$129,000
0.14 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 October 2023
At the same time last year, Chincoteague Island was a Buyer'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
$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 Island have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Chincoteague Island 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 Island 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 Island | $455K | $437.5K | -3.8% |
| Chincoteague | $455K | $437.5K | -3.8% |
Housing Supply in Chincoteague Island, VA
How many homes are available in Chincoteague Island, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 21 | -8.7% |
Summary: The Chincoteague Island 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 Island 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 Island, 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 Island 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 Island, VA
How long does it take to sell a home in Chincoteague Island, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 68 Days | 44 Days | -34.9% |
Summary: Homes in Chincoteague Island 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 Island has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Chincoteague Island; 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.