Is South Riding, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South Riding has remained a Seller's Market.
Key Takeaway
South Riding is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Riding, VA
How much do homes in South Riding, VA cost?
Median Sold Price
$700,428
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Riding have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in South Riding was $700,428 in April 2024, up 7.5% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $400K | $410K | +2.5% |
| 3 Bedrooms | $585K | $625K | +6.8% |
| 4 Bedrooms | $830K | $850.4K | +2.5% |
| 5+ Bedrooms | $937.5K | $1.0M | +14.7% |
Summary: South Riding housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 14.7%.
Housing Supply in South Riding, VA
How many homes are available in South Riding, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 55 | 79 | +43.6% |
Summary: The South Riding real estate market had 79 homes for sale in April 2024, a 43.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 24 | 34 | +41.7% |
| 4 Bedrooms | 24 | 28 | +16.7% |
| 5+ Bedrooms | 7 | 15 | +114.3% |
Summary: The South Riding housing inventory by bedroom type for April 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 41.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 114.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 24 | +14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Riding, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in South Riding in April 2024, up by 14.3% month-over-month. Of the 24 sold homes, 4% were sold under asking, 8% were sold at asking, and 88% were sold over asking.
Days on Market for South Riding, VA
How long does it take to sell a home in South Riding, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 5 Days | 4 Days | -6.8% |
Summary: Homes in South Riding had an average of 4 days on market in Apr 2024, down by 6.8% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Riding are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 24 homes were sold in South Riding; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
