Is Norton, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Norton was a Buyer's Market.
Key Takeaway
Norton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norton, VA
How much do homes in Norton, VA cost?
Median Sold Price
$110,000
$69/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Norton have sold for 24.9% less than they did a year ago.
Summary: The median home sold price in Norton was $110,000 in April 2024, down 24.9% from last year, and the median price per square foot was $69.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $58K | N/A |
| 2 Bedrooms | $57K | $63K | +10.5% |
| 3 Bedrooms | $136.8K | $110K | -19.6% |
| 4 Bedrooms | $212.5K | $172.5K | -18.8% |
| 5+ Bedrooms | $202.5K | $220K | +8.6% |
Summary: Norton 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 10.5%, 3 bedroom homes decreased by 19.6%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes increased by 8.6%.
Median Sold Price Compared To Nearby Cities
| Norton | $146.5K | $110K | -24.9% |
| Norton | $146.5K | $110K | -24.9% |
Housing Supply in Norton, VA
How many homes are available in Norton, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The Norton real estate market had 17 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Norton 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 decreased by 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norton, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Norton in April 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Norton, VA
How long does it take to sell a home in Norton, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 79 Days | +68.8% |
Summary: Homes in Norton had an average of 79 days on market in Apr 2024, up by 68.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Norton has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Norton; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
