Is Isle of Wight County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Isle of Wight County is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Isle of Wight County was a Buyer's Market.

Key Takeaway

Isle of Wight County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Isle of Wight County, VA

How much do homes in Isle of Wight County, VA cost?

Median Sold Price

$587,130

$209/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

+$27,130(+4.8%)

Key Takeaway

Homes in Isle of Wight County have sold for 4.8% more than they did a month ago.

Summary: The median home sold price in Isle of Wight County was $587,130 in April 2024, up 4.8% from last month, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 --
N/A
3 --
N/A
4 $560K$587.1K
+4.8%
5+ --
N/A

Summary: Isle of Wight County housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Counties

Isle of Wight County
+4.8%
Surry County
-62.3%

Housing Supply in Isle of Wight County, VA

How many homes are available in Isle of Wight County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
262292+11.5%

Summary: The Isle of Wight County real estate market had 292 homes for sale in April 2024, a 11.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 31
-66.7%
2 2125
+19.0%
3 116123
+6.0%
4 89101
+13.5%
5+ 3342
+27.3%

Summary: The Isle of Wight County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3048+60.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Isle of Wight County, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 48 homes were sold or pending in Isle of Wight County in April 2024, up by 60.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Isle of Wight County, VA

How long does it take to sell a home in Isle of Wight County, VA?

Average Sale Time

Mar 2024Apr 2024CHANGE
55 Days34 Days-38.9%

Summary: Homes in Isle of Wight County had an average of 34 days on market in Apr 2024, down by 38.9% compared to last month.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Isle of Wight County are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 48 homes were sold in Isle of Wight County; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Isle of Wight County, VA

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