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.

How much do homes in Albemarle County, VA cost?

Median Sold Price

$476,000

$210/sqft

Based on all homes sold in November 2022.

Difference Since Last Month

+$16,000(+3.5%)

Key Takeaway

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

Median Sold Price By Bedroom Count

# BEDSOct 2022Nov 2022%
1 --
N/A
2 $193.2K$320K
+65.6%
3 $385K$412.1K
+7.1%
4 $645K$680K
+5.4%
5+ $710K$685.1K
-3.5%

Median Sold Price Compared To Nearby Counties

Buckingham County
+4.5%
Albemarle County
+3.5%

How many homes are available in Albemarle County, VA?

Number of Homes For Sale

Oct 2022Nov 2022%
482395-18.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 24
+100.0%
2 4337
-14.0%
3 186149
-19.9%
4 173145
-16.2%
5+ 7860
-23.1%

Number of Homes Sold

Oct 2022Nov 2022%
106117+10.4%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

35 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albemarle County, you may be able to get a good deal. 46% of homes here sold below asking price last month.

Average Sale Time

Oct 2022Nov 2022%
21 Days24 Days+11.9%

Breakdown of Home Sale Times

91 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

13 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.

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

About Albemarle County, VA

Number of homes for sale in Albemarle County, VA real estate market have reached 395. The number of homes for sale in Albemarle County, VA decreased by 18% between October 2022 and November 2022. In November 2022, listings were on the market for 24 days. During the same period, the median list price in this real estate market was $476,000. Between November 2021 and November 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 0%, the cost of 2 bedrooms properties went up by 65.6%, 3 bedrooms properties prices increased by 7.1%, 4 bedrooms properties became 5.4% more expensive, prices of 5 bedrooms properties decreased by 3.5%. This housing market inventory have changed: the quantity of 1 bedroom homes went up by 100%, number of 2 bedrooms homes decreased by 14%, number of 3 bedrooms homes decreased by 19.9%, the quantity of 4 bedrooms homes went down by 16.2%, volume of 5 bedrooms homes went down by 23.1%. In November 2022 more than 26 listings in Albemarle County, VA were sold above the asking price. During the same period more than 35 listings were sold at asking price, while more than 52 were sold below.

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