Is Gainesville, 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, Gainesville has remained a Seller's Market.
Key Takeaway
Gainesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gainesville, VA
How much do homes in Gainesville, VA cost?
Median Sold Price
$600,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Gainesville have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Gainesville was $600,000 in April 2024, up 8.2% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $192.5K | $230K | +19.5% |
| 2 Bedrooms | $370.1K | $379K | +2.4% |
| 3 Bedrooms | $474.3K | $501K | +5.6% |
| 4 Bedrooms | $669.2K | $750K | +12.1% |
| 5+ Bedrooms | $894.5K | $922.5K | +3.1% |
Summary: Gainesville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 3.1%.
Median Sold Price Compared To Nearby Cities
| Chantilly | $657.8K | $750K | +14.0% |
| Haymarket | $653.6K | $731K | +11.8% |
| Broad Run | $643.1K | $710.5K | +10.5% |
| Gainesville | $554.7K | $600K | +8.2% |
Housing Supply in Gainesville, VA
How many homes are available in Gainesville, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 225 | 302 | +34.2% |
Summary: The Gainesville real estate market had 302 homes for sale in April 2024, a 34.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 23 | 38 | +65.2% |
| 3 Bedrooms | 85 | 105 | +23.5% |
| 4 Bedrooms | 71 | 111 | +56.3% |
| 5+ Bedrooms | 45 | 45 | 0.0% |
Summary: The Gainesville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 65.2%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 56.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 75 | 100 | +33.3% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
66 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gainesville, you could pay more than the asking price. 66% of homes here sold above asking price last month.
Summary: A total of 100 homes were sold or pending in Gainesville in April 2024, up by 33.3% month-over-month. Of the 100 sold homes, 15% were sold under asking, 19% were sold at asking, and 66% were sold over asking.
Days on Market for Gainesville, VA
How long does it take to sell a home in Gainesville, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 16 Days | 9 Days | -45.6% |
Summary: Homes in Gainesville had an average of 9 days on market in Apr 2024, down by 45.6% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Gainesville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 100 homes were sold in Gainesville; 93% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
