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Gilmer Terrace Oakland Whittletown Woodlawn Woodlawn Heights

CHATHAM, VA 24531

Real Estate Market Report
Buyer's Market
June 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 24531

Gilmer Terrace · Oakland · Whittletown · Woodlawn · Woodlawn Heights

Market Analysis

Data as of June 2026. Source: Realtor.com.

The CHATHAM, VA real estate market (24531) currently shows 26 active listings, with 10 pending sales. Homes are averaging 59 days on the market before going under contract.

Inventory has increased compared to last year, with 6 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 59 days on market compared to 35 days last year.

The median listing price has fallen 19.6% year-over-year, from $248,675 to $199,900.

Whether you are buying or selling in CHATHAM, VA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 9,182  ·  Density: 18.0/mi²  ·  Median household income: $49,087

Typical home value: $131,639  ·  Homeownership: 77.4%

Market Overview

Active Listings
26
⇧ 30% vs 20 last year
Pending
10
38% pending ratio
Median Price
$199,900
⇩ 19.6% vs $248,675 last year
Average Price
$220,926
⇩ 16.8% vs $265,381 last year
Days on Market
59
⇧ 68.6% vs 35 days last year

Price Per Square Foot

Median $/sqft
$129
⇧ 2.4% vs $126/sqft last year
Median Home Size
1,501 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 26 this year vs 20 last year
  • Days on market: 59 now vs 35 last year

Median & Average Pricing

Year over Year
  • Median: $199,900 (-19.6% YoY)
  • Average: $220,926 (-16.8% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 24.1 miles — 371 listings ($132,938,678 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
24531Chatham, VA 245310.0 mi26$6,876,324$211,575$264,474
24549Dry Fork, VA 245499.2 mi13$4,907,032$330,000$377,464
24557Gretna, VA 2455711.7 mi31$8,938,571$236,725$288,341
24137Penhook, VA 2413713.1 mi21$31,705,821$1,118,500$1,509,801
24540Danville, VA 2454013.6 mi110$21,971,840$169,675$199,744
24541Danville, VA 2454117.6 mi97$30,708,454$248,950$316,582
24176Union Hall, VA 2417618.1 mi12$8,921,904$699,225$743,492
24586Ringgold, VA 2458618.3 mi9$2,899,467$311,675$322,163
24594Sutherlin, VA 2459419.8 mi3$2,122,500$707,500$707,500
24069Cascade, VA 2406920.7 mi9$2,327,535$237,250$258,615
24092Glade Hill, VA 2409220.9 mi2$699,800$349,900$349,900
27315Providence, NC 2731523.2 mi8$2,260,560$324,900$282,570
24517Altavista, VA 2451724.1 mi30$8,598,870$242,425$286,629

Frequently Asked Questions

How many homes are for sale in CHATHAM, VA 24531?

As of June 2026, there are 26 active listings in CHATHAM, VA (zip code 24531), compared to 20 the prior year.

What is the median home price in CHATHAM, VA 24531?

The median listing price in CHATHAM, VA 24531 is $199,900 as of June 2026, a 19.6% decrease from $248,675 the prior year.

How long do homes stay on the market in CHATHAM, VA?

Homes in CHATHAM, VA 24531 spend an average of 59 days on the market before going under contract, compared to 35 days the prior year.

Is it a seller's or buyer's market in CHATHAM, VA 24531?

Based on current inventory and days-on-market data as of June 2026, CHATHAM, VA 24531 is currently a Buyer's Market. Inventory has increased compared to last year, with 6 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 59 days on market compared to 35 days last year.

How much can I save on real estate commission in CHATHAM, VA?

With SELL123.com's maximum 3% commission, sellers in CHATHAM, VA 24531 save an estimated $3,998 compared to a typical 5% commission on the median listing price of $199,900. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.