Is Dranesville, 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, Dranesville has remained a Buyer's Market.
Key Takeaway
Dranesville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Dranesville, VA
How much do homes in Dranesville, VA cost?
Median Sold Price
$1,218,750
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Dranesville have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in Dranesville was $1,218,750 in March 2024, up 10.7% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $276K | -4.8% |
| 2 Bedrooms | $357K | $350K | -2.0% |
| 3 Bedrooms | $692K | $676.5K | -2.2% |
| 4 Bedrooms | $1.0M | $1.0M | +2.6% |
| 5+ Bedrooms | $1.6M | $1.8M | +9.6% |
Summary: Dranesville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
| Dranesville | $1.1M | $1.2M | +10.7% |
| Hunter Mill | $658.3K | $703.1K | +6.8% |
| Mc Lean | $1.2M | $1.2M | +6.4% |
| Sugarland Run | $599.5K | $628.7K | +4.9% |
| Providence | $616.1K | $635.2K | +3.1% |
Housing Supply in Dranesville, VA
How many homes are available in Dranesville, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 810 | 876 | +8.1% |
Summary: The Dranesville real estate market had 876 homes for sale in March 2024, a 8.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 21 | 28 | +33.3% |
| 3 Bedrooms | 82 | 96 | +17.1% |
| 4 Bedrooms | 153 | 163 | +6.5% |
| 5+ Bedrooms | 545 | 580 | +6.4% |
Summary: The Dranesville 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 33.3%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 6.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 67 | 87 | +29.9% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dranesville, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 87 homes were sold or pending in Dranesville in March 2024, up by 29.9% month-over-month. Of the 87 sold homes, 26% were sold under asking, 21% were sold at asking, and 53% were sold over asking.
Days on Market for Dranesville, VA
How long does it take to sell a home in Dranesville, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 27 Days | -4.5% |
Summary: Homes in Dranesville had an average of 27 days on market in Mar 2024, down by 4.5% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dranesville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 87 homes were sold in Dranesville; 84% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
