Is Weems, 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, Weems has remained a Neutral Market.
Key Takeaway
Weems is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Weems, VA
How much do homes in Weems, VA cost?
Median Sold Price
$582,500
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Weems have sold for 29.4% more than they did a year ago.
Summary: The median home sold price in Weems was $582,500 in April 2024, up 29.4% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | - | N/A |
| 2 Bedrooms | $139K | $425K | +205.8% |
| 3 Bedrooms | $467.5K | $395K | -15.5% |
| 4 Bedrooms | $1.2M | $1.0M | -16.3% |
| 5+ Bedrooms | - | $2.6M | N/A |
Summary: Weems 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 increased by 205.8%, 3 bedroom homes decreased by 15.5%, 4 bedroom homes decreased by 16.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Weems | $450K | $582.5K | +29.4% |
| Lancaster | $442.7K | $485K | +9.5% |
| Kilmarnock | $405K | $419.5K | +3.6% |
| Irvington | $464K | $475K | +2.4% |
| Kilmarnock | $442.7K | $424K | -4.2% |
Housing Supply in Weems, VA
How many homes are available in Weems, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The Weems real estate market had 14 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Weems 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 25%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Weems, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Weems in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Weems, VA
How long does it take to sell a home in Weems, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 36 Days | +114.7% |
Summary: Homes in Weems had an average of 36 days on market in Apr 2024, up by 114.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Weems are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Weems; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved