Is Rivanna, 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, Rivanna has remained a Seller's Market.
Housing Prices in Rivanna, VA
How much do homes in Rivanna, VA cost?
Median Sold Price
$540,317
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rivanna was $540,317 in May 2024, up 11.4% 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 | $272.5K | $253K | -7.2% |
2 Bedrooms | $322.5K | $305K | -5.4% |
3 Bedrooms | $396.3K | $425K | +7.2% |
4 Bedrooms | $562K | $601.5K | +7.0% |
5+ Bedrooms | $706.5K | $882.5K | +24.9% |
Summary: Rivanna housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.2%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 24.9%.
Median Sold Price Compared To Nearby Cities
Rivanna | $485K | $540.3K | +11.4% |
Charlottesville | $467K | $512K | +9.6% |
Rio | $450.5K | $452.3K | 0.4% |
Housing Supply in Rivanna, VA
How many homes are available in Rivanna, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
108 | 110 | +1.9% |
Summary: The Rivanna real estate market had 110 homes for sale in May 2024, a 1.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 50 | 61 | +22.0% |
4 Bedrooms | 40 | 37 | -7.5% |
5+ Bedrooms | 12 | 9 | -25.0% |
Summary: The Rivanna housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 22%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 27 | +42.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Rivanna in May 2024, up by 42.1% month-over-month. Of the 27 sold homes, 30% were sold under asking, 33% were sold at asking, and 37% were sold over asking.
Days on Market for Rivanna, VA
How long does it take to sell a home in Rivanna, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
8 Days | 21 Days | +155.3% |
Summary: Homes in Rivanna had an average of 21 days on market in May 2024, up by 155.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 27 homes were sold in Rivanna; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.