Is 20198, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 20198 was a Buyer's Market.
Key Takeaway
20198 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20198, VA
How much do homes in 20198, VA cost?
Median Sold Price
$1,250,000
$297/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 20198 have sold for 47.1% more than they did a month ago.
Summary: The median home sold price in 20198 was $1,250,000 in March 2024, up 47.1% from last month, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $556K | N/A |
| 3 Bedrooms | $590K | $5.1M | +764.4% |
| 4 Bedrooms | $850K | $1.6M | +97.1% |
| 5+ Bedrooms | - | $840K | N/A |
Summary: 20198 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 764.4%, 4 bedroom homes increased by 97.1%, and 5+ bedroom homes did not change.
Housing Supply in 20198, VA
How many homes are available in 20198, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 24 | -4.0% |
Summary: The 20198 real estate market had 24 homes for sale in March 2024, a 4.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 20198 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 20198, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 20198 in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 20198, VA
How long does it take to sell a home in 20198, VA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 185 Days | +754.8% |
Summary: Homes in 20198 had an average of 185 days on market in Mar 2024, up by 754.8% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 20198 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in 20198; 40% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 60% 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.