Is Dominion Valley, 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, Dominion Valley has remained a Seller's Market.
Key Takeaway
Dominion Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dominion Valley, VA
How much do homes in Dominion Valley, VA cost?
Median Sold Price
$792,500
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Dominion Valley have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Dominion Valley was $792,500 in April 2024, up 1.7% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $433K | $461K | +6.5% |
| 3 Bedrooms | $640K | $680K | +6.3% |
| 4 Bedrooms | $887.5K | $945K | +6.5% |
| 5+ Bedrooms | $1.0M | $1.0M | -7.0% |
Summary: Dominion Valley 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 6.5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 7%.
Housing Supply in Dominion Valley, VA
How many homes are available in Dominion Valley, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 42 | +27.3% |
Summary: The Dominion Valley real estate market had 42 homes for sale in April 2024, a 27.3% 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 | 6 | 9 | +50.0% |
| 4 Bedrooms | 14 | 19 | +35.7% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Dominion Valley 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 50%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dominion Valley, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Dominion Valley in April 2024, up by 60.0% month-over-month. Of the 16 sold homes, 25% were sold under asking, 19% were sold at asking, and 56% were sold over asking.
Days on Market for Dominion Valley, VA
How long does it take to sell a home in Dominion Valley, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 7 Days | -64.3% |
Summary: Homes in Dominion Valley had an average of 7 days on market in Apr 2024, down by 64.3% compared to last year.
Breakdown of Home Sale Times
15 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 Dominion Valley are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in Dominion Valley; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
