Is Front Royal, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Front Royal is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Front Royal, VA

How much do homes in Front Royal, VA cost?

Median Sold Price

$369,600

$216/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$54,600(+17.3%)

Key Takeaway

Homes in Front Royal have sold for 17.3% more than they did a year ago.

Summary: The median home sold price in Front Royal was $369,600 in April 2024, up 17.3% from last year, and the median price per square foot was $216.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $62K$182.5K
+194.4%
2 $249.9K$249.8K
0%
3 $320K$371.5K
+16.1%
4 $353.4K$424.2K
+20.0%
5+ $388.6K$468K
+20.4%

Summary: Front Royal housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 194.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 20.4%.

Median Sold Price Compared To Nearby Cities

Happy Creek
+18.6%
Front Royal
+17.3%
Fork
+9.6%
Shenandoah
0.0%
North River
-4.3%

Housing Supply in Front Royal, VA

How many homes are available in Front Royal, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
137156+13.9%

Summary: The Front Royal real estate market had 156 homes for sale in April 2024, a 13.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 12
+100.0%
2 1421
+50.0%
3 7886
+10.3%
4 3939
0.0%
5+ 58
+60.0%

Summary: The Front Royal housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 10.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 60%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3733-10.8%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Front Royal, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in Front Royal in April 2024, down by 10.8% month-over-month. Of the 33 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.

Days on Market for Front Royal, VA

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

Average Sale Time

Apr 2023Apr 2024CHANGE
24 Days16 Days-35.1%

Summary: Homes in Front Royal had an average of 16 days on market in Apr 2024, down by 35.1% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 33 homes were sold in Front Royal; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% 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 Apr 1, 2024

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