Is James Monroe, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, James Monroe was a Seller's Market.
Key Takeaway
James Monroe is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in James Monroe, VA
How much do homes in James Monroe, VA cost?
Median Sold Price
$425,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in James Monroe have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in James Monroe was $425,000 in April 2024, up 6.3% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $229.4K | $243.5K | +6.1% |
| 3 Bedrooms | $355.5K | $347.5K | -2.3% |
| 4 Bedrooms | $440K | $475K | +8.0% |
| 5+ Bedrooms | $420K | $481.2K | +14.6% |
Summary: James Monroe 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 6.1%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 14.6%.
Median Sold Price Compared To Nearby Cities
| James Monroe | $400K | $425K | +6.3% |
| King George | $418.9K | $439.9K | +5.0% |
| Dahlgren | $372K | $385K | +3.5% |
| James Madison | $439K | $447.6K | +2.0% |
Housing Supply in James Monroe, VA
How many homes are available in James Monroe, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 | 41 | +32.3% |
Summary: The James Monroe real estate market had 41 homes for sale in April 2024, a 32.3% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 18 | 22 | +22.2% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The James Monroe 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 100%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in James Monroe, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in James Monroe in April 2024, down by 44.4% month-over-month. Of the 5 sold homes, 0% were sold under asking, 80% were sold at asking, and 20% were sold over asking.
Days on Market for James Monroe, VA
How long does it take to sell a home in James Monroe, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 9 Days | 59 Days | +522.9% |
Summary: Homes in James Monroe had an average of 59 days on market in Apr 2024, up by 522.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in James Monroe are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in James Monroe; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
