Is Westmoreland County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westmoreland County is a buyer's market

Buyer's
Market

Difference Since March 2023

Since last year, Westmoreland County has remained a Buyer's Market.

Key Takeaway

Westmoreland County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Westmoreland County, VA

How much do homes in Westmoreland County, VA cost?

Median Sold Price

$305,000

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$15,000(+5.2%)

Key Takeaway

Homes in Westmoreland County have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in Westmoreland County was $305,000 in March 2024, up 5.2% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $244.9K$230K
-6.1%
2 $235K$255K
+8.5%
3 $279.9K$299.9K
+7.1%
4 $378.6K$390.3K
+3.1%
5+ $850K$450K
-47.1%

Summary: Westmoreland County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 47.1%.

Median Sold Price Compared To Nearby Counties

Essex County
+10.8%
Saint Mary's County
+5.4%
Westmoreland County
+5.2%
King George County
+4.8%

Housing Supply in Westmoreland County, VA

How many homes are available in Westmoreland County, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
320358+11.9%

Summary: The Westmoreland County real estate market had 358 homes for sale in March 2024, a 11.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 33
0.0%
2 3748
+29.7%
3 209223
+6.7%
4 5867
+15.5%
5+ 1317
+30.8%

Summary: The Westmoreland County 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 29.7%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 30.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2318-21.7%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westmoreland County, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Westmoreland County in March 2024, down by 21.7% month-over-month. Of the 18 sold homes, 44% were sold under asking, 39% were sold at asking, and 17% were sold over asking.

Days on Market for Westmoreland County, VA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
34 Days62 Days+78.9%

Summary: Homes in Westmoreland County had an average of 62 days on market in Mar 2024, up by 78.9% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 18 homes were sold in Westmoreland County; 50% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 22% 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 23 Days Ago

Newest Listings in Westmoreland County, VA

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