Chatham County Real Estate: Insights from July 2023

Chatham County Housing Market Update

Chatham County NC Housing Market Update July 2023Hey there, Chatham County homebuyers and sellers! We've got some exciting market insights from July 2023 for you. Here's a quick rundown:

  • We've got 244 homes currently for sale in Chatham County NC, with an average listing price of about $1,084,093.
  • There are 190 homes under contract, with an average listing price of around $841,068.
  • Last month, we saw 95 homes sold at an average price of around $672,508.
  • The neighborhoods that sold the most homes were: Not in a Subdivision, Chatham Park, Briar Chapel, Chapel Ridge, and Governors Club.
  • The price range for homes in these top-selling neighborhoods varied quite a bit, from around $399,201 in areas outside formal subdivisions to a hefty $1,171,500 in the prestigious Governors Club.
  • Larger homes had more variability in their selling prices.
  • Chatham County real estate is in demand!

The Nitty-Gritty:

On the Market in Chatham County:

Right now, there are 247 homes up for grabs in Chatham County. These range from charming bungalows to sprawling estates, but on average, they offer about 3447 square feet of living space and are listed at approximately $1,084,093. They've been waiting to find their perfect match for an average of 62 days.

Under Contract in Chatham County:

We've got 190 homes that have found their potential new owners and are under contract. These homes are slightly smaller on average, with about 2972 square feet, and were listed at an average price of approximately $841,068. They spent an average of around 40 days on the market before going under contract.

Sold Homes in Chatham County:

In July, 95 homes changed hands in Chatham County. The average price of these sold homes was about $672,508, with an average size of approximately 2650 square feet. These homes were on the market for around 22 days on average before they were sold.

Now, this is interesting - the average sales price was very close to the average listing price, with a ratio of approximately 99.74%. This suggests that homes are selling pretty close to their listing price. So whether you're buying or selling, you've got a fair playing field here!

Chatham Neighborhood Vibes:

When it comes to neighborhoods, the top five selling spots were Not in a Subdivision, Chatham Park, Briar Chapel, Chapel Ridge, and Governors Club. The price tags in these neighborhoods varied, giving options for different budgets. For instance, homes outside of formal subdivisions went for an average price of around $399,201, while those in the Governors Club boasted an average price of around $1,171,500.

Size Matters:

Take a look at this scatterplot - each dot represents a home sold in July 2023. You can see that generally, the bigger the home, the higher the selling price. However, the prices of larChatham County Real Estate Market July 2023

Property Types in Chatham County:

Let's talk property types! The majority of properties in Chatham County are single-family homes or detached properties. This trend is seen across homes currently for sale, under contract, and sold in July. This makes sense for our suburban area where folks often prefer more room to roam.

Townhomes, or attached properties, represent a smaller portion of the market. These are typically more affordable and require less maintenance, making them a great choice for first-time homebuyers or those looking to downsize. We also have a few manufactured homes and condos on the market, providing even more options for homebuyers.

So there you have it! A snapshot of the Chatham County real estate market in July 2023. We hope you found these insights helpful. For ongoing updates on market trends, pop over here to sign up. Happy home hunting (or selling)!

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Information not guaranteed. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. © 2023 Triangle MLS, Inc. of North Carolina. All rights reserved.

Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property.

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