Is 22742, 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, 22742 has remained a Buyer's Market.
Key Takeaway
22742 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 22742, VA
How much do homes in 22742, VA cost?
Median Sold Price
$532,450
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 22742 have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in 22742 was $532,450 in March 2024, down 3.2% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $335K | $470K | +40.3% |
| 4 Bedrooms | $632.1K | $555K | -12.2% |
| 5+ Bedrooms | - | $770K | N/A |
Summary: 22742 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 did not change, 3 bedroom homes increased by 40.3%, 4 bedroom homes decreased by 12.2%, and 5+ bedroom homes did not change.
Housing Supply in 22742, VA
How many homes are available in 22742, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 17 | -19.0% |
Summary: The 22742 real estate market had 17 homes for sale in March 2024, a 19.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 12 | 9 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 22742 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 100%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 22742, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 22742 in March 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 22742, VA
How long does it take to sell a home in 22742, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 6 Days | 131 Days | +2083.3% |
Summary: Homes in 22742 had an average of 131 days on market in Mar 2024, up by 2083.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 22742 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in 22742; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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.