Is 22405, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 22405 was a Seller's Market.
Key Takeaway
22405 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 22405, VA
How much do homes in 22405, VA cost?
Median Sold Price
$440,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 22405 have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in 22405 was $440,000 in March 2024, up 3.5% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $298K | N/A |
| 2 Bedrooms | $263K | $280K | +6.5% |
| 3 Bedrooms | $367.4K | $375K | +2.0% |
| 4 Bedrooms | $490K | $510.4K | +4.2% |
| 5+ Bedrooms | $617K | $589K | -4.5% |
Summary: 22405 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply in 22405, VA
How many homes are available in 22405, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 222 | 239 | +7.7% |
Summary: The 22405 real estate market had 239 homes for sale in March 2024, a 7.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 7 | -36.4% |
| 3 Bedrooms | 55 | 62 | +12.7% |
| 4 Bedrooms | 114 | 117 | +2.6% |
| 5+ Bedrooms | 41 | 52 | +26.8% |
Summary: The 22405 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 decreased by 36.4%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 26.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 36 | +38.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 22405, expect to pay close to the asking price. 38.9% of homes here sold near the asking price last month.
Summary: A total of 36 homes were sold or pending in 22405 in March 2024, up by 38.5% month-over-month. Of the 36 sold homes, 36% were sold under asking, 39% were sold at asking, and 25% were sold over asking.
Days on Market for 22405, VA
How long does it take to sell a home in 22405, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 60 Days | +29.4% |
Summary: Homes in 22405 had an average of 60 days on market in Mar 2024, up by 29.4% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 22405 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 36 homes were sold in 22405; 72% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 22% 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.