Is Cumberland County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cumberland County has remained a Seller's Market.
Housing Prices in Cumberland County, VA
How much do homes in Cumberland County, VA cost?
Median Sold Price
$293,350
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cumberland County was $293,350 in April 2024, up 8.6% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | - | N/A |
2 Bedrooms | $130.5K | $175K | +34.1% |
3 Bedrooms | $274.7K | $294.2K | +7.1% |
4 Bedrooms | $335K | $335K | 0.0% |
5+ Bedrooms | $479.5K | $319.5K | -33.4% |
Summary: Cumberland County 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 34.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 33.4%.
Median Sold Price Compared To Nearby Counties
Powhatan County | $399.2K | $438K | +9.7% |
Cumberland County | $270K | $293.3K | +8.6% |
Prince Edward County | $260K | $280K | +7.7% |
Fluvanna County | $349.9K | $358.8K | +2.5% |
Housing Supply in Cumberland County, VA
How many homes are available in Cumberland County, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 37 | +12.1% |
Summary: The Cumberland County real estate market had 37 homes for sale in April 2024, a 12.1% 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 | 6 | 8 | +33.3% |
3 Bedrooms | 22 | 24 | +9.1% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Cumberland County 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 increased by 33.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Cumberland County in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Cumberland County, VA
How long does it take to sell a home in Cumberland County, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
46 Days | 46 Days | -1.0% |
Summary: Homes in Cumberland County had an average of 46 days on market in Apr 2024, down by 1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Cumberland County; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.