Is 24502, 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, 24502 has remained a Seller's Market.
Housing Prices in 24502, VA
How much do homes in 24502, VA cost?
Median Sold Price
$270,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 24502 was $270,000 in March 2024, up 8.5% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $199K | - | N/A |
2 Bedrooms | $170.7K | $189.9K | +11.2% |
3 Bedrooms | $247K | $270K | +9.3% |
4 Bedrooms | $272.5K | $292K | +7.2% |
5+ Bedrooms | $357K | $460K | +28.9% |
Summary: 24502 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 11.2%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 28.9%.
Housing Supply in 24502, VA
How many homes are available in 24502, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
76 | 132 | +73.7% |
Summary: The 24502 real estate market had 132 homes for sale in March 2024, a 73.7% 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 | 11 | 18 | +63.6% |
3 Bedrooms | 52 | 86 | +65.4% |
4 Bedrooms | 9 | 24 | +166.7% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 24502 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 63.6%, 3 bedroom homes increased by 65.4%, 4 bedroom homes increased by 166.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
33 | 40 | +21.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in 24502 in March 2024, up by 21.2% month-over-month. Of the 40 sold homes, 23% were sold under asking, 57% were sold at asking, and 20% were sold over asking.
Days on Market for 24502, VA
How long does it take to sell a home in 24502, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
16 Days | 18 Days | +11.1% |
Summary: Homes in 24502 had an average of 18 days on market in Mar 2024, up by 11.1% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 40 homes were sold in 24502; 83% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.