Is George Washington, 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, George Washington has remained a Seller's Market.
Housing Prices in George Washington, VA
How much do homes in George Washington, VA cost?
Median Sold Price
$433,333
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in George Washington was $433,333 in May 2024, up 2.6% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $298K | N/A |
2 Bedrooms | $266K | $280K | +5.3% |
3 Bedrooms | $370K | $397K | +7.3% |
4 Bedrooms | $499K | $517.9K | +3.8% |
5+ Bedrooms | $700K | $589K | -15.9% |
Summary: George Washington 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 5.3%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 15.9%.
Median Sold Price Compared To Nearby Cities
Fredericksburg | $427.9K | $440.7K | +3.0% |
Fredericksburg | $431K | $442.7K | +2.7% |
George Washington | $422.5K | $433.3K | +2.6% |
James Madison | $440K | $449.9K | +2.3% |
Falmouth | $427.5K | $434.9K | +1.7% |
Housing Supply in George Washington, VA
How many homes are available in George Washington, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
61 | 72 | +18.0% |
Summary: The George Washington real estate market had 72 homes for sale in May 2024, a 18.0% 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 | 7 | 5 | -28.6% |
3 Bedrooms | 22 | 35 | +59.1% |
4 Bedrooms | 23 | 23 | 0.0% |
5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The George Washington 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 28.6%, 3 bedroom homes increased by 59.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in George Washington in May 2024, up by 15.4% month-over-month. Of the 15 sold homes, 27% were sold under asking, 13% were sold at asking, and 60% were sold over asking.
Days on Market for George Washington, VA
How long does it take to sell a home in George Washington, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
10 Days | 8 Days | -19.9% |
Summary: Homes in George Washington had an average of 8 days on market in May 2024, down by 19.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in George Washington; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.