Is 24224, 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, 24224 has remained a Seller's Market.
Key Takeaway
24224 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24224, VA
How much do homes in 24224, VA cost?
Median Sold Price
$187,500
$89/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 24224 have sold for 25.4% more than they did a year ago.
Summary: The median home sold price in 24224 was $187,500 in March 2024, up 25.4% from last year, and the median price per square foot was $89.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $34K | $89.9K | +164.6% |
| 3 Bedrooms | $148.1K | $197.7K | +33.5% |
| 4 Bedrooms | $149.5K | $187.5K | +25.4% |
| 5+ Bedrooms | $400K | $197.4K | -50.6% |
Summary: 24224 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 164.6%, 3 bedroom homes increased by 33.5%, 4 bedroom homes increased by 25.4%, and 5+ bedroom homes decreased by 50.6%.
Median Sold Price Compared To Nearby Zip Codes
| 24224 | $149.5K | $187.5K | +25.4% |
| 24283 | $150K | $145K | -3.3% |
Housing Supply in 24224, VA
How many homes are available in 24224, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Summary: The 24224 real estate market had 10 homes for sale in March 2024, a 25.0% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 24224 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 100%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24224, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 24224 in March 2024, up by 100.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 24224, VA
How long does it take to sell a home in 24224, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 144 Days | 203 Days | +40.2% |
Summary: Homes in 24224 had an average of 203 days on market in Mar 2024, up by 40.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 24224 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 3 homes were sold in 24224; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
