Is 20147, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 20147 has remained a Seller's Market.
Key Takeaway
20147 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20147, VA
How much do homes in 20147, VA cost?
Median Sold Price
$674,343
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20147 have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in 20147 was $674,343 in March 2024, up 6.5% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $299.9K | $289.4K | -3.5% |
| 2 Bedrooms | $425K | $446.8K | +5.1% |
| 3 Bedrooms | $593K | $635.5K | +7.2% |
| 4 Bedrooms | $855K | $850.1K | -0.6% |
| 5+ Bedrooms | $975K | $1.0M | +2.6% |
Summary: 20147 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.5%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 2.6%.
Housing Supply in 20147, VA
How many homes are available in 20147, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 232 | 253 | +9.1% |
Summary: The 20147 real estate market had 253 homes for sale in March 2024, a 9.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 44 | 52 | +18.2% |
| 3 Bedrooms | 88 | 91 | +3.4% |
| 4 Bedrooms | 72 | 77 | +6.9% |
| 5+ Bedrooms | 25 | 29 | +16.0% |
Summary: The 20147 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 16%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 42 | 47 | +11.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20147, you could pay more than the asking price. 51.1% of homes here sold above asking price last month.
Summary: A total of 47 homes were sold or pending in 20147 in March 2024, up by 11.9% month-over-month. Of the 47 sold homes, 28% were sold under asking, 21% were sold at asking, and 51% were sold over asking.
Days on Market for 20147, VA
How long does it take to sell a home in 20147, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 16 Days | 11 Days | -26.2% |
Summary: Homes in 20147 had an average of 11 days on market in Mar 2024, down by 26.2% compared to last year.
Breakdown of Home Sale Times
42 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 20147 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 47 homes were sold in 20147; 89% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
