Is Varina, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Varina is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Varina has remained a Seller's Market.

Key Takeaway

Varina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Varina, VA

How much do homes in Varina, VA cost?

Median Sold Price

$290,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,179(+4.4%)

Key Takeaway

Homes in Varina have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Varina was $290,000 in May 2024, up 4.4% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $275K$261.4K
-4.9%
2 $204K$224K
+9.8%
3 $258.4K$270K
+4.5%
4 $317.9K$353.5K
+11.2%
5+ $395K$444.4K
+12.5%

Summary: Varina housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.9%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 12.5%.

Median Sold Price Compared To Nearby Cities

Henrico
+8.7%
Sandston
+7.6%
Varina
+4.4%
Chester
+3.6%
Bermuda
+3.1%

Housing Supply in Varina, VA

How many homes are available in Varina, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
243263+8.2%

Summary: The Varina real estate market had 263 homes for sale in May 2024, a 8.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 02
+100.0%
2 3838
0.0%
3 130146
+12.3%
4 6769
+3.0%
5+ 88
0.0%

Summary: The Varina housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
6475+17.2%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

38 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Varina, you could pay more than the asking price. 52.1% of homes here sold above asking price last month.

Summary: A total of 75 homes were sold or pending in Varina in May 2024, up by 17.2% month-over-month. Of the 73 sold homes, 23% were sold under asking, 25% were sold at asking, and 52% were sold over asking.

Days on Market for Varina, VA

How long does it take to sell a home in Varina, VA?

Average Sale Time

May 2023May 2024CHANGE
22 Days25 Days+13.5%

Summary: Homes in Varina had an average of 25 days on market in May 2024, up by 13.5% compared to last year.

Breakdown of Home Sale Times

60 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Varina are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 75 homes were sold in Varina; 80% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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