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
$235,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Hopewell was $235,000 in March 2024, up 12.9% from last year, and the median price per square foot was $159.
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 | $200K | $226.2K | +13.1% |
4 Bedrooms | $250K | $267.7K | +7.1% |
5+ Bedrooms | $327.5K | $300K | -8.4% |
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 13.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 8.4%.
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% |
Housing Supply in Hopewell, VA
How many homes are available in Hopewell, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
117 | 131 | +12.0% |
Summary: The Hopewell real estate market had 131 homes for sale in March 2024, a 12.0% 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 | 68 | 76 | +11.8% |
4 Bedrooms | 24 | 29 | +20.8% |
5+ Bedrooms | 13 | 14 | +7.7% |
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 11.8%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 30 | +15.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Hopewell in March 2024, up by 15.4% month-over-month. Of the 30 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% 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 |
---|---|---|
33 Days | 31 Days | -6.2% |
Summary: Homes in Hopewell had an average of 31 days on market in Mar 2024, down by 6.2% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in Hopewell; 67% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.