Is Gainesville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Gainesville has remained a Seller's Market.
Housing Prices in Gainesville, VA
How much do homes in Gainesville, VA cost?
Median Sold Price
$588,192
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Gainesville was $588,192 in March 2024, up 6% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $192.5K | $221K | +14.8% |
2 Bedrooms | $360K | $385K | +6.9% |
3 Bedrooms | $475K | $495K | +4.2% |
4 Bedrooms | $679K | $740.7K | +9.1% |
5+ Bedrooms | $862.5K | $915.5K | +6.1% |
Summary: Gainesville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
Haymarket | $652.9K | $723.3K | +10.8% |
Chantilly | $666.8K | $729K | +9.3% |
Gainesville | $554.8K | $588.1K | +6.0% |
Broad Run | $691.1K | $710.5K | +2.8% |
Housing Supply in Gainesville, VA
How many homes are available in Gainesville, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
327 | 374 | +14.4% |
Summary: The Gainesville real estate market had 374 homes for sale in March 2024, a 14.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 32 | 33 | +3.1% |
3 Bedrooms | 123 | 139 | +13.0% |
4 Bedrooms | 97 | 115 | +18.6% |
5+ Bedrooms | 75 | 86 | +14.7% |
Summary: The Gainesville 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 3.1%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 14.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
58 | 66 | +13.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 66 homes were sold or pending in Gainesville in March 2024, up by 13.8% month-over-month. Of the 66 sold homes, 17% were sold under asking, 15% were sold at asking, and 68% were sold over asking.
Days on Market for Gainesville, VA
How long does it take to sell a home in Gainesville, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
15 Days | 12 Days | -19.7% |
Summary: Homes in Gainesville had an average of 12 days on market in Mar 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 66 homes were sold in Gainesville; 91% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.