Is 22701, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 22701 was a Neutral Market.
Key Takeaway
22701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 22701, VA
How much do homes in 22701, VA cost?
Median Sold Price
$433,800
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 22701 have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in 22701 was $433,800 in April 2024, up 5.7% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | - | N/A |
| 2 Bedrooms | $275K | $272K | -1.1% |
| 3 Bedrooms | $356.8K | $380K | +6.5% |
| 4 Bedrooms | $465K | $479.5K | +3.1% |
| 5+ Bedrooms | $508K | $529.9K | +4.3% |
Summary: 22701 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 4.3%.
Housing Supply in 22701, VA
How many homes are available in 22701, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 145 | 164 | +13.1% |
Summary: The 22701 real estate market had 164 homes for sale in April 2024, a 13.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 56 | 52 | -7.1% |
| 4 Bedrooms | 55 | 70 | +27.3% |
| 5+ Bedrooms | 20 | 26 | +30.0% |
Summary: The 22701 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 45 | 40 | -11.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 22701, expect to pay close to the asking price. 47.5% of homes here sold near the asking price last month.
Summary: A total of 40 homes were sold or pending in 22701 in April 2024, down by 11.1% month-over-month. Of the 40 sold homes, 20% were sold under asking, 48% were sold at asking, and 33% were sold over asking.
Days on Market for 22701, VA
How long does it take to sell a home in 22701, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 28 Days | +1.8% |
Summary: Homes in 22701 had an average of 28 days on market in Apr 2024, up by 1.8% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 22701 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 40 homes were sold in 22701; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% 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. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved