Is South River, 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, South River has remained a Buyer's Market.
Key Takeaway
South River is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South River, VA
How much do homes in South River, VA cost?
Median Sold Price
$367,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in South River have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in South River was $367,000 in March 2024, up 12.9% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $398K | $260K | -34.7% |
| 2 Bedrooms | $229.9K | $228.5K | -0.6% |
| 3 Bedrooms | $354.9K | $357K | +0.6% |
| 4 Bedrooms | $367.4K | $467.5K | +27.2% |
| 5+ Bedrooms | $521K | $448K | -14.0% |
Summary: South River housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.7%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 27.2%, and 5+ bedroom homes decreased by 14%.
Median Sold Price Compared To Nearby Cities
| Front Royal | $300K | $364.2K | +21.4% |
| South River | $325K | $367K | +12.9% |
| Fork | $360K | $388.5K | +7.9% |
Housing Supply in South River, VA
How many homes are available in South River, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 52 | +13.0% |
Summary: The South River real estate market had 52 homes for sale in March 2024, a 13.0% 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 | 11 | 9 | -18.2% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 18 | 20 | +11.1% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The South River 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 decreased by 18.2%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 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 South River, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in South River in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for South River, VA
How long does it take to sell a home in South River, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 81 Days | +44.2% |
Summary: Homes in South River had an average of 81 days on market in Mar 2024, up by 44.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South River has remained consistent over time.
Summary: During March 2024, 2 homes were sold in South River; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.