Is Burke Centre, 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, Burke Centre has remained a Seller's Market.
Key Takeaway
Burke Centre is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burke Centre, VA
How much do homes in Burke Centre, VA cost?
Median Sold Price
$603,000
$317/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Burke Centre have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in Burke Centre was $603,000 in April 2024, up 10.1% from last year, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $310K | +8.8% |
| 2 Bedrooms | $395K | $331.9K | -16.0% |
| 3 Bedrooms | $525.7K | $555K | +5.6% |
| 4 Bedrooms | $735.5K | $815K | +10.8% |
| 5+ Bedrooms | $913.5K | $900K | -1.5% |
Summary: Burke Centre housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes decreased by 16%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 1.5%.
Housing Supply in Burke Centre, VA
How many homes are available in Burke Centre, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 | 46 | +53.3% |
Summary: The Burke Centre real estate market had 46 homes for sale in April 2024, a 53.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 12 | 19 | +58.3% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The Burke Centre housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 58.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burke Centre, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Burke Centre in April 2024, up by 60.0% month-over-month. Of the 16 sold homes, 6% were sold under asking, 19% were sold at asking, and 75% were sold over asking.
Days on Market for Burke Centre, VA
How long does it take to sell a home in Burke Centre, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 12 Days | +190.1% |
Summary: Homes in Burke Centre had an average of 12 days on market in Apr 2024, up by 190.1% compared to last year.
Breakdown of Home Sale Times
15 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 Burke Centre are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in Burke Centre; 94% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
