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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rustburg is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Rustburg, VA

How much do homes in Rustburg, VA cost?

Median Sold Price

$323,000

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$37,000(+12.9%)

Key Takeaway

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

Summary: The median home sold price in Rustburg was $323,000 in September 2024, up 12.9% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $152.9K$199.5K
+30.4%
3 $281.5K$305K
+8.3%
4 $374.9K$404.9K
+8.0%
5+ $555K$685K
+23.4%

Summary: Rustburg housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.4%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 23.4%.

Median Sold Price Compared To Nearby Cities

Rustburg
+12.9%
Lynchburg
+9.6%
Seneca
+0.8%
Concord
-3.5%
Gladys
-18.3%

Housing Supply in Rustburg, VA

How many homes are available in Rustburg, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4539-13.3%

Summary: The Rustburg real estate market had 39 homes for sale in September 2024, a 13.3% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 00
0.0%
3 3627
-25.0%
4 79
+28.6%
5+ 23
+50.0%

Summary: The Rustburg housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
69+50.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rustburg, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Rustburg in September 2024, up by 50.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.

Days on Market for Rustburg, VA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
13 Days22 Days+63.4%

Summary: Homes in Rustburg had an average of 22 days on market in Sep 2024, up by 63.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 9 homes were sold in Rustburg; 78% of homes were sold within 30 days, 22% 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 15 Days Ago

Newest Listings in Rustburg, VA

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