Is Petersburg, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Petersburg was a Seller's Market.
Key Takeaway
Petersburg 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 Petersburg, WV
How much do homes in Petersburg, WV cost?
Median Sold Price
$240,000
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Petersburg have sold for 21% more than they did a year ago.
Summary: The median home sold price in Petersburg was $240,000 in April 2024, up 21% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $162.2K | $240K | +47.9% |
| 3 Bedrooms | $204K | $185K | -9.3% |
| 4 Bedrooms | $220K | $239K | +8.6% |
| 5+ Bedrooms | $194.4K | $292.5K | +50.4% |
Summary: Petersburg 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 47.9%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 50.4%.
Median Sold Price Compared To Nearby Cities
| Petersburg | $198.3K | $240K | +21.0% |
| Milroy | $220K | $195K | -11.4% |
Housing Supply in Petersburg, WV
How many homes are available in Petersburg, WV?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Summary: The Petersburg real estate market had 20 homes for sale in April 2024, a 11.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Petersburg 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 remained the same, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Petersburg, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Petersburg in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Petersburg, WV
How long does it take to sell a home in Petersburg, WV?
Breakdown of Home Sale Times
2 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 Petersburg are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Petersburg; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
