Is Wakefield, 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, Wakefield has remained a Seller's Market.
Housing Prices in Wakefield, VA
How much do homes in Wakefield, VA cost?
Median Sold Price
$852,500
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Wakefield was $852,500 in April 2024, up 6.6% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $765K | N/A |
3 Bedrooms | $555K | $664.5K | +19.7% |
4 Bedrooms | $795K | $812.5K | +2.2% |
5+ Bedrooms | $857.5K | $924.2K | +7.8% |
Summary: Wakefield 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 did not change, 3 bedroom homes increased by 19.7%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 7.8%.
Housing Supply in Wakefield, VA
How many homes are available in Wakefield, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 27 | +22.7% |
Summary: The Wakefield real estate market had 27 homes for sale in April 2024, a 22.7% 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 | 1 | 0 | -100.0% |
3 Bedrooms | 0 | 1 | +100.0% |
4 Bedrooms | 9 | 17 | +88.9% |
5+ Bedrooms | 12 | 9 | -25.0% |
Summary: The Wakefield 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 decreased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 88.9%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 12 | +71.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Wakefield in April 2024, up by 71.4% month-over-month. Of the 12 sold homes, 8% were sold under asking, 25% were sold at asking, and 67% were sold over asking.
Days on Market for Wakefield, VA
How long does it take to sell a home in Wakefield, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
8 Days | 17 Days | +115.9% |
Summary: Homes in Wakefield had an average of 17 days on market in Apr 2024, up by 115.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Wakefield; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.