Is Dranesville, 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, Dranesville has remained a Seller's Market.
Key Takeaway
Dranesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dranesville, VA
How much do homes in Dranesville, VA cost?
Median Sold Price
$1,249,722
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Dranesville have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Dranesville was $1,249,722 in April 2024, up 9.8% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $285K | +7.5% |
| 2 Bedrooms | $382K | $350K | -8.4% |
| 3 Bedrooms | $650K | $700K | +7.7% |
| 4 Bedrooms | $1.0M | $1.1M | +2.3% |
| 5+ Bedrooms | $1.8M | $1.8M | +5.0% |
Summary: Dranesville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes decreased by 8.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
| Dranesville | $1.1M | $1.2M | +9.8% |
| Hunter Mill | $657.6K | $702.7K | +6.9% |
| Sugarland Run | $600.5K | $628.7K | +4.7% |
| Mc Lean | $1.2M | $1.2M | +2.4% |
| Providence | $625.7K | $629.6K | +0.6% |
Housing Supply in Dranesville, VA
How many homes are available in Dranesville, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 381 | 475 | +24.7% |
Summary: The Dranesville real estate market had 475 homes for sale in April 2024, a 24.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 8 | +60.0% |
| 2 Bedrooms | 17 | 19 | +11.8% |
| 3 Bedrooms | 50 | 54 | +8.0% |
| 4 Bedrooms | 77 | 93 | +20.8% |
| 5+ Bedrooms | 232 | 301 | +29.7% |
Summary: The Dranesville 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 11.8%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 29.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 94 | 112 | +19.1% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dranesville, you could pay more than the asking price. 47.3% of homes here sold above asking price last month.
Summary: A total of 112 homes were sold or pending in Dranesville in April 2024, up by 19.1% month-over-month. Of the 112 sold homes, 32% were sold under asking, 21% were sold at asking, and 47% were sold over asking.
Days on Market for Dranesville, VA
How long does it take to sell a home in Dranesville, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 20 Days | +16.5% |
Summary: Homes in Dranesville had an average of 20 days on market in Apr 2024, up by 16.5% compared to last year.
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dranesville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 112 homes were sold in Dranesville; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
