Is 23220, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 23220 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 23220 has remained a Seller's Market.

Key Takeaway

23220 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 23220, VA

How much do homes in 23220, VA cost?

Median Sold Price

$438,333

$296/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$17,866(+4.2%)

Key Takeaway

Homes in 23220 have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in 23220 was $438,333 in February 2024, up 4.2% from last year, and the median price per square foot was $296.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $205K$239.2K
+16.7%
2 $285K$355K
+24.6%
3 $455K$499K
+9.7%
4 $675K$715K
+5.9%
5+ $890K$1.3M
+53.1%

Summary: 23220 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 24.6%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 53.1%.

Median Sold Price Compared To Nearby Zip Codes

23219
+31.5%
23220
+4.2%

Housing Supply in 23220, VA

How many homes are available in 23220, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7284+16.7%

Summary: The 23220 real estate market had 84 homes for sale in February 2024, a 16.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 44
0.0%
2 1213
+8.3%
3 3647
+30.6%
4 1816
-11.1%
5+ 24
+100.0%

Summary: The 23220 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 30.6%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1423+64.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 23220, you could pay more than the asking price. 69.6% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in 23220 in February 2024, up by 64.3% month-over-month. Of the 23 sold homes, 13% were sold under asking, 17% were sold at asking, and 70% were sold over asking.

Days on Market for 23220, VA

How long does it take to sell a home in 23220, VA?

Average Sale Time

Feb 2023Feb 2024CHANGE
38 Days13 Days-64.1%

Summary: Homes in 23220 had an average of 13 days on market in Feb 2024, down by 64.1% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 23220 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 23 homes were sold in 23220; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 23220, VA

Nearby Markets to 23220, VA