We are quickly approaching the spring home buying season and Chesterfield continues to be a very desirable area.  The numbers mentioned below in the image show what’s happening on existing homes.  As you may or may not know, there is quite a bit of new construction going on in Chesterfield.  In the month of January there were/are 20 active new construction properties and 4 under contract.  The average price point of those new construction homes is $1.3 million.

One number I like to look at to get a sense of how the market is doing is by looking at the days on market.  Of the 25 homes that sold in Chesterfield in January, the average days on market was 42.  This is definitely longer than what we had seen over the last couple years with the super low interest rates and the low inventory market we were in.  What I am noticing, however, is the of the 45 properties under contract, there are many that have 0 days on market or that are under 7.  We are beginning to see things pick up a little and it’s not even quite the spring market. 

I am hopeful for all my buyers out there, that we will start seeing more and more properties come on the market.  And for my sellers, low days on market is always a good sign! 

If you are curious about what’s going on in your particular city or subdivision specifically, please don’t hesitate to reach out!