Is 22031, 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, 22031 has remained a Seller's Market.
Key Takeaway
22031 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 22031, VA
How much do homes in 22031, VA cost?
Median Sold Price
$643,712
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 22031 have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in 22031 was $643,712 in March 2024, up 6.4% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $311.5K | $345K | +10.8% |
| 2 Bedrooms | $469K | $460K | -1.9% |
| 3 Bedrooms | $602.5K | $662.7K | +10.0% |
| 4 Bedrooms | $897.5K | $925K | +3.1% |
| 5+ Bedrooms | $1.0M | $1.1M | +14.4% |
Summary: 22031 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 14.4%.
Housing Supply in 22031, VA
How many homes are available in 22031, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 92 | 105 | +14.1% |
Summary: The 22031 real estate market had 105 homes for sale in March 2024, a 14.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 19 | 24 | +26.3% |
| 3 Bedrooms | 20 | 29 | +45.0% |
| 4 Bedrooms | 21 | 19 | -9.5% |
| 5+ Bedrooms | 24 | 26 | +8.3% |
Summary: The 22031 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 45%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 22031, you could pay more than the asking price. 72.2% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in 22031 in March 2024, up by 12.5% month-over-month. Of the 18 sold homes, 6% were sold under asking, 22% were sold at asking, and 72% were sold over asking.
Days on Market for 22031, VA
How long does it take to sell a home in 22031, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 9 Days | -74.4% |
Summary: Homes in 22031 had an average of 9 days on market in Mar 2024, down by 74.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 22031 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in 22031; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
