Is 23116, 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, 23116 has remained a Seller's Market.
Housing Prices in 23116, VA
How much do homes in 23116, VA cost?
Median Sold Price
$495,125
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 23116 was $495,125 in March 2024, up 7.6% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $268.5K | $365K | +35.9% |
3 Bedrooms | $365K | $397.5K | +8.9% |
4 Bedrooms | $496.9K | $510K | +2.6% |
5+ Bedrooms | $576K | $619.9K | +7.6% |
Summary: 23116 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 35.9%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 7.6%.
Housing Supply in 23116, VA
How many homes are available in 23116, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
113 | 123 | +8.8% |
Summary: The 23116 real estate market had 123 homes for sale in March 2024, a 8.8% 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 | 0 | 0 | 0.0% |
3 Bedrooms | 40 | 38 | -5.0% |
4 Bedrooms | 41 | 50 | +22.0% |
5+ Bedrooms | 32 | 35 | +9.4% |
Summary: The 23116 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 remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 9.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 29 | +26.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 23116 in March 2024, up by 26.1% month-over-month. Of the 29 sold homes, 10% were sold under asking, 38% were sold at asking, and 52% were sold over asking.
Days on Market for 23116, VA
How long does it take to sell a home in 23116, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
27 Days | 16 Days | -40.6% |
Summary: Homes in 23116 had an average of 16 days on market in Mar 2024, down by 40.6% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in 23116; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.