Is Colonial Heights, 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 Heights has remained a Seller's Market.
Key Takeaway
Colonial Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colonial Heights, VA
How much do homes in Colonial Heights, VA cost?
Median Sold Price
$276,250
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Colonial Heights have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Colonial Heights was $276,250 in March 2024, up 10.5% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $173.7K | $195K | +12.2% |
| 3 Bedrooms | $245.8K | $265K | +7.8% |
| 4 Bedrooms | $295K | $323.4K | +9.7% |
| 5+ Bedrooms | $375K | $420K | +12.0% |
Summary: Colonial Heights 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 12.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Cities
| Petersburg | $175K | $194.6K | +11.2% |
| Colonial Heights | $250K | $276.2K | +10.5% |
| Colonial Heights | $245K | $265K | +8.2% |
| Bermuda | $339.9K | $350K | +3.0% |
| Chester | $351K | $360K | +2.6% |
Housing Supply in Colonial Heights, VA
How many homes are available in Colonial Heights, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 108 | 105 | -2.8% |
Summary: The Colonial Heights real estate market had 105 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 | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 62 | 64 | +3.2% |
| 4 Bedrooms | 28 | 26 | -7.1% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Colonial Heights 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 decreased by 20%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 27 | -6.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colonial Heights, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in Colonial Heights in March 2024, down by 6.9% month-over-month. Of the 26 sold homes, 42% were sold under asking, 19% were sold at asking, and 38% were sold over asking.
Days on Market for Colonial Heights, VA
How long does it take to sell a home in Colonial Heights, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 22 Days | -25.0% |
Summary: Homes in Colonial Heights had an average of 22 days on market in Mar 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colonial Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in Colonial Heights; 67% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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