Is Cedar Run, 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, Cedar Run has remained a Seller's Market.
Key Takeaway
Cedar Run is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cedar Run, VA
How much do homes in Cedar Run, VA cost?
Median Sold Price
$590,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cedar Run have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Cedar Run was $590,000 in May 2024, up 7.3% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259.4K | - | N/A |
| 2 Bedrooms | $542K | $376K | -30.6% |
| 3 Bedrooms | $475K | $499.9K | +5.2% |
| 4 Bedrooms | $586.2K | $682.5K | +16.4% |
| 5+ Bedrooms | $725K | $749.9K | +3.4% |
Summary: Cedar Run 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 decreased by 30.6%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 3.4%.
Housing Supply in Cedar Run, VA
How many homes are available in Cedar Run, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 62 | 74 | +19.4% |
Summary: The Cedar Run real estate market had 74 homes for sale in May 2024, a 19.4% increase 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 | 5 | 3 | -40.0% |
| 3 Bedrooms | 20 | 26 | +30.0% |
| 4 Bedrooms | 24 | 31 | +29.2% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Cedar Run 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 decreased by 40%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 22 | +144.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Run, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Cedar Run in May 2024, up by 144.4% month-over-month. Of the 22 sold homes, 32% were sold under asking, 5% were sold at asking, and 64% were sold over asking.
Days on Market for Cedar Run, VA
How long does it take to sell a home in Cedar Run, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 20 Days | +6.3% |
Summary: Homes in Cedar Run had an average of 20 days on market in May 2024, up by 6.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cedar Run are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Cedar Run; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved