Is Gainesboro, 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, Gainesboro was a Neutral Market.
Key Takeaway
Gainesboro is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Gainesboro, VA
How much do homes in Gainesboro, VA cost?
Median Sold Price
$419,900
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gainesboro have sold for 15% more than they did a year ago.
Summary: The median home sold price in Gainesboro was $419,900 in March 2024, up 15% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $267.5K | N/A |
| 2 Bedrooms | $175K | $340.5K | +94.6% |
| 3 Bedrooms | $330.7K | $395K | +19.4% |
| 4 Bedrooms | $435K | $467K | +7.4% |
| 5+ Bedrooms | $625K | $545K | -12.8% |
Summary: Gainesboro housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 94.6%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 12.8%.
Median Sold Price Compared To Nearby Cities
| Gainesboro | $365K | $419.9K | +15.0% |
| Winchester | $345.8K | $369K | +6.7% |
| Gore | $365K | $389K | +6.6% |
| Cross Junction | $374.9K | $385K | +2.7% |
| Bloomery | $275K | $225K | -18.2% |
Housing Supply in Gainesboro, VA
How many homes are available in Gainesboro, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 99 | 114 | +15.2% |
Summary: The Gainesboro real estate market had 114 homes for sale in March 2024, a 15.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 56 | 58 | +3.6% |
| 4 Bedrooms | 26 | 36 | +38.5% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Gainesboro housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gainesboro, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Gainesboro in March 2024, up by 11.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for Gainesboro, VA
How long does it take to sell a home in Gainesboro, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 108 Days | 48 Days | -55.2% |
Summary: Homes in Gainesboro had an average of 48 days on market in Mar 2024, down by 55.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gainesboro are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Gainesboro; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
