$65,000
15.01 Acres
Land
ANNE BUTEAU, Listing Office: MONTAGUE, MILLER & CO. - AMHERST
Is East, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, East was a Seller's Market.
Key Takeaway
East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in East, VA
How much do homes in East, VA cost?
Median Sold Price
$270,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$20,000(+8.0%)
Key Takeaway
Homes in East have sold for 8% more than they did a year ago.
Summary: The median home sold price in East was $270,000 in August 2024, up 8% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | $173.6K | $195K | +12.3% |
| 3 Bedrooms | $265K | $285K | +7.5% |
| 4 Bedrooms | $250K | $280K | +12.0% |
| 5+ Bedrooms | $1.1M | $250K | -78.6% |
Summary: East housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 78.6%.
Housing Supply in East, VA
How many homes are available in East, VA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 15 | 11 | -26.7% |
Summary: The East real estate market had 11 homes for sale in August 2024, a 26.7% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The East housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 6 | 1 | -83.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in East, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in East in August 2024, down by 83.3% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for East, VA
How long does it take to sell a home in East, VA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 79 Days | 145 Days | +81.8% |
Summary: Homes in East had an average of 145 days on market in Aug 2024, up by 81.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in East are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During August 2024, 1 homes were sold in East; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved