Is Prince Edward County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Prince Edward County has remained a Seller's Market.
Key Takeaway
Prince Edward County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prince Edward County, VA
How much do homes in Prince Edward County, VA cost?
Median Sold Price
$277,500
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Prince Edward County have sold for 11% more than they did a year ago.
Summary: The median home sold price in Prince Edward County was $277,500 in March 2024, up 11% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $277.5K | N/A |
| 2 Bedrooms | $136.5K | $137K | 0.4% |
| 3 Bedrooms | $250K | $267.9K | +7.2% |
| 4 Bedrooms | $305K | $329.9K | +8.2% |
| 5+ Bedrooms | $349.9K | $583.5K | +66.8% |
Summary: Prince Edward 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 0.4%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 66.8%.
Median Sold Price Compared To Nearby Counties
| Prince Edward County | $250K | $277.5K | +11.0% |
| Cumberland County | $270K | $290K | +7.4% |
| Appomattox County | $265K | $275K | +3.8% |
| Lunenburg County | $240K | $189.5K | -21.0% |
Housing Supply in Prince Edward County, VA
How many homes are available in Prince Edward County, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 74 | +7.2% |
Summary: The Prince Edward County real estate market had 74 homes for sale in March 2024, a 7.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 42 | 45 | +7.1% |
| 4 Bedrooms | 13 | 19 | +46.2% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The Prince Edward 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 33.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prince Edward County, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Prince Edward County in March 2024, down by 7.1% month-over-month. Of the 13 sold homes, 77% were sold under asking, 8% were sold at asking, and 15% were sold over asking.
Days on Market for Prince Edward County, VA
How long does it take to sell a home in Prince Edward County, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 53 Days | 41 Days | -22.1% |
Summary: Homes in Prince Edward County had an average of 41 days on market in Mar 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Prince Edward County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 13 homes were sold in Prince Edward County; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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