Is South River, 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, South River was a Seller's Market.
Key Takeaway
South River is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South River, VA
How much do homes in South River, VA cost?
Median Sold Price
$370,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South River have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in South River was $370,000 in May 2024, up 8.8% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $398K | $260K | -34.7% |
| 2 Bedrooms | $229.9K | $233K | +1.3% |
| 3 Bedrooms | $345K | $369.9K | +7.2% |
| 4 Bedrooms | $390.2K | $450K | +15.3% |
| 5+ Bedrooms | $448K | $620K | +38.4% |
Summary: South River housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.7%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 38.4%.
Median Sold Price Compared To Nearby Cities
| Chester Gap | $192.4K | $260K | +35.1% |
| Front Royal | $319.9K | $372.8K | +16.5% |
| Fork | $352.7K | $393.7K | +11.6% |
| South River | $340K | $370K | +8.8% |
| Bentonville | $447.5K | $409K | -8.6% |
Housing Supply in South River, VA
How many homes are available in South River, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 36 | +16.1% |
Summary: The South River real estate market had 36 homes for sale in May 2024, a 16.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 7 | +133.3% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The South River 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 133.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South River, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in South River in May 2024, down by 37.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for South River, VA
How long does it take to sell a home in South River, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 61 Days | +42.5% |
Summary: Homes in South River had an average of 61 days on market in May 2024, up by 42.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South River are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in South River; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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.