$6,175 Closing Credit*
$520,000
2,340 SqFt
3 Beds
•3 Full Baths
CAROL DAVIS, Listing Office: LONG & FOSTER - CHARLOTTESVILLE
Is Patrick Henry, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Patrick Henry has remained a Seller's Market.
Key Takeaway
Patrick Henry is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Patrick Henry, VA
How much do homes in Patrick Henry, VA cost?
Median Sold Price
$348,250
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$11,400(+3.4%)
Key Takeaway
Homes in Patrick Henry have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Patrick Henry was $348,250 in August 2024, up 3.4% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215.4K | $185K | -14.1% |
| 3 Bedrooms | $309K | $339.5K | +9.9% |
| 4 Bedrooms | $360K | $410K | +13.9% |
| 5+ Bedrooms | $500K | $687.4K | +37.5% |
Summary: Patrick Henry housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.1%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 37.5%.
Median Sold Price Compared To Nearby Cities
| Louisa | $338K | $360K | +6.5% |
| Patrick Henry | $336.8K | $348.2K | +3.4% |
| Green Spring | $465.7K | $474.5K | +1.9% |
| Gordonsville | $454K | $440.7K | -2.9% |
Housing Supply in Patrick Henry, VA
How many homes are available in Patrick Henry, VA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 35 | 24 | -31.4% |
Summary: The Patrick Henry real estate market had 24 homes for sale in August 2024, a 31.4% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 22 | 16 | -27.3% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Patrick Henry housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 27.3%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 14 | 8 | -42.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Patrick Henry, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Patrick Henry in August 2024, down by 42.9% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Patrick Henry, VA
How long does it take to sell a home in Patrick Henry, VA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 4 Days | 24 Days | +405.2% |
Summary: Homes in Patrick Henry had an average of 24 days on market in Aug 2024, up by 405.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Patrick Henry are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 8 homes were sold in Patrick Henry; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% 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. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved