Is Russell County, 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, Russell County has remained a Seller's Market.
Key Takeaway
Russell County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Russell County, VA
How much do homes in Russell County, VA cost?
Median Sold Price
$175,000
$87/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Russell County have sold for 20.7% more than they did a year ago.
Summary: The median home sold price in Russell County was $175,000 in March 2024, up 20.7% from last year, and the median price per square foot was $87.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $34K | $34.9K | +2.9% |
| 3 Bedrooms | $140K | $152.4K | +8.9% |
| 4 Bedrooms | $205K | $256.5K | +25.1% |
| 5+ Bedrooms | $100K | $174.9K | +75.0% |
Summary: Russell County 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 2.9%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 25.1%, and 5+ bedroom homes increased by 75%.
Median Sold Price Compared To Nearby Counties
| Russell County | $145K | $175K | +20.7% |
| Washington County | $255.7K | $275.5K | +7.7% |
| Wise County | $139.1K | $134K | -3.7% |
Housing Supply in Russell County, VA
How many homes are available in Russell County, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Summary: The Russell County real estate market had 25 homes for sale in March 2024, a 8.7% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Russell County 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 100%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Russell County, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Russell County in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Russell County, VA
How long does it take to sell a home in Russell County, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 110 Days | 124 Days | +13.5% |
Summary: Homes in Russell County had an average of 124 days on market in Mar 2024, up by 13.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Russell County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 6 homes were sold in Russell County; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
