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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Dumfries is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

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

+$24,003(+4.6%)

Key Takeaway

Homes in Dumfries have sold for 4.6% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $372K$375K
+0.8%
3 $385K$470K
+22.1%
4 $605K$619K
+2.3%
5+ $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 2024Feb 2024CHANGE
178182+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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 119
-18.2%
3 5858
0.0%
4 7980
+1.3%
5+ 3035
+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 2024Feb 2024CHANGE
3544+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Dumfries, expect to pay close to the asking price. 34.1% of homes here sold near the asking price last month.

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 2023Feb 2024CHANGE
54 Days26 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 28 Days Ago

Newest Listings in Dumfries, VA

Nearby Markets to Dumfries, VA