Is 23111, 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, 23111 has remained a Seller's Market.
Key Takeaway
23111 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 23111, VA
How much do homes in 23111, VA cost?
Median Sold Price
$370,062
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 23111 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 23111 was $370,062 in March 2024, up 6.7% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $322.5K | $364.9K | +13.2% |
| 3 Bedrooms | $315K | $341K | +8.3% |
| 4 Bedrooms | $397K | $397K | 0.0% |
| 5+ Bedrooms | $512.4K | $530K | +3.4% |
Summary: 23111 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 increased by 13.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 3.4%.
Housing Supply in 23111, VA
How many homes are available in 23111, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 93 | 100 | +7.5% |
Summary: The 23111 real estate market had 100 homes for sale in March 2024, a 7.5% increase 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 | 7 | 9 | +28.6% |
| 3 Bedrooms | 46 | 43 | -6.5% |
| 4 Bedrooms | 27 | 30 | +11.1% |
| 5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The 23111 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 28.6%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 20 | -25.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 23111, you could pay more than the asking price. 55% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 23111 in March 2024, down by 25.9% month-over-month. Of the 20 sold homes, 15% were sold under asking, 30% were sold at asking, and 55% were sold over asking.
Days on Market for 23111, VA
How long does it take to sell a home in 23111, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 15 Days | 10 Days | -29.8% |
Summary: Homes in 23111 had an average of 10 days on market in Mar 2024, down by 29.8% compared to last year.
Breakdown of Home Sale Times
18 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 23111 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in 23111; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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