Is Concord, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Concord is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Concord has remained a Seller's Market.

Key Takeaway

Concord is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Concord, VA

How much do homes in Concord, VA cost?

Median Sold Price

$275,000

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$9,900(-3.5%)

Key Takeaway

Homes in Concord have sold for 3.5% less than they did a year ago.

Summary: The median home sold price in Concord was $275,000 in September 2024, down 3.5% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $475K$425K
-10.5%
2 $211K$213K
+0.9%
3 $289.9K$264.9K
-8.6%
4 $325K$395K
+21.5%
5+ $439.4K$395K
-10.1%

Summary: Concord housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes decreased by 10.1%.

Median Sold Price Compared To Nearby Cities

Rustburg
+12.9%
Lynchburg
+9.6%
Lynchburg
+9.3%
Seneca
+0.8%
Concord
-3.5%

Housing Supply in Concord, VA

How many homes are available in Concord, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4943-12.2%

Summary: The Concord real estate market had 43 homes for sale in September 2024, a 12.2% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 96
-33.3%
3 2629
+11.5%
4 108
-20.0%
5+ 40
-100.0%

Summary: The Concord housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
11110.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Concord, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Concord in September 2024, the same as the previous month. Of the 11 sold homes, 36% were sold under asking, 36% were sold at asking, and 27% were sold over asking.

Days on Market for Concord, VA

How long does it take to sell a home in Concord, VA?

Average Sale Time

Sep 2023Sep 2024CHANGE
30 Days22 Days-27.0%

Summary: Homes in Concord had an average of 22 days on market in Sep 2024, down by 27% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Concord are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 11 homes were sold in Concord; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 15 Days Ago

Newest Listings in Concord, VA

Nearby Markets to Concord, VA

What housing markets are near Concord, VA?