Is Scott, 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, Scott has remained a Seller's Market.
Key Takeaway
Scott is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Scott, VA
How much do homes in Scott, VA cost?
Median Sold Price
$749,250
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Scott have sold for 11% more than they did a year ago.
Summary: The median home sold price in Scott was $749,250 in May 2024, up 11% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $800K | +150.0% |
| 2 Bedrooms | $324.5K | $380K | +17.1% |
| 3 Bedrooms | $495K | $599K | +21.0% |
| 4 Bedrooms | $715K | $765K | +7.0% |
| 5+ Bedrooms | $800K | $925K | +15.6% |
Summary: Scott housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 21%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
| Center | $475K | $561.3K | +18.2% |
| Broad Run | $608.8K | $710.5K | +16.7% |
| Scott | $675K | $749.2K | +11.0% |
Housing Supply in Scott, VA
How many homes are available in Scott, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 98 | +4.3% |
Summary: The Scott real estate market had 98 homes for sale in May 2024, a 4.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 40 | 43 | +7.5% |
| 5+ Bedrooms | 31 | 33 | +6.5% |
Summary: The Scott 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 decreased by 14.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 6.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 27 | -10.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Scott, you could pay more than the asking price. 70.4% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Scott in May 2024, down by 10.0% month-over-month. Of the 27 sold homes, 15% were sold under asking, 15% were sold at asking, and 70% were sold over asking.
Days on Market for Scott, VA
How long does it take to sell a home in Scott, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 16 Days | -2.2% |
Summary: Homes in Scott had an average of 16 days on market in May 2024, down by 2.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Scott are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Scott; 85% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.