Is Providence Forge, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Providence Forge is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Providence Forge has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Providence Forge, VA

How much do homes in Providence Forge, VA cost?

Median Sold Price

$558,250

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$43,250(+8.4%)

Key Takeaway

Homes in Providence Forge have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in Providence Forge was $558,250 in March 2024, up 8.4% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $211K$375K
+77.7%
3 $335K$410K
+22.4%
4 $533.7K$596K
+11.7%
5+ $579.1K$610K
+5.3%

Summary: Providence Forge 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 77.7%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 5.3%.

Median Sold Price Compared To Nearby Cities

Charles City
+9.2%
Providence Forge
+8.4%
New Kent
+1.6%
Lanexa
0%

Housing Supply in Providence Forge, VA

How many homes are available in Providence Forge, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
7683+9.2%

Summary: The Providence Forge real estate market had 83 homes for sale in March 2024, a 9.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 33
0.0%
3 2027
+35.0%
4 2529
+16.0%
5+ 2824
-14.3%

Summary: The Providence Forge 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 35%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1116+45.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Providence Forge, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Providence Forge in March 2024, up by 45.5% month-over-month. Of the 13 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.

Days on Market for Providence Forge, VA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
32 Days52 Days+61.8%

Summary: Homes in Providence Forge had an average of 52 days on market in Mar 2024, up by 61.8% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 16 homes were sold in Providence Forge; 69% of homes were sold within 30 days, 19% 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 25 Days Ago

Newest Listings in Providence Forge, VA

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