Is Edinburg, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Edinburg was a Seller's Market.
Key Takeaway
Edinburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Edinburg, VA
How much do homes in Edinburg, VA cost?
Median Sold Price
$300,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Edinburg have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Edinburg was $300,000 in May 2024, up 1.4% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $144K | -33.0% |
| 2 Bedrooms | $185K | $170K | -8.1% |
| 3 Bedrooms | $285.5K | $323K | +13.1% |
| 4 Bedrooms | $327K | $350K | +7.0% |
| 5+ Bedrooms | - | $658.5K | N/A |
Summary: Edinburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33%, 2 bedroom homes decreased by 8.1%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 7%, and 5+ bedroom homes did not change.
Housing Supply in Edinburg, VA
How many homes are available in Edinburg, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Summary: The Edinburg real estate market had 25 homes for sale in May 2024, a 13.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Edinburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Edinburg, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Edinburg in May 2024, down by 57.1% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Edinburg, VA
How long does it take to sell a home in Edinburg, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 112 Days | +1407.7% |
Summary: Homes in Edinburg had an average of 112 days on market in May 2024, up by 1407.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Edinburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Edinburg; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
