Is Powhatan County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Powhatan County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Powhatan County has remained a Seller's Market.

Key Takeaway

Powhatan County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Powhatan County, VA

How much do homes in Powhatan County, VA cost?

Median Sold Price

$425,750

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$28,193(+7.1%)

Key Takeaway

Homes in Powhatan County have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Powhatan County was $425,750 in March 2024, up 7.1% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $150K$245K
+63.3%
2 $255K$385K
+51.0%
3 $335K$360K
+7.5%
4 $549.9K$564.9K
+2.7%
5+ $659.1K$700K
+6.2%

Summary: Powhatan County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 63.3%, 2 bedroom homes increased by 51%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Counties

Cumberland County
+7.4%
Powhatan County
+7.1%
Henrico County
+6.8%
Goochland County
+3.3%
Amelia County
+3.3%

Housing Supply in Powhatan County, VA

How many homes are available in Powhatan County, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
85100+17.6%

Summary: The Powhatan County real estate market had 100 homes for sale in March 2024, a 17.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 55
0.0%
3 2735
+29.6%
4 3540
+14.3%
5+ 1820
+11.1%

Summary: The Powhatan 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 remained the same, 3 bedroom homes increased by 29.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2023+15.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Powhatan County, you may be able to get a good deal. 39.1% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Powhatan County in March 2024, up by 15.0% month-over-month. Of the 23 sold homes, 39% were sold under asking, 35% were sold at asking, and 26% were sold over asking.

Days on Market for Powhatan County, VA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
42 Days31 Days-25.5%

Summary: Homes in Powhatan County had an average of 31 days on market in Mar 2024, down by 25.5% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 23 homes were sold in Powhatan County; 74% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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 15 Days Ago

Newest Listings in Powhatan County, VA

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