Is Amherst, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Amherst has remained a Seller's Market.
Key Takeaway
Amherst is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Amherst, VA
How much do homes in Amherst, VA cost?
Median Sold Price
$252,500
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Amherst have sold for 2% more than they did a year ago.
Summary: The median home sold price in Amherst was $252,500 in April 2024, up 2% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $199.9K | N/A |
| 2 Bedrooms | $172.4K | $150K | -13.0% |
| 3 Bedrooms | $232K | $252.5K | +8.8% |
| 4 Bedrooms | $336.5K | $345K | +2.5% |
| 5+ Bedrooms | - | $425K | N/A |
Summary: Amherst housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes did not change.
Housing Supply in Amherst, VA
How many homes are available in Amherst, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 35 | +40.0% |
Summary: The Amherst real estate market had 35 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 13 | 20 | +53.8% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Amherst housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 300%, 3 bedroom homes increased by 53.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Amherst, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Amherst in April 2024, down by 45.5% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Amherst, VA
How long does it take to sell a home in Amherst, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 27 Days | +24.1% |
Summary: Homes in Amherst had an average of 27 days on market in Apr 2024, up by 24.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Amherst are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Amherst; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.