Is Albemarle County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Albemarle County was a Buyer's Market.
Housing Prices in Albemarle County, VA
How much do homes in Albemarle County, VA cost?
Median Sold Price
$542,000
$252/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Albemarle County was $542,000 in March 2024, up 15.3% from last month, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | - | N/A |
2 Bedrooms | $320K | $265K | -17.2% |
3 Bedrooms | $393K | $427.5K | +8.8% |
4 Bedrooms | $604.1K | $717.4K | +18.8% |
5+ Bedrooms | $975K | $924.8K | -5.1% |
Summary: Albemarle County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17.2%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 5.1%.
Housing Supply in Albemarle County, VA
How many homes are available in Albemarle County, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
558 | 617 | +10.6% |
Summary: The Albemarle County real estate market had 617 homes for sale in March 2024, a 10.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 34 | 34 | 0.0% |
3 Bedrooms | 204 | 238 | +16.7% |
4 Bedrooms | 227 | 253 | +11.5% |
5+ Bedrooms | 86 | 85 | -1.2% |
Summary: The Albemarle County 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 remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 1.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 90 | +30.4% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 90 homes were sold or pending in Albemarle County in March 2024, up by 30.4% month-over-month. Of the 90 sold homes, 36% were sold under asking, 21% were sold at asking, and 43% were sold over asking.
Days on Market for Albemarle County, VA
How long does it take to sell a home in Albemarle County, VA?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 44 Days | +10.7% |
Summary: Homes in Albemarle County had an average of 44 days on market in Mar 2024, up by 10.7% compared to last month.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 90 homes were sold in Albemarle County; 81% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.