Is 23227, 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, 23227 has remained a Seller's Market.
Key Takeaway
23227 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 23227, VA
How much do homes in 23227, VA cost?
Median Sold Price
$382,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 23227 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 23227 was $382,000 in March 2024, up 6.6% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $83.7K | $120K | +43.3% |
| 2 Bedrooms | $313.7K | $244.5K | -22.1% |
| 3 Bedrooms | $343.5K | $360K | +4.8% |
| 4 Bedrooms | $411.2K | $455K | +10.6% |
| 5+ Bedrooms | $645K | $425.2K | -34.1% |
Summary: 23227 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.3%, 2 bedroom homes decreased by 22.1%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes decreased by 34.1%.
Housing Supply in 23227, VA
How many homes are available in 23227, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 57 | 53 | -7.0% |
Summary: The 23227 real estate market had 53 homes for sale in March 2024, a 7.0% decrease 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 | 3 | 7 | +133.3% |
| 3 Bedrooms | 34 | 29 | -14.7% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 23227 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 133.3%, 3 bedroom homes decreased by 14.7%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 23227, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 23227 in March 2024, up by 15.8% month-over-month. Of the 22 sold homes, 32% were sold under asking, 5% were sold at asking, and 64% were sold over asking.
Days on Market for 23227, VA
How long does it take to sell a home in 23227, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 14 Days | 40 Days | +185.7% |
Summary: Homes in 23227 had an average of 40 days on market in Mar 2024, up by 185.7% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 23227 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in 23227; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% 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