Is Mountain Road, 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, Mountain Road has remained a Seller's Market.
Key Takeaway
Mountain Road is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mountain Road, VA
How much do homes in Mountain Road, VA cost?
Median Sold Price
$382,115
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mountain Road have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Mountain Road was $382,115 in May 2024, up 9.2% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $165K | $249K | +50.9% |
| 3 Bedrooms | $335K | $363K | +8.4% |
| 4 Bedrooms | $408.5K | $419.9K | +2.8% |
| 5+ Bedrooms | $496K | - | N/A |
Summary: Mountain Road housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 50.9%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cuckoo | $380.7K | $450.3K | +18.3% |
| Gum Spring | $335K | $380K | +13.4% |
| Jackson | $350K | $389.5K | +11.3% |
| Mountain Road | $350K | $382.1K | +9.2% |
| Sandy Hook | $514.9K | $542.4K | +5.3% |
Housing Supply in Mountain Road, VA
How many homes are available in Mountain Road, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 31 | -8.8% |
Summary: The Mountain Road real estate market had 31 homes for sale in May 2024, a 8.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 25 | 24 | -4.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mountain Road 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 remained the same, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mountain Road, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Mountain Road in May 2024, up by 12.5% month-over-month. Of the 9 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Mountain Road, VA
How long does it take to sell a home in Mountain Road, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 36 Days | +295.2% |
Summary: Homes in Mountain Road had an average of 36 days on market in May 2024, up by 295.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mountain Road are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Mountain Road; 78% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.