Is Long Island, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Long Island has remained a Seller's Market.
Key Takeaway
Long Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Long Island, VA
How much do homes in Long Island, VA cost?
Median Sold Price
$50,000
$36/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Long Island have sold for 84.1% less than they did a month ago.
Summary: The median home sold price in Long Island was $50,000 in March 2024, down 84.1% from last month, and the median price per square foot was $36.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $50K | N/A |
| 3 Bedrooms | $313.7K | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Long Island housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Banister | $497.2K | $139.9K | -71.9% |
| Long Island | $313.7K | $50K | -84.1% |
Housing Supply in Long Island, VA
How many homes are available in Long Island, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Summary: The Long Island real estate market had 4 homes for sale in March 2024, a 100.0% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Long Island 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Long Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Long Island in March 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Long Island, VA
How long does it take to sell a home in Long Island, VA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 Days | 5 Days | 0.0% |
Summary: Homes in Long Island had an average of 5 days on market in Mar 2024, the same as last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Long Island are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Long Island; 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.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.