Is 22406, 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, 22406 was a Neutral Market.
Key Takeaway
22406 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 22406, VA
How much do homes in 22406, VA cost?
Median Sold Price
$515,777
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 22406 has remained the same since last year.
Summary: The median home sold price in 22406 was $515,777 in March 2024, up 0.1% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $239.5K | N/A |
| 2 Bedrooms | $352.5K | $362K | +2.7% |
| 3 Bedrooms | $440K | $459.9K | +4.5% |
| 4 Bedrooms | $540.2K | $545K | +0.9% |
| 5+ Bedrooms | $625K | $665K | +6.4% |
Summary: 22406 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 2.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 6.4%.
Housing Supply in 22406, VA
How many homes are available in 22406, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 190 | 205 | +7.9% |
Summary: The 22406 real estate market had 205 homes for sale in March 2024, a 7.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 18 | 19 | +5.6% |
| 3 Bedrooms | 46 | 52 | +13.0% |
| 4 Bedrooms | 79 | 83 | +5.1% |
| 5+ Bedrooms | 45 | 49 | +8.9% |
Summary: The 22406 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 increased by 5.6%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 8.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 23 | +15.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 22406, you may be able to get a good deal. 39.1% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 22406 in March 2024, up by 15.0% month-over-month. Of the 23 sold homes, 39% were sold under asking, 35% were sold at asking, and 26% were sold over asking.
Days on Market for 22406, VA
How long does it take to sell a home in 22406, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 34 Days | +21.0% |
Summary: Homes in 22406 had an average of 34 days on market in Mar 2024, up by 21% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 22406 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 23 homes were sold in 22406; 74% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 17% 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.