Is Prince George, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Prince George is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Prince George has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Prince George, VA

How much do homes in Prince George, VA cost?

Median Sold Price

$325,000

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$15,100(+4.9%)

Key Takeaway

Homes in Prince George have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in Prince George was $325,000 in April 2024, up 4.9% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $249.9K$225K
-10.0%
3 $301K$300K
-0.3%
4 $325K$350K
+7.7%
5+ $342K$410K
+19.9%

Summary: Prince George housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 19.9%.

Median Sold Price Compared To Nearby Cities

Hopewell
+17.2%
Hopewell
+16.8%
Bland
+8.1%
Prince George
+4.9%

Housing Supply in Prince George, VA

How many homes are available in Prince George, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2629+11.5%

Summary: The Prince George real estate market had 29 homes for sale in April 2024, a 11.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1314
+7.7%
4 1113
+18.2%
5+ 11
0.0%

Summary: The Prince George housing inventory by bedroom type for April 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 7.7%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Prince George, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in Prince George in April 2024, down by 16.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.

Days on Market for Prince George, VA

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

Average Sale Time

Apr 2023Apr 2024CHANGE
64 Days9 Days-84.9%

Summary: Homes in Prince George had an average of 9 days on market in Apr 2024, down by 84.9% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 5 homes were sold in Prince George; 100% of homes were sold within 30 days, 0% 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 3 Days Ago

Newest Listings in Prince George, VA

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