Is Gerrardstown, WV 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, Gerrardstown has remained a Buyer's Market.
Key Takeaway
Gerrardstown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Gerrardstown, WV
How much do homes in Gerrardstown, WV cost?
Median Sold Price
$325,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gerrardstown have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in Gerrardstown was $325,000 in March 2024, up 17.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205K | $229.8K | +12.1% |
| 3 Bedrooms | $276.5K | $280K | +1.3% |
| 4 Bedrooms | $425K | $405K | -4.7% |
| 5+ Bedrooms | - | $559K | N/A |
Summary: Gerrardstown 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 12.1%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Gerrardstown | $276.5K | $325K | +17.5% |
| Bunker Hill | $286K | $313K | +9.4% |
| Valley | $277.7K | $299.9K | +8.0% |
| Shenandoah | $286.6K | $305K | +6.4% |
| Inwood | $290K | $305K | +5.2% |
Housing Supply in Gerrardstown, WV
How many homes are available in Gerrardstown, WV?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 29 | +3.6% |
Summary: The Gerrardstown real estate market had 29 homes for sale in March 2024, a 3.6% 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 | 1 | 3 | +200.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Gerrardstown 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 200%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gerrardstown, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Gerrardstown in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Gerrardstown, WV
How long does it take to sell a home in Gerrardstown, WV?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 14 Days | -70.5% |
Summary: Homes in Gerrardstown had an average of 14 days on market in Mar 2024, down by 70.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gerrardstown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Gerrardstown; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
