$100,000
0.24 Acres
Land
Angela Abell, Listing Office: Beach Bay Realty
Is Chincoteague Island, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Chincoteague Island has remained a Seller's Market.
Key Takeaway
Chincoteague Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chincoteague Island, VA
How much do homes in Chincoteague Island, VA cost?
Median Sold Price
$427,500
$259/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$11,900(-2.7%)
Key Takeaway
Homes in Chincoteague Island have sold for 2.7% less than they did a month ago.
Summary: The median home sold price in Chincoteague Island was $427,500 in November 2024, down 2.7% from last month, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $369K | $427.5K | +15.9% |
| 3 Bedrooms | $605K | $407.5K | -32.6% |
| 4 Bedrooms | $378.8K | $800K | +111.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: Chincoteague Island housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.9%, 3 bedroom homes decreased by 32.6%, 4 bedroom homes increased by 111.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Chincoteague Island | $439.4K | $427.5K | -2.7% |
| Chincoteague | $439.4K | $427.5K | -2.7% |
Housing Supply in Chincoteague Island, VA
How many homes are available in Chincoteague Island, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Summary: The Chincoteague Island real estate market had 23 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Chincoteague Island housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Chincoteague Island, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Chincoteague Island in November 2024, up by 75.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Chincoteague Island, VA
How long does it take to sell a home in Chincoteague Island, VA?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 82 Days | +86.6% |
Summary: Homes in Chincoteague Island had an average of 82 days on market in Nov 2024, up by 86.6% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chincoteague Island are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Chincoteague Island; 57% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
