Is 24248, 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, 24248 has remained a Seller's Market.
Key Takeaway
24248 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24248, VA
How much do homes in 24248, VA cost?
Median Sold Price
$132,000
$94/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 24248 have sold for 15.9% less than they did a year ago.
Summary: The median home sold price in 24248 was $132,000 in March 2024, down 15.9% from last year, and the median price per square foot was $94.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $75K | N/A |
| 2 Bedrooms | $233.8K | $132K | -43.6% |
| 3 Bedrooms | $157K | $136.5K | -13.1% |
| 4 Bedrooms | $106K | $247.5K | +133.5% |
| 5+ Bedrooms | $140K | $75K | -46.4% |
Summary: 24248 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 decreased by 43.6%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes increased by 133.5%, and 5+ bedroom homes decreased by 46.4%.
Median Sold Price Compared To Nearby Zip Codes
| 24281 | $95K | $148.2K | +56.1% |
| 24248 | $157K | $132K | -15.9% |
Housing Supply in 24248, VA
How many homes are available in 24248, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The 24248 real estate market had 11 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 24248 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24248, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 24248 in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 24248, VA
How long does it take to sell a home in 24248, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 99 Days | 16 Days | -83.3% |
Summary: Homes in 24248 had an average of 16 days on market in Mar 2024, down by 83.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 24248 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in 24248; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.