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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sunburst is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Sunburst, VA

How much do homes in Sunburst, VA cost?

Median Sold Price

$311,000

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$22,050(+7.6%)

Key Takeaway

Homes in Sunburst have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Sunburst was $311,000 in September 2024, up 7.6% from last year, and the median price per square foot was $161.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $186.5K$216.2K
+15.9%
3 $279.4K$269.9K
-3.4%
4 $360.3K$385K
+6.9%
5+ $389K$355K
-8.7%

Summary: Sunburst 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 15.9%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes decreased by 8.7%.

Median Sold Price Compared To Nearby Cities

Timberlake
+11.7%
Sunburst
+7.6%
Evington
+2.3%
Seneca
+0.8%
Forest
-1.6%

Housing Supply in Sunburst, VA

How many homes are available in Sunburst, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5449-9.3%

Summary: The Sunburst real estate market had 49 homes for sale in September 2024, a 9.3% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 2526
+4.0%
4 1812
-33.3%
5+ 54
-20.0%

Summary: The Sunburst 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 increased by 16.7%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1512-20.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sunburst, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Sunburst in September 2024, down by 20.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.

Days on Market for Sunburst, VA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
29 Days88 Days+200.9%

Summary: Homes in Sunburst had an average of 88 days on market in Sep 2024, up by 200.9% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 12 homes were sold in Sunburst; 58% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% 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 Sunburst, VA

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