Is Locust Grove, 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, Locust Grove has remained a Seller's Market.
Housing Prices in Locust Grove, VA
How much do homes in Locust Grove, VA cost?
Median Sold Price
$410,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Locust Grove was $410,000 in April 2024, up 5.7% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $77.5K | N/A |
2 Bedrooms | $255K | $280K | +9.8% |
3 Bedrooms | $352.5K | $375K | +6.4% |
4 Bedrooms | $430K | $442.4K | +2.9% |
5+ Bedrooms | $450K | $464.9K | +3.3% |
Summary: Locust Grove 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 increased by 9.8%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Little River | $315K | $400K | +27.0% |
Locust Grove | $388K | $410K | +5.7% |
Housing Supply in Locust Grove, VA
How many homes are available in Locust Grove, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
125 | 124 | -0.8% |
Summary: The Locust Grove real estate market had 124 homes for sale in April 2024, a 0.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 54 | 60 | +11.1% |
4 Bedrooms | 52 | 37 | -28.8% |
5+ Bedrooms | 12 | 19 | +58.3% |
Summary: The Locust Grove housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 28.8%, and 5+ bedroom homes increased by 58.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
47 | 33 | -29.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Locust Grove in April 2024, down by 29.8% month-over-month. Of the 33 sold homes, 30% were sold under asking, 36% were sold at asking, and 33% were sold over asking.
Days on Market for Locust Grove, VA
How long does it take to sell a home in Locust Grove, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 49 Days | +128.8% |
Summary: Homes in Locust Grove had an average of 49 days on market in Apr 2024, up by 128.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in Locust Grove; 52% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.