Is 24501, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24501 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 24501 has remained a Seller's Market.

Key Takeaway

24501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 24501, VA cost?

Median Sold Price

$128,450

$103/sqft

Based on all homes sold in December 2021.

Difference Since Last Month

-$21,550(-14.4%)

Key Takeaway

Homes in 24501 have sold for 14.4% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Dec 2021%
1 -$49K
N/A
2 $110.2K$94.9K
-13.9%
3 $155K$162K
+4.5%
4 $285K$122K
-57.2%
5+ $237K$200K
-15.6%

Median Sold Price Compared To Nearby Zip Codes

24588
+91.8%
24504
+20.2%
24503
+0.6%
24502
-10.5%
24501
-14.4%

How many homes are available in 24501, VA?

Number of Homes For Sale

Nov 2021Dec 2021%
119140+17.6%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 12
+100.0%
2 2940
+37.9%
3 6174
+21.3%
4 2523
-8.0%
5+ 31
-66.7%

Number of Homes Sold

Nov 2021Dec 2021%
3036+20.0%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24501, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Dec 2021%
16 Days33 Days+98.8%

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 24501 are selling fast, if you're buying plan to act quickly.

About 24501, VA

24501, VA has 140 homes for sale to choose from. The number of listings in 24501, VA increased by 17.6% between November 2021 and December 2021. Listings spent 33 days on the market in December 2021, and had a median list price of $128,450 during the same period. Between December 2020 and December 2021, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties decreased by 13.9%, prices of 3 bedrooms properties increased by 4.5%, prices of 4 bedrooms properties decreased by 57.2%, 5 bedrooms properties prices decreased by 15.6%. Housing inventory have changed in this real estate market: 1 bedroom homes became 100% more available, volume of 2 bedrooms homes went up by 37.9%, 3 bedrooms homes became 21.3% more available, number of 4 bedrooms homes decreased by 8%, the quantity of 5 bedrooms homes went down by 66.7%. In December 2021 more than 11 listings in 24501, VA were sold above the asking price. During the same period more than 7 listings were sold at asking price, while more than 18 were sold below.