Is Bermuda, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Bermuda has remained a Seller's Market.
Housing Prices in Bermuda, VA
How much do homes in Bermuda, VA cost?
Median Sold Price
$350,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Bermuda was $350,000 in March 2024, up 3% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $210K | N/A |
2 Bedrooms | $252.5K | $210K | -16.8% |
3 Bedrooms | $295K | $320K | +8.5% |
4 Bedrooms | $371K | $390K | +5.1% |
5+ Bedrooms | $487K | $437.5K | -10.2% |
Summary: Bermuda housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 10.2%.
Median Sold Price Compared To Nearby Cities
Hopewell | $193.5K | $224.9K | +16.3% |
Colonial Heights | $250K | $276.2K | +10.5% |
Varina | $272.7K | $285K | +4.5% |
Bermuda | $339.9K | $350K | +3.0% |
Chester | $351K | $360K | +2.6% |
Housing Supply in Bermuda, VA
How many homes are available in Bermuda, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
254 | 247 | -2.8% |
Summary: The Bermuda real estate market had 247 homes for sale in March 2024, a 2.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 8 | 9 | +12.5% |
3 Bedrooms | 108 | 104 | -3.7% |
4 Bedrooms | 90 | 85 | -5.6% |
5+ Bedrooms | 47 | 47 | 0.0% |
Summary: The Bermuda housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
63 | 69 | +9.5% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 69 homes were sold or pending in Bermuda in March 2024, up by 9.5% month-over-month. Of the 69 sold homes, 29% were sold under asking, 35% were sold at asking, and 36% were sold over asking.
Days on Market for Bermuda, VA
How long does it take to sell a home in Bermuda, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 25 Days | -13.2% |
Summary: Homes in Bermuda had an average of 25 days on market in Mar 2024, down by 13.2% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 69 homes were sold in Bermuda; 71% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.