Is Hopewell, 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, Hopewell has remained a Seller's Market.
Housing Prices in Hopewell, VA
How much do homes in Hopewell, VA cost?
Median Sold Price
$224,991
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Hopewell was $224,991 in March 2024, up 16.3% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $201.5K | $190K | -5.7% |
2 Bedrooms | $130K | $160K | +23.1% |
3 Bedrooms | $190.7K | $210K | +10.1% |
4 Bedrooms | $231.7K | $250K | +7.9% |
5+ Bedrooms | $275K | $282.9K | +2.9% |
Summary: Hopewell housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 2.9%.
Median Sold Price Compared To Nearby Cities
Hopewell | $193.5K | $224.9K | +16.3% |
Hopewell | $208K | $235K | +12.9% |
Bland | $310K | $335K | +8.1% |
Prince George | $305K | $324.9K | +6.5% |
Bermuda | $339.9K | $350K | +3.0% |
Housing Supply in Hopewell, VA
How many homes are available in Hopewell, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
94 | 104 | +10.6% |
Summary: The Hopewell real estate market had 104 homes for sale in March 2024, a 10.6% 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 | 12 | 12 | 0.0% |
3 Bedrooms | 55 | 62 | +12.7% |
4 Bedrooms | 17 | 20 | +17.6% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Hopewell 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 remained the same, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 21 | +10.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Hopewell in March 2024, up by 10.5% month-over-month. Of the 21 sold homes, 24% were sold under asking, 29% were sold at asking, and 48% were sold over asking.
Days on Market for Hopewell, VA
How long does it take to sell a home in Hopewell, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 33 Days | +9.6% |
Summary: Homes in Hopewell had an average of 33 days on market in Mar 2024, up by 9.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in Hopewell; 62% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.