Is Colonial Beach, 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, Colonial Beach has remained a Buyer's Market.
Key Takeaway
Colonial Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Colonial Beach, VA
How much do homes in Colonial Beach, VA cost?
Median Sold Price
$307,300
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Colonial Beach have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Colonial Beach was $307,300 in March 2024, down 0.6% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239.9K | $230K | -4.2% |
| 2 Bedrooms | $248.7K | $265K | +6.6% |
| 3 Bedrooms | $297.4K | $300K | +0.8% |
| 4 Bedrooms | $419.9K | $384.9K | -8.4% |
| 5+ Bedrooms | $1.6M | $409.9K | -74.4% |
Summary: Colonial Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes decreased by 74.4%.
Median Sold Price Compared To Nearby Cities
| Washington | $290K | $309.9K | +6.9% |
| Colonial Beach | $309K | $307.3K | -0.6% |
| Newburg | $378.2K | $340K | -10.1% |
Housing Supply in Colonial Beach, VA
How many homes are available in Colonial Beach, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 190 | 209 | +10.0% |
Summary: The Colonial Beach real estate market had 209 homes for sale in March 2024, a 10.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 20 | 27 | +35.0% |
| 3 Bedrooms | 124 | 129 | +4.0% |
| 4 Bedrooms | 37 | 43 | +16.2% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Colonial Beach 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 35%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colonial Beach, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Colonial Beach in March 2024, up by 16.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 36% were sold at asking, and 21% were sold over asking.
Days on Market for Colonial Beach, VA
How long does it take to sell a home in Colonial Beach, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 46 Days | +35.6% |
Summary: Homes in Colonial Beach had an average of 46 days on market in Mar 2024, up by 35.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colonial Beach are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Colonial Beach; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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