Is Millwood, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Millwood was a Seller's Market.
Key Takeaway
Millwood is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Millwood, VA
How much do homes in Millwood, VA cost?
Median Sold Price
$549,990
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Millwood have sold for 48.6% more than they did a year ago.
Summary: The median home sold price in Millwood was $549,990 in May 2024, up 48.6% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229K | $1.4M | +511.4% |
| 2 Bedrooms | $345K | $423.5K | +22.8% |
| 3 Bedrooms | $343K | $470K | +37.0% |
| 4 Bedrooms | $812.5K | $589K | -27.5% |
| 5+ Bedrooms | $910K | $1.0M | +12.6% |
Summary: Millwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 511.4%, 2 bedroom homes increased by 22.8%, 3 bedroom homes increased by 37%, 4 bedroom homes decreased by 27.5%, and 5+ bedroom homes increased by 12.6%.
Median Sold Price Compared To Nearby Cities
| Millwood | $370K | $549.9K | +48.6% |
| White Post | $475K | $463K | -2.5% |
| Berryville | $530.5K | $510K | -3.9% |
Housing Supply in Millwood, VA
How many homes are available in Millwood, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 12 | +100.0% |
Summary: The Millwood real estate market had 12 homes for sale in May 2024, a 100.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 4 | 7 | +75.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Millwood 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 increased by 100%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Millwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Millwood in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Millwood, VA
How long does it take to sell a home in Millwood, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 131 Days | +4283.3% |
Summary: Homes in Millwood had an average of 131 days on market in May 2024, up by 4283.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Millwood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Millwood; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
