Is Albemarle County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Albemarle County is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Albemarle County has remained a Seller's Market.

Key Takeaway

Albemarle County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Albemarle County, VA

How much do homes in Albemarle County, VA cost?

Median Sold Price

$528,000

$238/sqft

Based on all homes sold in June 2024.

Difference Since Last Month

+$18,092(+3.5%)

Key Takeaway

Homes in Albemarle County have sold for 3.5% more than they did a month ago.

Summary: The median home sold price in Albemarle County was $528,000 in June 2024, up 3.5% from last month, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 $127.5K$215K
+68.6%
2 $255K$258.2K
+1.3%
3 $442.5K$470K
+6.2%
4 $622.4K$640K
+2.8%
5+ $1.0M$960K
-7.7%

Summary: Albemarle County housing prices by bedroom type for June 2024 compared to the previous month: The home price of 1 bedroom homes increased by 68.6%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 7.7%.

Median Sold Price Compared To Nearby Counties

Albemarle County
+3.5%
Fluvanna County
-3.8%

Housing Supply in Albemarle County, VA

How many homes are available in Albemarle County, VA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
565485-14.2%

Summary: The Albemarle County real estate market had 485 homes for sale in June 2024, a 14.2% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 96
-33.3%
2 2825
-10.7%
3 262214
-18.3%
4 200178
-11.0%
5+ 6662
-6.1%

Summary: The Albemarle County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes decreased by 18.3%, 4 bedroom homes decreased by 11%, and 5+ bedroom homes decreased by 6.1%.

Number of Homes Sold

May 2024Jun 2024CHANGE
152141-7.2%

Asking Price vs. Sold Price

45 Homes Were Sold
Under Asking

32 Homes Were Sold
At Asking

62 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albemarle County, you could pay more than the asking price. 44.6% of homes here sold above asking price last month.

Summary: A total of 141 homes were sold or pending in Albemarle County in June 2024, down by 7.2% month-over-month. Of the 139 sold homes, 32% were sold under asking, 23% were sold at asking, and 45% 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

May 2024Jun 2024CHANGE
18 Days22 Days+18.5%

Summary: Homes in Albemarle County had an average of 22 days on market in Jun 2024, up by 18.5% compared to last month.

Breakdown of Home Sale Times

112 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 141 homes were sold in Albemarle County; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% 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 26 Days Ago

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