Is Front Royal, 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, Front Royal was a Seller's Market.
Key Takeaway
Front Royal is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Front Royal, VA
How much do homes in Front Royal, VA cost?
Median Sold Price
$364,250
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Front Royal have sold for 21.4% more than they did a year ago.
Summary: The median home sold price in Front Royal was $364,250 in March 2024, up 21.4% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $62K | $182.5K | +194.4% |
| 2 Bedrooms | $242K | $267.5K | +10.5% |
| 3 Bedrooms | $320K | $362.5K | +13.3% |
| 4 Bedrooms | $332.4K | $423.5K | +27.4% |
| 5+ Bedrooms | $388.6K | $439K | +12.9% |
Summary: Front Royal housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 194.4%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 27.4%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| Front Royal | $300K | $364.2K | +21.4% |
| Happy Creek | $336K | $400K | +19.0% |
| Fork | $360K | $388.5K | +7.9% |
| Shenandoah | $335K | $349.4K | +4.3% |
| North River | $355K | $327.5K | -7.7% |
Housing Supply in Front Royal, VA
How many homes are available in Front Royal, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 201 | 232 | +15.4% |
Summary: The Front Royal real estate market had 232 homes for sale in March 2024, a 15.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 23 | 26 | +13.0% |
| 3 Bedrooms | 102 | 117 | +14.7% |
| 4 Bedrooms | 60 | 70 | +16.7% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The Front Royal 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 13%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 33 | +26.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Front Royal, you could pay more than the asking price. 36.4% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Front Royal in March 2024, up by 26.9% month-over-month. Of the 33 sold homes, 30% were sold under asking, 33% were sold at asking, and 36% were sold over asking.
Days on Market for Front Royal, VA
How long does it take to sell a home in Front Royal, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 47 Days | +2.2% |
Summary: Homes in Front Royal had an average of 47 days on market in Mar 2024, up by 2.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Front Royal are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 33 homes were sold in Front Royal; 67% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
