Is Prospect, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Prospect has remained a Seller's Market.
Key Takeaway
Prospect is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prospect, VA
How much do homes in Prospect, VA cost?
Median Sold Price
$265,000
$180/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Prospect have sold for 25.4% less than they did a month ago.
Summary: The median home sold price in Prospect was $265,000 in March 2024, down 25.4% from last month, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $99.9K | - | N/A |
| 3 Bedrooms | $355K | $265K | -25.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Prospect housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 25.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Prospect, VA
How many homes are available in Prospect, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Summary: The Prospect real estate market had 3 homes for sale in March 2024, a 25.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Prospect 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 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prospect, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Prospect in March 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Prospect, VA
How long does it take to sell a home in Prospect, VA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 23 Days | -21.6% |
Summary: Homes in Prospect had an average of 23 days on market in Mar 2024, down by 21.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Prospect are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Prospect; 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.
