Is Rustburg, 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, Rustburg has remained a Seller's Market.
Key Takeaway
Rustburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rustburg, VA
How much do homes in Rustburg, VA cost?
Median Sold Price
$331,450
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rustburg have sold for 14.9% more than they did a year ago.
Summary: The median home sold price in Rustburg was $331,450 in May 2024, up 14.9% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $143.4K | $230K | +60.3% |
| 3 Bedrooms | $284.5K | $305K | +7.2% |
| 4 Bedrooms | $359.9K | $435K | +20.9% |
| 5+ Bedrooms | $434.4K | $775K | +78.4% |
Summary: Rustburg 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 60.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes increased by 78.4%.
Housing Supply in Rustburg, VA
How many homes are available in Rustburg, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 44 | +18.9% |
Summary: The Rustburg real estate market had 44 homes for sale in May 2024, a 18.9% 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 | 1 | 3 | +200.0% |
| 3 Bedrooms | 20 | 29 | +45.0% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Rustburg 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 200%, 3 bedroom homes increased by 45%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 12 | -29.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rustburg, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Rustburg in May 2024, down by 29.4% month-over-month. Of the 12 sold homes, 33% were sold under asking, 25% were sold at asking, and 42% were sold over asking.
Days on Market for Rustburg, VA
How long does it take to sell a home in Rustburg, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 29 Days | +301.5% |
Summary: Homes in Rustburg had an average of 29 days on market in May 2024, up by 301.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Rustburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Rustburg; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.