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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rivanna is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Rivanna, VA

How much do homes in Rivanna, VA cost?

Median Sold Price

$554,833

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$63,583(+12.9%)

Key Takeaway

Homes in Rivanna have sold for 12.9% more than they did a year ago.

Summary: The median home sold price in Rivanna was $554,833 in October 2024, up 12.9% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $242.5K$260K
+7.2%
2 $315.5K$288.5K
-8.6%
3 $407K$429.9K
+5.6%
4 $580.4K$622.2K
+7.2%
5+ $791.3K$899.6K
+13.7%

Summary: Rivanna housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 13.7%.

Median Sold Price Compared To Nearby Cities

Rivanna
+12.9%
Charlottesville
+8.6%
Charlottesville
+8.5%
Rio
-0.6%
Keswick
-7.3%

Housing Supply in Rivanna, VA

How many homes are available in Rivanna, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1001000.0%

Summary: The Rivanna real estate market had 100 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 42
-50.0%
2 65
-16.7%
3 4550
+11.1%
4 3835
-7.9%
5+ 78
+14.3%

Summary: The Rivanna housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2024+20.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rivanna, expect to pay close to the asking price. 43.5% of homes here sold near the asking price last month.

Summary: A total of 24 homes were sold or pending in Rivanna in October 2024, up by 20.0% month-over-month. Of the 23 sold homes, 30% were sold under asking, 43% were sold at asking, and 26% were sold over asking.

Days on Market for Rivanna, VA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days32 Days+83.7%

Summary: Homes in Rivanna had an average of 32 days on market in Oct 2024, up by 83.7% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 24 homes were sold in Rivanna; 63% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 4% 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 2 Days Ago

Newest Listings in Rivanna, VA

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