Is Mount Vernon, 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, Mount Vernon was a Seller's Market.
Key Takeaway
Mount Vernon is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mount Vernon, VA
How much do homes in Mount Vernon, VA cost?
Median Sold Price
$660,668
$325/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mount Vernon have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Mount Vernon was $660,668 in March 2024, up 1.6% from last year, and the median price per square foot was $325.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $215K | -6.5% |
| 2 Bedrooms | $395K | $406.7K | +3.0% |
| 3 Bedrooms | $582.5K | $610K | +4.7% |
| 4 Bedrooms | $775K | $805K | +3.9% |
| 5+ Bedrooms | $940K | $950K | +1.1% |
Summary: Mount Vernon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Alexandria | $590K | $628.5K | +6.5% |
| Alexandria | $600.9K | $630.2K | +4.9% |
| Lee | $575K | $589.9K | +2.6% |
| Mount Vernon | $650K | $660.6K | +1.6% |
Housing Supply in Mount Vernon, VA
How many homes are available in Mount Vernon, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 480 | 530 | +10.4% |
Summary: The Mount Vernon real estate market had 530 homes for sale in March 2024, a 10.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 25 | +8.7% |
| 2 Bedrooms | 62 | 70 | +12.9% |
| 3 Bedrooms | 122 | 128 | +4.9% |
| 4 Bedrooms | 161 | 179 | +11.2% |
| 5+ Bedrooms | 112 | 128 | +14.3% |
Summary: The Mount Vernon housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 76 | 75 | -1.3% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Vernon, you could pay more than the asking price. 52% of homes here sold above asking price last month.
Summary: A total of 75 homes were sold or pending in Mount Vernon in March 2024, down by 1.3% month-over-month. Of the 75 sold homes, 33% were sold under asking, 15% were sold at asking, and 52% were sold over asking.
Days on Market for Mount Vernon, VA
How long does it take to sell a home in Mount Vernon, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 17 Days | -30.7% |
Summary: Homes in Mount Vernon had an average of 17 days on market in Mar 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
63 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mount Vernon are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 75 homes were sold in Mount Vernon; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% 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.