Is 22947, 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, 22947 has remained a Buyer's Market.
Key Takeaway
22947 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 22947, VA
How much do homes in 22947, VA cost?
Median Sold Price
$859,500
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 22947 have sold for 21.5% more than they did a year ago.
Summary: The median home sold price in 22947 was $859,500 in March 2024, up 21.5% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $680K | $265K | -61.0% |
| 3 Bedrooms | $550K | $675K | +22.7% |
| 4 Bedrooms | $977.1K | $888.5K | -9.1% |
| 5+ Bedrooms | $1.3M | $1.0M | -24.6% |
Summary: 22947 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 decreased by 61%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 24.6%.
Housing Supply in 22947, VA
How many homes are available in 22947, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 65 | +10.2% |
Summary: The 22947 real estate market had 65 homes for sale in March 2024, a 10.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 17 | 19 | +11.8% |
| 4 Bedrooms | 24 | 29 | +20.8% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The 22947 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 22947, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 22947 in March 2024, up by 40.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for 22947, VA
How long does it take to sell a home in 22947, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 6 Days | 68 Days | +957.1% |
Summary: Homes in 22947 had an average of 68 days on market in Mar 2024, up by 957.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 22947 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 22947; 43% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 57% of homes were sold over 90 days.
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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.