Is Glen Allen, 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, Glen Allen has remained a Seller's Market.
Housing Prices in Glen Allen, VA
How much do homes in Glen Allen, VA cost?
Median Sold Price
$485,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Glen Allen was $485,000 in May 2024, up 5.4% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160.2K | $182.7K | +14.0% |
2 Bedrooms | $259K | $275K | +6.2% |
3 Bedrooms | $388.2K | $413.2K | +6.5% |
4 Bedrooms | $482.3K | $530K | +9.9% |
5+ Bedrooms | $742K | $800K | +7.8% |
Summary: Glen Allen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
Three Chopt | $465.1K | $519.1K | +11.6% |
South Anna | $457.6K | $505.2K | +10.4% |
Brookland | $340K | $374.6K | +10.2% |
Chickahominy | $460.9K | $489.9K | +6.3% |
Glen Allen | $460K | $485K | +5.4% |
Housing Supply in Glen Allen, VA
How many homes are available in Glen Allen, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
297 | 330 | +11.1% |
Summary: The Glen Allen real estate market had 330 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 19 | 16 | -15.8% |
3 Bedrooms | 114 | 134 | +17.5% |
4 Bedrooms | 83 | 85 | +2.4% |
5+ Bedrooms | 76 | 90 | +18.4% |
Summary: The Glen Allen 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 15.8%, 3 bedroom homes increased by 17.5%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 18.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 77 | +11.6% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in Glen Allen in May 2024, up by 11.6% month-over-month. Of the 76 sold homes, 24% were sold under asking, 26% were sold at asking, and 50% were sold over asking.
Days on Market for Glen Allen, VA
How long does it take to sell a home in Glen Allen, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 14 Days | +15.3% |
Summary: Homes in Glen Allen had an average of 14 days on market in May 2024, up by 15.3% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 77 homes were sold in Glen Allen; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.