Is West Point, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, West Point was a Buyer's Market.
Key Takeaway
West Point 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 West Point, VA
How much do homes in West Point, VA cost?
Median Sold Price
$310,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Point have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in West Point was $310,000 in March 2024, up 5.1% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205.5K | $225K | +9.5% |
| 3 Bedrooms | $266K | $298.5K | +12.2% |
| 4 Bedrooms | $375K | $362K | -3.5% |
| 5+ Bedrooms | $351K | $490K | +39.6% |
Summary: West Point housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 12.2%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 39.6%.
Median Sold Price Compared To Nearby Cities
| Shanghai | $231K | $320K | +38.5% |
| West Point | $295K | $310K | +5.1% |
Housing Supply in West Point, VA
How many homes are available in West Point, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 56 | +21.7% |
Summary: The West Point real estate market had 56 homes for sale in March 2024, a 21.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 31 | 38 | +22.6% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The West Point 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 150%, 3 bedroom homes increased by 22.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in West Point, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in West Point in March 2024, up by 125.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for West Point, VA
How long does it take to sell a home in West Point, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 3 Days | -92.4% |
Summary: Homes in West Point had an average of 3 days on market in Mar 2024, down by 92.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Point are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in West Point; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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