$2,672 Closing Credit*
$225,000
2,862 SqFt
3 Beds
•1 Full Bath, 1 Partial
Krystyl Leonard, Listing Office: Encompass Realty
Is 23040, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, 23040 has remained a Seller's Market.
Key Takeaway
23040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 23040, VA
How much do homes in 23040, VA cost?
Median Sold Price
$296,125
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$41,125(+16.1%)
Key Takeaway
Homes in 23040 have sold for 16.1% more than they did a year ago.
Summary: The median home sold price in 23040 was $296,125 in August 2024, up 16.1% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | - | N/A |
| 2 Bedrooms | $130K | $189K | +45.4% |
| 3 Bedrooms | $273.5K | $295.2K | +8.0% |
| 4 Bedrooms | $400K | $382.5K | -4.4% |
| 5+ Bedrooms | $640K | $319.5K | -50.1% |
Summary: 23040 housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 45.4%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 50.1%.
Housing Supply in 23040, VA
How many homes are available in 23040, VA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 39 | 35 | -10.3% |
Summary: The 23040 real estate market had 35 homes for sale in August 2024, a 10.3% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 31 | 28 | -9.7% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 23040 housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 9.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 23040, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 23040 in August 2024, the same as the previous month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for 23040, VA
How long does it take to sell a home in 23040, VA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 14 Days | 18 Days | +33.0% |
Summary: Homes in 23040 had an average of 18 days on market in Aug 2024, up by 33% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 23040 are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 9 homes were sold in 23040; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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