Is Piankatank, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Piankatank is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Piankatank was a Seller's Market.

Key Takeaway

Piankatank is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Piankatank, VA

How much do homes in Piankatank, VA cost?

Median Sold Price

$312,500

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$22,500(-6.7%)

Key Takeaway

Homes in Piankatank have sold for 6.7% less than they did a year ago.

Summary: The median home sold price in Piankatank was $312,500 in March 2024, down 6.7% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$596.5K
N/A
2 $279.9K$304K
+8.6%
3 $335K$281K
-16.1%
4 $538K$492.5K
-8.5%
5+ --
N/A

Summary: Piankatank 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 8.6%, 3 bedroom homes decreased by 16.1%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Cobbs Creek
+8.2%
Westville
-4.8%
Piankatank
-6.7%

Housing Supply in Piankatank, VA

How many homes are available in Piankatank, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2628+7.7%

Summary: The Piankatank real estate market had 28 homes for sale in March 2024, a 7.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 04
+100.0%
3 2016
-20.0%
4 46
+50.0%
5+ 22
0.0%

Summary: The Piankatank 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 increased by 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
84-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Piankatank, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Piankatank in March 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Piankatank, VA

How long does it take to sell a home in Piankatank, VA?

Average Sale Time

Mar 2023Mar 2024CHANGE
8 Days28 Days+225.7%

Summary: Homes in Piankatank had an average of 28 days on market in Mar 2024, up by 225.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Piankatank are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 4 homes were sold in Piankatank; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

Newest Listings in Piankatank, VA

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