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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Abingdon is a neutral's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

Abingdon is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Abingdon, VA

How much do homes in Abingdon, VA cost?

Median Sold Price

$336,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$28,000(+9.1%)

Key Takeaway

Homes in Abingdon have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Abingdon was $336,000 in August 2024, up 9.1% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 -$120K
N/A
2 $180K$235K
+30.6%
3 $279.8K$319.2K
+14.1%
4 $383.2K$385K
0.5%
5+ $471K$625K
+32.7%

Summary: Abingdon housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.6%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 32.7%.

Median Sold Price Compared To Nearby Cities

York
+11.0%
Abingdon
+9.1%
Hayes
+8.3%
Gloucester
+3.3%
Ware
+2.8%

Housing Supply in Abingdon, VA

How many homes are available in Abingdon, VA?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
139140+0.7%

Summary: The Abingdon real estate market had 140 homes for sale in August 2024, a 0.7% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 1412
-14.3%
3 8284
+2.4%
4 3736
-2.7%
5+ 68
+33.3%

Summary: The Abingdon housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
3323-30.3%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Abingdon, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Abingdon in August 2024, down by 30.3% month-over-month. Of the 18 sold homes, 72% were sold under asking, 17% were sold at asking, and 11% were sold over asking.

Days on Market for Abingdon, VA

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

Average Sale Time

Aug 2023Aug 2024CHANGE
55 Days50 Days-8.2%

Summary: Homes in Abingdon had an average of 50 days on market in Aug 2024, down by 8.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 23 homes were sold in Abingdon; 43% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 17% 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 12 Days Ago

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