Is Orange County, 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, Orange County was a Neutral Market.
Housing Prices in Orange County, VA
How much do homes in Orange County, VA cost?
Median Sold Price
$399,700
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Orange County was $399,700 in March 2024, up 9.8% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $142.5K | N/A |
2 Bedrooms | $242.8K | $249K | +2.5% |
3 Bedrooms | $331.4K | $365K | +10.1% |
4 Bedrooms | $430K | $450K | +4.7% |
5+ Bedrooms | $437.4K | $495K | +13.2% |
Summary: Orange County 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 2.5%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 13.2%.
Median Sold Price Compared To Nearby Counties
Louisa County | $351.2K | $390.2K | +11.1% |
Orange County | $364K | $399.7K | +9.8% |
Culpeper County | $416K | $450.8K | +8.4% |
Spotsylvania County | $405K | $434.3K | +7.2% |
Madison County | $391K | $385K | -1.5% |
Housing Supply in Orange County, VA
How many homes are available in Orange County, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
394 | 393 | -0.3% |
Summary: The Orange County real estate market had 393 homes for sale in March 2024, a 0.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 22 | 19 | -13.6% |
3 Bedrooms | 200 | 190 | -5.0% |
4 Bedrooms | 130 | 141 | +8.5% |
5+ Bedrooms | 42 | 43 | +2.4% |
Summary: The Orange County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.6%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 2.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 81 | +44.6% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 81 homes were sold or pending in Orange County in March 2024, up by 44.6% month-over-month. Of the 80 sold homes, 48% were sold under asking, 25% were sold at asking, and 28% were sold over asking.
Days on Market for Orange County, VA
How long does it take to sell a home in Orange County, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 44 Days | +24.3% |
Summary: Homes in Orange County had an average of 44 days on market in Mar 2024, up by 24.3% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 81 homes were sold in Orange County; 53% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.