Is Dumfries, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Dumfries has remained a Seller's Market.
Housing Prices in Dumfries, VA
How much do homes in Dumfries, VA cost?
Median Sold Price
$547,448
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Dumfries was $547,448 in February 2024, up 4.6% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $372K | $375K | +0.8% |
3 Bedrooms | $385K | $470K | +22.1% |
4 Bedrooms | $605K | $619K | +2.3% |
5+ Bedrooms | $675.5K | $732.5K | +8.4% |
Summary: Dumfries housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 8.4%.
Housing Supply in Dumfries, VA
How many homes are available in Dumfries, VA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
178 | 182 | +2.2% |
Summary: The Dumfries real estate market had 182 homes for sale in February 2024, a 2.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 9 | -18.2% |
3 Bedrooms | 58 | 58 | 0.0% |
4 Bedrooms | 79 | 80 | +1.3% |
5+ Bedrooms | 30 | 35 | +16.7% |
Summary: The Dumfries housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
35 | 44 | +25.7% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 44 homes were sold or pending in Dumfries in February 2024, up by 25.7% month-over-month. Of the 44 sold homes, 32% were sold under asking, 34% were sold at asking, and 34% were sold over asking.
Days on Market for Dumfries, VA
How long does it take to sell a home in Dumfries, VA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
54 Days | 26 Days | -50.9% |
Summary: Homes in Dumfries had an average of 26 days on market in Feb 2024, down by 50.9% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 44 homes were sold in Dumfries; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.