Is 24504, 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, 24504 has remained a Seller's Market.
Key Takeaway
24504 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24504, VA
How much do homes in 24504, VA cost?
Median Sold Price
$170,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 24504 have sold for 3.7% less than they did a year ago.
Summary: The median home sold price in 24504 was $170,000 in March 2024, down 3.7% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199.9K | $221.9K | +11.0% |
| 2 Bedrooms | $76.4K | $105K | +37.4% |
| 3 Bedrooms | $148.6K | $174.7K | +17.6% |
| 4 Bedrooms | $214.9K | $187.3K | -12.8% |
| 5+ Bedrooms | $399.9K | $350K | -12.5% |
Summary: 24504 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 37.4%, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes decreased by 12.5%.
Housing Supply in 24504, VA
How many homes are available in 24504, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 35 | +25.0% |
Summary: The 24504 real estate market had 35 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 | 1 | 2 | +100.0% |
| 2 Bedrooms | 7 | 4 | -42.9% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 5 | 9 | +80.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 24504 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 42.9%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 80%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 6 | -66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24504, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 24504 in March 2024, down by 66.7% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 24504, VA
How long does it take to sell a home in 24504, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 61 Days | +5.3% |
Summary: Homes in 24504 had an average of 61 days on market in Mar 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 24504 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 24504; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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