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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spotsylvania is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Spotsylvania was a Seller's Market.

Key Takeaway

Spotsylvania is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Spotsylvania, VA

How much do homes in Spotsylvania, VA cost?

Median Sold Price

$470,253

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$45,253(+10.6%)

Key Takeaway

Homes in Spotsylvania have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Spotsylvania was $470,253 in February 2024, up 10.6% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $210K$250K
+19.0%
2 $279.9K$270K
-3.5%
3 $350K$385.4K
+10.1%
4 $493.5K$546.9K
+10.8%
5+ $702.5K$687.4K
-2.1%

Summary: Spotsylvania housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 2.1%.

Median Sold Price Compared To Nearby Cities

Livingston
+19.3%
Salem
+11.7%
Spotsylvania
+10.6%
Chancellor
+4.0%
Berkeley
+0.8%

Housing Supply in Spotsylvania, VA

How many homes are available in Spotsylvania, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
226231+2.2%

Summary: The Spotsylvania real estate market had 231 homes for sale in February 2024, a 2.2% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 63
-50.0%
3 7370
-4.1%
4 97103
+6.2%
5+ 5055
+10.0%

Summary: The Spotsylvania housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4423-47.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spotsylvania, you may be able to get a good deal. 39.1% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Spotsylvania in February 2024, down by 47.7% month-over-month. Of the 23 sold homes, 39% were sold under asking, 22% were sold at asking, and 39% were sold over asking.

Days on Market for Spotsylvania, VA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
22 Days16 Days-26.5%

Summary: Homes in Spotsylvania had an average of 16 days on market in Feb 2024, down by 26.5% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 23 homes were sold in Spotsylvania; 83% of homes were sold within 30 days, 17% 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 4 Days Ago

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