Is Glen Allen, 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, Glen Allen has remained a Seller's Market.
Housing Prices in Glen Allen, VA
How much do homes in Glen Allen, VA cost?
Median Sold Price
$477,981
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Glen Allen was $477,981 in March 2024, up 3.9% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160.2K | $180.2K | +12.5% |
2 Bedrooms | $256.7K | $270K | +5.2% |
3 Bedrooms | $385K | $410K | +6.5% |
4 Bedrooms | $481.5K | $520.7K | +8.2% |
5+ Bedrooms | $730.1K | $799.9K | +9.6% |
Summary: Glen Allen housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
South Anna | $438.8K | $502K | +14.4% |
Brookland | $340K | $370K | +8.8% |
Chickahominy | $450K | $488.9K | +8.7% |
Three Chopt | $470.7K | $500.2K | +6.3% |
Glen Allen | $460K | $477.9K | +3.9% |
Housing Supply in Glen Allen, VA
How many homes are available in Glen Allen, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
234 | 235 | 0.4% |
Summary: The Glen Allen real estate market had 235 homes for sale in March 2024, a 0.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 15 | 14 | -6.7% |
3 Bedrooms | 95 | 105 | +10.5% |
4 Bedrooms | 66 | 65 | -1.5% |
5+ Bedrooms | 57 | 51 | -10.5% |
Summary: The Glen Allen housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
67 | 55 | -17.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 55 homes were sold or pending in Glen Allen in March 2024, down by 17.9% month-over-month. Of the 55 sold homes, 15% were sold under asking, 15% were sold at asking, and 71% were sold over asking.
Days on Market for Glen Allen, VA
How long does it take to sell a home in Glen Allen, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 16 Days | -10.7% |
Summary: Homes in Glen Allen had an average of 16 days on market in Mar 2024, down by 10.7% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 55 homes were sold in Glen Allen; 82% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.