Is Cumberland County, 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, Cumberland County was a Seller's Market.
Housing Prices in Cumberland County, VA
How much do homes in Cumberland County, VA cost?
Median Sold Price
$290,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cumberland County was $290,000 in March 2024, up 7.4% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | - | N/A |
2 Bedrooms | $170K | $112.5K | -33.8% |
3 Bedrooms | $273.4K | $293.2K | +7.2% |
4 Bedrooms | $512.5K | $300K | -41.5% |
5+ Bedrooms | $384K | $472.5K | +23.0% |
Summary: Cumberland County 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 decreased by 33.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 41.5%, and 5+ bedroom homes increased by 23%.
Median Sold Price Compared To Nearby Counties
Buckingham County | $245K | $290K | +18.4% |
Prince Edward County | $250K | $277.5K | +11.0% |
Cumberland County | $270K | $290K | +7.4% |
Powhatan County | $397.5K | $425.7K | +7.1% |
Fluvanna County | $346K | $355.6K | +2.8% |
Housing Supply in Cumberland County, VA
How many homes are available in Cumberland County, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
31 | 36 | +16.1% |
Summary: The Cumberland County real estate market had 36 homes for sale in March 2024, a 16.1% increase 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 | 7 | +40.0% |
3 Bedrooms | 21 | 24 | +14.3% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Cumberland County 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 40%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 3 | -40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Cumberland County in March 2024, down by 40.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Cumberland County, VA
How long does it take to sell a home in Cumberland County, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
65 Days | 20 Days | -68.5% |
Summary: Homes in Cumberland County had an average of 20 days on market in Mar 2024, down by 68.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in Cumberland County; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.