Is 22603, 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, 22603 was a Seller's Market.
Key Takeaway
22603 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 22603, VA
How much do homes in 22603, VA cost?
Median Sold Price
$449,500
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 22603 have sold for 28.5% more than they did a year ago.
Summary: The median home sold price in 22603 was $449,500 in March 2024, up 28.5% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $195K | +95.0% |
| 2 Bedrooms | $243.7K | $280.5K | +15.1% |
| 3 Bedrooms | $312.5K | $400K | +28.0% |
| 4 Bedrooms | $497.5K | $585K | +17.6% |
| 5+ Bedrooms | $649.9K | $745K | +14.6% |
Summary: 22603 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 95%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 28%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 14.6%.
Housing Supply in 22603, VA
How many homes are available in 22603, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 82 | 94 | +14.6% |
Summary: The 22603 real estate market had 94 homes for sale in March 2024, a 14.6% 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 | 14 | 14 | 0.0% |
| 3 Bedrooms | 36 | 43 | +19.4% |
| 4 Bedrooms | 27 | 32 | +18.5% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 22603 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 increased by 19.4%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
5 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 22603, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 22603 in March 2024, down by 22.2% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for 22603, VA
How long does it take to sell a home in 22603, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 104 Days | 92 Days | -12.3% |
Summary: Homes in 22603 had an average of 92 days on market in Mar 2024, down by 12.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 22603 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 7 homes were sold in 22603; 29% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 57% of homes were sold over 90 days.
