Is Luray, 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, Luray was a Seller's Market.
Key Takeaway
Luray is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Luray, VA
How much do homes in Luray, VA cost?
Median Sold Price
$269,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Luray have sold for 6.9% less than they did a year ago.
Summary: The median home sold price in Luray was $269,000 in March 2024, down 6.9% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $184.9K | N/A |
| 2 Bedrooms | $193K | $220K | +14.0% |
| 3 Bedrooms | $255K | $269K | +5.5% |
| 4 Bedrooms | $300K | $355K | +18.3% |
| 5+ Bedrooms | $435K | $679.9K | +56.3% |
Summary: Luray 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 14%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes increased by 56.3%.
Housing Supply in Luray, VA
How many homes are available in Luray, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 76 | +8.6% |
Summary: The Luray real estate market had 76 homes for sale in March 2024, a 8.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 42 | 44 | +4.8% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Luray housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Luray, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Luray in March 2024, up by 25.0% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for Luray, VA
How long does it take to sell a home in Luray, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 104 Days | 40 Days | -61.4% |
Summary: Homes in Luray had an average of 40 days on market in Mar 2024, down by 61.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Luray are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Luray; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.