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Gilmer Terrace Oakland Whittletown Woodlawn Woodlawn Heights

CHATHAM, VA 24531

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 24531

Gilmer Terrace · Oakland · Whittletown · Woodlawn · Woodlawn Heights

Market Analysis

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

The CHATHAM, VA real estate market (24531) currently shows 26 active listings, with 7 pending sales. Homes are averaging 60 days on the market before going under contract.

Inventory has increased compared to last year, with 14 more homes available — giving buyers more choice.

Homes are selling faster, averaging 60 days on market compared to 111 days last year.

The median listing price has fallen 35.1% year-over-year, from $325,925 to $211,575.

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
⇧ 116.7% vs 12 last year
Pending
7
27% pending ratio
Median Price
$211,575
⇩ 35.1% vs $325,925 last year
Average Price
$264,474
⇩ 2.7% vs $271,855 last year
Days on Market
60
⇩ 45.9% vs 111 days last year

Price Per Square Foot

Median $/sqft
$104
⇩ 17.5% vs $126/sqft last year
Median Home Size
1,565 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 26 this year vs 12 last year
  • Days on market: 60 now vs 111 last year

Median & Average Pricing

Year over Year
  • Median: $211,575 (-35.1% YoY)
  • Average: $264,474 (-2.7% 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 — 370 listings ($133,193,587 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
24531Chatham, VA 245310.0 mi28$7,083,244$190,000$252,973
24549Dry Fork, VA 245499.2 mi13$4,552,457$299,000$350,189
24557Gretna, VA 2455711.7 mi29$8,179,363$224,450$282,047
24137Penhook, VA 2413713.1 mi21$31,278,681$1,004,500$1,489,461
24540Danville, VA 2454013.6 mi107$22,529,599$175,000$210,557
24541Danville, VA 2454117.6 mi100$30,082,000$219,450$300,820
24176Union Hall, VA 2417618.1 mi13$10,617,243$799,250$816,711
24586Ringgold, VA 2458618.3 mi10$3,380,380$308,700$338,038
24594Sutherlin, VA 2459419.8 mi2$1,325,000$662,500$662,500
24069Cascade, VA 2406920.7 mi7$1,835,050$249,450$262,150
24092Glade Hill, VA 2409220.9 mi1$1,750,000$1,750,000$1,750,000
27315Providence, NC 2731523.2 mi8$2,135,736$314,500$266,967
24517Altavista, VA 2451724.1 mi31$8,444,834$215,900$272,414

Frequently Asked Questions

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

As of February 2026, there are 26 active listings in CHATHAM, VA (zip code 24531), compared to 12 the prior year.

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

The median listing price in CHATHAM, VA 24531 is $211,575 as of February 2026, a 35.1% decrease from $325,925 the prior year.

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

Homes in CHATHAM, VA 24531 spend an average of 60 days on the market before going under contract, compared to 111 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 February 2026, CHATHAM, VA 24531 is currently a Balanced Market. Inventory has increased compared to last year, with 14 more homes available — giving buyers more choice. Homes are selling faster, averaging 60 days on market compared to 111 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 $4,232 compared to a typical 5% commission on the median listing price of $211,575. 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.