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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Albemarle County is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Albemarle County has remained a Seller's Market.

Key Takeaway

Albemarle County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Albemarle County, VA

How much do homes in Albemarle County, VA cost?

Median Sold Price

$550,000

$234/sqft

Based on all homes sold in April 2024.

The Median Sold Price hasn't changed since March 2024.

Key Takeaway

The sold price of homes in Albemarle County has remained the same since last month.

Summary: The median home sold price in Albemarle County was $550,000 in April 2024, the same as last month, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 -$330K
N/A
2 $265K$325K
+22.6%
3 $427.5K$453.1K
+6.0%
4 $724.9K$614.5K
-15.2%
5+ $879.2K$867.5K
-1.3%

Summary: Albemarle County housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 6%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes decreased by 1.3%.

Median Sold Price Compared To Nearby Counties

Albemarle County
0.0%
Buckingham County
-12.4%

Housing Supply in Albemarle County, VA

How many homes are available in Albemarle County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
419438+4.5%

Summary: The Albemarle County real estate market had 438 homes for sale in April 2024, a 4.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 58
+60.0%
2 2627
+3.8%
3 172184
+7.0%
4 157163
+3.8%
5+ 5956
-5.1%

Summary: The Albemarle County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 5.1%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
9398+5.4%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

47 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albemarle County, you could pay more than the asking price. 48% of homes here sold above asking price last month.

Summary: A total of 98 homes were sold or pending in Albemarle County in April 2024, up by 5.4% month-over-month. Of the 98 sold homes, 26% were sold under asking, 27% were sold at asking, and 48% were sold over asking.

Days on Market for Albemarle County, VA

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

Average Sale Time

Mar 2024Apr 2024CHANGE
44 Days28 Days-36.2%

Summary: Homes in Albemarle County had an average of 28 days on market in Apr 2024, down by 36.2% compared to last month.

Breakdown of Home Sale Times

80 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 98 homes were sold in Albemarle County; 82% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 10% 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 2 Days Ago

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