Is Mount Vernon, 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, Mount Vernon has remained a Seller's Market.
Key Takeaway
Mount Vernon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mount Vernon, VA
How much do homes in Mount Vernon, VA cost?
Median Sold Price
$674,963
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mount Vernon have sold for 4% more than they did a year ago.
Summary: The median home sold price in Mount Vernon was $674,963 in May 2024, up 4% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $231.5K | $213K | -8.0% |
| 2 Bedrooms | $399K | $402.3K | +0.8% |
| 3 Bedrooms | $579K | $614K | +6.1% |
| 4 Bedrooms | $775K | $819.4K | +5.7% |
| 5+ Bedrooms | $955.7K | $950K | -0.6% |
Summary: Mount Vernon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Alexandria | $601.3K | $648.2K | +7.8% |
| Alexandria | $605.5K | $646K | +6.7% |
| Lee | $570.1K | $600.2K | +5.3% |
| Mount Vernon | $648.9K | $674.9K | +4.0% |
| Occoquan | $505K | $500K | -1.0% |
Housing Supply in Mount Vernon, VA
How many homes are available in Mount Vernon, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 340 | 404 | +18.8% |
Summary: The Mount Vernon real estate market had 404 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 31 | +14.8% |
| 2 Bedrooms | 47 | 52 | +10.6% |
| 3 Bedrooms | 85 | 103 | +21.2% |
| 4 Bedrooms | 109 | 127 | +16.5% |
| 5+ Bedrooms | 72 | 91 | +26.4% |
Summary: The Mount Vernon housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 21.2%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 26.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 105 | 89 | -15.2% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Vernon, you could pay more than the asking price. 61.8% of homes here sold above asking price last month.
Summary: A total of 89 homes were sold or pending in Mount Vernon in May 2024, down by 15.2% month-over-month. Of the 89 sold homes, 21% were sold under asking, 17% were sold at asking, and 62% were sold over asking.
Days on Market for Mount Vernon, VA
How long does it take to sell a home in Mount Vernon, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 11 Days | -17.3% |
Summary: Homes in Mount Vernon had an average of 11 days on market in May 2024, down by 17.3% compared to last year.
Breakdown of Home Sale Times
81 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mount Vernon are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 89 homes were sold in Mount Vernon; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
