Is Mechanicsville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Mechanicsville has remained a Seller's Market.
Housing Prices in Mechanicsville, VA
How much do homes in Mechanicsville, VA cost?
Median Sold Price
$415,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Mechanicsville was $415,000 in February 2024, up 3.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $303.7K | $359.4K | +18.3% |
3 Bedrooms | $336.5K | $356.6K | +6.0% |
4 Bedrooms | $452K | $455K | +0.7% |
5+ Bedrooms | $566.7K | $600K | +5.9% |
Summary: Mechanicsville housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
Fairfield | $289.9K | $326.2K | +12.5% |
Chickahominy | $458.7K | $482.5K | +5.2% |
Mechanicsville | $401.7K | $415K | +3.3% |
Henry | $430K | $439.9K | +2.3% |
Cold Harbor | $409.9K | $399K | -2.7% |
Housing Supply in Mechanicsville, VA
How many homes are available in Mechanicsville, VA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
182 | 205 | +12.6% |
Summary: The Mechanicsville real estate market had 205 homes for sale in February 2024, a 12.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 76 | 84 | +10.5% |
4 Bedrooms | 60 | 68 | +13.3% |
5+ Bedrooms | 40 | 47 | +17.5% |
Summary: The Mechanicsville housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 17.5%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
34 | 48 | +41.2% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 48 homes were sold or pending in Mechanicsville in February 2024, up by 41.2% month-over-month. Of the 48 sold homes, 38% were sold under asking, 21% were sold at asking, and 42% were sold over asking.
Days on Market for Mechanicsville, VA
How long does it take to sell a home in Mechanicsville, VA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
25 Days | 52 Days | +106.2% |
Summary: Homes in Mechanicsville had an average of 52 days on market in Feb 2024, up by 106.2% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During February 2024, 48 homes were sold in Mechanicsville; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.