Is 23607, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 23607 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 23607 was a Neutral Market.

Key Takeaway

23607 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 23607, VA

How much do homes in 23607, VA cost?

Median Sold Price

$130,000

$128/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$77,500(-37.3%)

Key Takeaway

Homes in 23607 have sold for 37.3% less than they did a month ago.

Summary: The median home sold price in 23607 was $130,000 in March 2024, down 37.3% from last month, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 --
N/A
2 --
N/A
3 $207.5K$130K
-37.3%
4 --
N/A
5+ --
N/A

Summary: 23607 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 37.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

23601
+47.9%
23607
-37.3%

Housing Supply in 23607, VA

How many homes are available in 23607, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
164189+15.2%

Summary: The 23607 real estate market had 189 homes for sale in March 2024, a 15.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 62
-66.7%
2 2426
+8.3%
3 7892
+17.9%
4 3646
+27.8%
5+ 2023
+15.0%

Summary: The 23607 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 15%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2721-22.2%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 23607, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in 23607 in March 2024, down by 22.2% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 23607, VA

How long does it take to sell a home in 23607, VA?

Average Sale Time

Feb 2024Mar 2024CHANGE
42 Days58 Days+39.1%

Summary: Homes in 23607 had an average of 58 days on market in Mar 2024, up by 39.1% compared to last month.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 23607 has remained consistent over time.

Summary: During March 2024, 21 homes were sold in 23607; 38% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 19% 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 18 Days Ago

Newest Listings in 23607, VA

Nearby Markets to 23607, VA