Is Red Bud, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Red Bud was a Seller's Market.
Key Takeaway
Red Bud is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Red Bud, VA
How much do homes in Red Bud, VA cost?
Median Sold Price
$375,512
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Red Bud have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Red Bud was $375,512 in March 2024, up 6.2% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $221K | $235.5K | +6.6% |
| 3 Bedrooms | $350K | $337.5K | -3.6% |
| 4 Bedrooms | $397.5K | $406K | +2.1% |
| 5+ Bedrooms | $599.5K | $544.9K | -9.1% |
Summary: Red Bud 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 6.6%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 9.1%.
Median Sold Price Compared To Nearby Cities
| Stephenson | $390.3K | $465.4K | +19.2% |
| Stonewall | $358K | $415.2K | +16.0% |
| Winchester | $333.5K | $367.2K | +10.1% |
| Red Bud | $353.5K | $375.5K | +6.2% |
| Shawnee | $385K | $386.9K | 0.5% |
Housing Supply in Red Bud, VA
How many homes are available in Red Bud, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 76 | 90 | +18.4% |
Summary: The Red Bud real estate market had 90 homes for sale in March 2024, a 18.4% increase 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 | 12 | 12 | 0.0% |
| 3 Bedrooms | 26 | 29 | +11.5% |
| 4 Bedrooms | 28 | 35 | +25.0% |
| 5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Red Bud 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 11.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 14 | +55.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Red Bud, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Red Bud in March 2024, up by 55.6% month-over-month. Of the 14 sold homes, 43% were sold under asking, 21% were sold at asking, and 36% were sold over asking.
Days on Market for Red Bud, VA
How long does it take to sell a home in Red Bud, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 43 Days | +99.2% |
Summary: Homes in Red Bud had an average of 43 days on market in Mar 2024, up by 99.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Red Bud are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Red Bud; 79% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
