$129,000
0.14 Acres
Land
Angela Abell, Listing Office: Beach Bay Realty
Is Chincoteague, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Chincoteague was a Buyer's Market.
Key Takeaway
Chincoteague is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chincoteague, VA
How much do homes in Chincoteague, VA cost?
Median Sold Price
$437,500
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$17,500(-3.8%)
Key Takeaway
Homes in Chincoteague have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Chincoteague was $437,500 in October 2024, down 3.8% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $265K | +71.0% |
| 2 Bedrooms | $315.5K | $307K | -2.7% |
| 3 Bedrooms | $482K | $500K | +3.7% |
| 4 Bedrooms | $650K | $425K | -34.6% |
| 5+ Bedrooms | $608K | - | N/A |
Summary: Chincoteague housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 71%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 34.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Chincoteague | $455K | $437.5K | -3.8% |
| Chincoteague Island | $455K | $437.5K | -3.8% |
Housing Supply in Chincoteague, VA
How many homes are available in Chincoteague, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 21 | -8.7% |
Summary: The Chincoteague real estate market had 21 homes for sale in October 2024, a 8.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Chincoteague housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chincoteague, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Chincoteague in October 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Chincoteague, VA
How long does it take to sell a home in Chincoteague, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 68 Days | 44 Days | -34.9% |
Summary: Homes in Chincoteague had an average of 44 days on market in Oct 2024, down by 34.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Chincoteague has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Chincoteague; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Copyright © 2024 REIN, Inc - All Rights Reserved. Information Deemed Reliable But Not Guaranteed.