Is Rapidan, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rapidan is a buyer's market

Buyer's
Market

Difference Since June 2023

At the same time last year, Rapidan was a Seller's Market.

Key Takeaway

Rapidan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Rapidan, VA

How much do homes in Rapidan, VA cost?

Median Sold Price

$399,000

$259/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$50,872(+14.6%)

Key Takeaway

Homes in Rapidan have sold for 14.6% more than they did a year ago.

Summary: The median home sold price in Rapidan was $399,000 in June 2024, up 14.6% from last year, and the median price per square foot was $259.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $149.2K$215K
+44.1%
2 $330K$215K
-34.8%
3 $365K$399K
+9.3%
4 $387K$493.5K
+27.5%
5+ --
N/A

Summary: Rapidan housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.1%, 2 bedroom homes decreased by 34.8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 27.5%, and 5+ bedroom homes did not change.

Housing Supply in Rapidan, VA

How many homes are available in Rapidan, VA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1925+31.6%

Summary: The Rapidan real estate market had 25 homes for sale in June 2024, a 31.6% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 11
0.0%
2 11
0.0%
3 810
+25.0%
4 68
+33.3%
5+ 35
+66.7%

Summary: The Rapidan housing inventory by bedroom type for June 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 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

May 2024Jun 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rapidan, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Rapidan in June 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Rapidan, VA

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

Average Sale Time

Jun 2023Jun 2024CHANGE
34 Days20 Days-41.2%

Summary: Homes in Rapidan had an average of 20 days on market in Jun 2024, down by 41.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 3 homes were sold in Rapidan; 67% of homes were sold within 30 days, 33% 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 18 Days Ago

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