Is Three Chopt, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Three Chopt has remained a Seller's Market.
Key Takeaway
Three Chopt is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Three Chopt, VA
How much do homes in Three Chopt, VA cost?
Median Sold Price
$519,144
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Three Chopt have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Three Chopt was $519,144 in May 2024, up 11.6% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $309.9K | +67.5% |
| 2 Bedrooms | $298.4K | $310K | +3.9% |
| 3 Bedrooms | $401.6K | $425K | +5.8% |
| 4 Bedrooms | $520.6K | $563.5K | +8.2% |
| 5+ Bedrooms | $750K | $825K | +10.0% |
Summary: Three Chopt housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.5%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
| Tuckahoe | $419.1K | $474.5K | +13.2% |
| Three Chopt | $465.1K | $519.1K | +11.6% |
| South Anna | $457.6K | $505.2K | +10.4% |
| Brookland | $340K | $374.6K | +10.2% |
| Glen Allen | $460K | $485K | +5.4% |
Housing Supply in Three Chopt, VA
How many homes are available in Three Chopt, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 291 | 306 | +5.2% |
Summary: The Three Chopt real estate market had 306 homes for sale in May 2024, a 5.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 25 | 22 | -12.0% |
| 3 Bedrooms | 87 | 98 | +12.6% |
| 4 Bedrooms | 86 | 81 | -5.8% |
| 5+ Bedrooms | 87 | 99 | +13.8% |
Summary: The Three Chopt housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 12.6%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes increased by 13.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 96 | 83 | -13.5% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Three Chopt, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 83 homes were sold or pending in Three Chopt in May 2024, down by 13.5% month-over-month. Of the 81 sold homes, 28% were sold under asking, 16% were sold at asking, and 56% were sold over asking.
Days on Market for Three Chopt, VA
How long does it take to sell a home in Three Chopt, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 18 Days | +56.5% |
Summary: Homes in Three Chopt had an average of 18 days on market in May 2024, up by 56.5% compared to last year.
Breakdown of Home Sale Times
69 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Three Chopt are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 83 homes were sold in Three Chopt; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved