Is Reedville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Reedville has remained a Buyer's Market.
Key Takeaway
Reedville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Reedville, VA
How much do homes in Reedville, VA cost?
Median Sold Price
$535,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Reedville have sold for 27.4% more than they did a year ago.
Summary: The median home sold price in Reedville was $535,000 in March 2024, up 27.4% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $35K | $205K | +485.7% |
| 2 Bedrooms | $237.2K | $300K | +26.4% |
| 3 Bedrooms | $507K | $550K | +8.5% |
| 4 Bedrooms | $343K | $550K | +60.3% |
| 5+ Bedrooms | $660K | $697.5K | +5.7% |
Summary: Reedville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 485.7%, 2 bedroom homes increased by 26.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 60.3%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Reedville | $420K | $535K | +27.4% |
| Heathsville | $417.5K | $460K | +10.2% |
Housing Supply in Reedville, VA
How many homes are available in Reedville, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 47 | +23.7% |
Summary: The Reedville real estate market had 47 homes for sale in March 2024, a 23.7% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 24 | 30 | +25.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Reedville 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 increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reedville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Reedville in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Reedville, VA
How long does it take to sell a home in Reedville, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 160 Days | +204.8% |
Summary: Homes in Reedville had an average of 160 days on market in Mar 2024, up by 204.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Reedville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Reedville; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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