Is George Washington, 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, George Washington has remained a Seller's Market.
Key Takeaway
George Washington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in George Washington, VA
How much do homes in George Washington, VA cost?
Median Sold Price
$439,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in George Washington have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in George Washington was $439,000 in March 2024, up 5.8% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $298K | N/A |
| 2 Bedrooms | $275K | $280K | +1.8% |
| 3 Bedrooms | $369.9K | $390.9K | +5.7% |
| 4 Bedrooms | $490K | $514.9K | +5.1% |
| 5+ Bedrooms | $687.5K | $565K | -17.8% |
Summary: George Washington 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 1.8%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 17.8%.
Median Sold Price Compared To Nearby Cities
| George Washington | $415K | $439K | +5.8% |
| Fredericksburg | $414.9K | $437.3K | +5.4% |
| Fredericksburg | $429.9K | $438.2K | +1.9% |
| James Madison | $439K | $445K | +1.4% |
| Falmouth | $425K | $430K | +1.2% |
Housing Supply in George Washington, VA
How many homes are available in George Washington, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 124 | 132 | +6.5% |
Summary: The George Washington real estate market had 132 homes for sale in March 2024, a 6.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 5 | -37.5% |
| 3 Bedrooms | 31 | 38 | +22.6% |
| 4 Bedrooms | 66 | 67 | +1.5% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The George Washington 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 decreased by 37.5%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 24 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in George Washington, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 24 homes were sold or pending in George Washington in March 2024, up by 100.0% month-over-month. Of the 24 sold homes, 25% were sold under asking, 42% were sold at asking, and 33% were sold over asking.
Days on Market for George Washington, VA
How long does it take to sell a home in George Washington, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 20 Days | 35 Days | +74.0% |
Summary: Homes in George Washington had an average of 35 days on market in Mar 2024, up by 74% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in George Washington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 24 homes were sold in George Washington; 79% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 13% 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.