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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Scott is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Scott, VA

How much do homes in Scott, VA cost?

Median Sold Price

$775,749

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$65,749(+9.3%)

Key Takeaway

Homes in Scott have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in Scott was $775,749 in September 2024, up 9.3% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$800K
N/A
2 $497.5K$458.6K
-7.8%
3 $560K$599K
+7.0%
4 $726K$790K
+8.8%
5+ $849K$927.5K
+9.2%

Summary: Scott 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 decreased by 7.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Cities

Scott
+9.3%
Center
+5.7%
Marshall
+1.1%
Broad Run
-0.9%

Housing Supply in Scott, VA

How many homes are available in Scott, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7471-4.1%

Summary: The Scott real estate market had 71 homes for sale in September 2024, a 4.1% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 10
-100.0%
2 23
+50.0%
3 2323
0.0%
4 2624
-7.7%
5+ 2221
-4.5%

Summary: The Scott housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 4.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2519-24.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Scott, you could pay more than the asking price. 73.7% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Scott in September 2024, down by 24.0% month-over-month. Of the 19 sold homes, 21% were sold under asking, 5% were sold at asking, and 74% were sold over asking.

Days on Market for Scott, VA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
24 Days51 Days+106.9%

Summary: Homes in Scott had an average of 51 days on market in Sep 2024, up by 106.9% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 19 homes were sold in Scott; 89% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% 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 Sep 1, 2024

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