Is King George, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, King George was a Neutral Market.
Key Takeaway
King George is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in King George, VA
How much do homes in King George, VA cost?
Median Sold Price
$439,959
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in King George have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in King George was $439,959 in March 2024, up 4.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230.8K | - | N/A |
| 2 Bedrooms | $167.5K | $262K | +56.4% |
| 3 Bedrooms | $371.2K | $390.9K | +5.3% |
| 4 Bedrooms | $442.5K | $477.1K | +7.8% |
| 5+ Bedrooms | $495K | $502.5K | +1.5% |
Summary: King George 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 56.4%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Shiloh | $438K | $536K | +22.4% |
| James Monroe | $400K | $420K | +5.0% |
| King George | $419.9K | $439.9K | +4.8% |
| James Madison | $439K | $445K | +1.4% |
Housing Supply in King George, VA
How many homes are available in King George, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 212 | 218 | +2.8% |
Summary: The King George real estate market had 218 homes for sale in March 2024, a 2.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 82 | 82 | 0.0% |
| 4 Bedrooms | 92 | 94 | +2.2% |
| 5+ Bedrooms | 32 | 36 | +12.5% |
Summary: The King George housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 27 | +12.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in King George, you may be able to get a good deal. 40.7% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in King George in March 2024, up by 12.5% month-over-month. Of the 27 sold homes, 41% were sold under asking, 33% were sold at asking, and 26% were sold over asking.
Days on Market for King George, VA
How long does it take to sell a home in King George, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 38 Days | -17.6% |
Summary: Homes in King George had an average of 38 days on market in Mar 2024, down by 17.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in King George are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in King George; 70% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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