Is Washington, 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, Washington has remained a Buyer's Market.
Housing Prices in Washington, VA
How much do homes in Washington, VA cost?
Median Sold Price
$309,966
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Washington was $309,966 in March 2024, up 6.9% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $239.9K | $230K | -4.2% |
2 Bedrooms | $243.7K | $265K | +8.7% |
3 Bedrooms | $289.9K | $304.9K | +5.2% |
4 Bedrooms | $374.2K | $384.9K | +2.9% |
5+ Bedrooms | $1.3M | $475K | -63.7% |
Summary: Washington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 63.7%.
Median Sold Price Compared To Nearby Cities
Shiloh | $438K | $536K | +22.4% |
Washington | $290K | $309.9K | +6.9% |
Colonial Beach | $309K | $307.3K | -0.6% |
Housing Supply in Washington, VA
How many homes are available in Washington, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
214 | 232 | +8.4% |
Summary: The Washington real estate market had 232 homes for sale in March 2024, a 8.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 23 | 29 | +26.1% |
3 Bedrooms | 141 | 146 | +3.5% |
4 Bedrooms | 40 | 46 | +15.0% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Washington 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 increased by 26.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 14 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Washington in March 2024, the same as the previous month. Of the 14 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.
Days on Market for Washington, VA
How long does it take to sell a home in Washington, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 59 Days | +72.7% |
Summary: Homes in Washington had an average of 59 days on market in Mar 2024, up by 72.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in Washington; 50% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.