Is 24016, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24016 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 24016 was a Seller's Market.

Key Takeaway

24016 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 24016, VA

How much do homes in 24016, VA cost?

Median Sold Price

$147,000

$98/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$35,950(-19.7%)

Key Takeaway

Homes in 24016 have sold for 19.7% less than they did a year ago.

Summary: The median home sold price in 24016 was $147,000 in February 2024, down 19.7% from last year, and the median price per square foot was $98.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $191K$225K
+17.8%
2 $180K$107.5K
-40.3%
3 $165K$164K
-0.6%
4 $207.5K$148.5K
-28.4%
5+ $196.9K$110K
-44.1%

Summary: 24016 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.8%, 2 bedroom homes decreased by 40.3%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 28.4%, and 5+ bedroom homes decreased by 44.1%.

Median Sold Price Compared To Nearby Zip Codes

24017
+9.2%
24015
+7.0%
24013
+4.1%
24016
-19.7%

Housing Supply in 24016, VA

How many homes are available in 24016, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2022+10.0%

Summary: The 24016 real estate market had 22 homes for sale in February 2024, a 10.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 21
-50.0%
2 54
-20.0%
3 912
+33.3%
4 45
+25.0%
5+ 00
0.0%

Summary: The 24016 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
51-80.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24016, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in 24016 in February 2024, down by 80.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for 24016, VA

We’re sorry, we don't have information for this market at the moment

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

Report Updated 27 Days Ago

Newest Listings in 24016, VA

Nearby Markets to 24016, VA