Is Lorton, 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, Lorton has remained a Seller's Market.
Key Takeaway
Lorton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lorton, VA
How much do homes in Lorton, VA cost?
Median Sold Price
$585,000
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lorton have sold for 4.9% less than they did a year ago.
Summary: The median home sold price in Lorton was $585,000 in April 2024, down 4.9% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $245K | $395K | +61.2% |
| 3 Bedrooms | $535K | $520K | -2.8% |
| 4 Bedrooms | $705.9K | $730.5K | +3.5% |
| 5+ Bedrooms | $844.9K | $852K | +0.8% |
Summary: Lorton 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 61.2%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 0.8%.
Housing Supply in Lorton, VA
How many homes are available in Lorton, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 32 | +14.3% |
Summary: The Lorton real estate market had 32 homes for sale in April 2024, a 14.3% 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lorton 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lorton, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Lorton in April 2024, up by 44.4% month-over-month. Of the 13 sold homes, 8% were sold under asking, 8% were sold at asking, and 85% were sold over asking.
Days on Market for Lorton, VA
How long does it take to sell a home in Lorton, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 8 Days | 6 Days | -23.2% |
Summary: Homes in Lorton had an average of 6 days on market in Apr 2024, down by 23.2% compared to last year.
Breakdown of Home Sale Times
13 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 Lorton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Lorton; 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.
