Is Cedar Run, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cedar Run was a Neutral Market.
Key Takeaway
Cedar Run is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cedar Run, VA
How much do homes in Cedar Run, VA cost?
Median Sold Price
$575,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cedar Run have sold for 4% less than they did a year ago.
Summary: The median home sold price in Cedar Run was $575,000 in March 2024, down 4% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229.9K | - | N/A |
| 2 Bedrooms | $320K | $377K | +17.8% |
| 3 Bedrooms | $449.9K | $475K | +5.6% |
| 4 Bedrooms | $655.3K | $674.9K | +3.0% |
| 5+ Bedrooms | $744.5K | $700K | -6.0% |
Summary: Cedar Run 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 increased by 17.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 6%.
Housing Supply in Cedar Run, VA
How many homes are available in Cedar Run, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 71 | 65 | -8.5% |
Summary: The Cedar Run real estate market had 65 homes for sale in March 2024, a 8.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 25 | 18 | -28.0% |
| 4 Bedrooms | 26 | 27 | +3.8% |
| 5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Cedar Run 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 increased by 20%, 3 bedroom homes decreased by 28%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 7 | -58.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Run, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Cedar Run in March 2024, down by 58.8% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Cedar Run, VA
How long does it take to sell a home in Cedar Run, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 103 Days | +318.7% |
Summary: Homes in Cedar Run had an average of 103 days on market in Mar 2024, up by 318.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cedar Run are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Cedar Run; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved