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 neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Albemarle County was a Buyer's Market.

Key Takeaway

Albemarle County 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 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

+$72,000(+15.3%)

Key Takeaway

Homes in Albemarle County have sold for 15.3% more than they did a month ago.

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

# BEDSFeb 2024Mar 2024CHANGE
1 $170K-
N/A
2 $320K$265K
-17.2%
3 $393K$427.5K
+8.8%
4 $604.1K$717.4K
+18.8%
5+ $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 2024Mar 2024CHANGE
558617+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

# BEDSFeb 2024Mar 2024CHANGE
1 77
0.0%
2 3434
0.0%
3 204238
+16.7%
4 227253
+11.5%
5+ 8685
-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 2024Mar 2024CHANGE
6990+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albemarle County, you could pay more than the asking price. 43.3% of homes here sold above asking price last month.

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 2024Mar 2024CHANGE
40 Days44 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

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 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.

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

Report Updated 17 Days Ago

Newest Listings in Albemarle County, VA

Nearby Markets to Albemarle County, VA

What housing markets are near Albemarle County, VA?