Is 24522, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24522 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 24522 was a Seller's Market.

Key Takeaway

24522 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 24522, VA

How much do homes in 24522, VA cost?

Median Sold Price

$275,000

$156/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$15,100(+5.8%)

Key Takeaway

Homes in 24522 have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in 24522 was $275,000 in February 2024, up 5.8% from last year, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $95K-
N/A
2 $181K$176K
-2.8%
3 $269.9K$274.7K
+1.8%
4 $260K$318.5K
+22.5%
5+ $469K$442.5K
-5.7%

Summary: 24522 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes decreased by 5.7%.

Median Sold Price Compared To Nearby Zip Codes

24522
+5.8%
24538
0%

Housing Supply in 24522, VA

How many homes are available in 24522, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2839+39.3%

Summary: The 24522 real estate market had 39 homes for sale in February 2024, a 39.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1624
+50.0%
4 89
+12.5%
5+ 35
+66.7%

Summary: The 24522 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
115-54.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24522, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in 24522 in February 2024, down by 54.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.

Days on Market for 24522, VA

How long does it take to sell a home in 24522, VA?

Average Sale Time

Feb 2023Feb 2024CHANGE
82 Days48 Days-41.3%

Summary: Homes in 24522 had an average of 48 days on market in Feb 2024, down by 41.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 24522 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 5 homes were sold in 24522; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 24522, VA

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