Is Westmoreland County, 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, Westmoreland County has remained a Buyer's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $244.9K | $230K | -6.1% |
2 Bedrooms | $235K | $255K | +8.5% |
3 Bedrooms | $279.9K | $299.9K | +7.1% |
4 Bedrooms | $378.6K | $390.3K | +3.1% |
5+ Bedrooms | $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 | $254.9K | $282.5K | +10.8% |
Saint Mary's County | $375.2K | $395.4K | +5.4% |
Westmoreland County | $290K | $305K | +5.2% |
King George County | $419.9K | $439.9K | +4.8% |
Housing Supply in Westmoreland County, VA
How many homes are available in Westmoreland County, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
320 | 358 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 37 | 48 | +29.7% |
3 Bedrooms | 209 | 223 | +6.7% |
4 Bedrooms | 58 | 67 | +15.5% |
5+ Bedrooms | 13 | 17 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 18 | -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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 62 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
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.