Is Independent Hill, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Independent Hill has remained a Seller's Market.
Key Takeaway
Independent Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Independent Hill, VA
How much do homes in Independent Hill, VA cost?
Median Sold Price
$699,500
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Independent Hill have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Independent Hill was $699,500 in April 2024, up 4.4% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $421.3K | $391.7K | -7.0% |
| 3 Bedrooms | $535.4K | $547K | +2.1% |
| 4 Bedrooms | $677K | $680K | 0.4% |
| 5+ Bedrooms | $725K | $754.5K | +4.1% |
Summary: Independent Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 4.1%.
Housing Supply in Independent Hill, VA
How many homes are available in Independent Hill, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 35 | +66.7% |
Summary: The Independent Hill real estate market had 35 homes for sale in April 2024, a 66.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 3 | 6 | +100.0% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 6 | 16 | +166.7% |
Summary: The Independent Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 166.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independent Hill, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Independent Hill in April 2024, down by 33.3% month-over-month. Of the 6 sold homes, 0% were sold under asking, 17% were sold at asking, and 83% were sold over asking.
Days on Market for Independent Hill, VA
How long does it take to sell a home in Independent Hill, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 16 Days | 6 Days | -61.8% |
Summary: Homes in Independent Hill had an average of 6 days on market in Apr 2024, down by 61.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Independent Hill are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Independent Hill; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
