Is Prince Edward County, 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, Prince Edward County has remained a Seller's Market.
Key Takeaway
Prince Edward County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prince Edward County, VA
How much do homes in Prince Edward County, VA cost?
Median Sold Price
$280,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Prince Edward County have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Prince Edward County was $280,000 in April 2024, up 7.7% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $277.5K | N/A |
| 2 Bedrooms | $136.5K | $145K | +6.2% |
| 3 Bedrooms | $255K | $268K | +5.1% |
| 4 Bedrooms | $305K | $329.9K | +8.2% |
| 5+ Bedrooms | $350K | $675K | +92.9% |
Summary: Prince Edward County 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 6.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 92.9%.
Median Sold Price Compared To Nearby Counties
| Charlotte County | $173K | $408.8K | +136.3% |
| Lunenburg County | $194K | $220K | +13.4% |
| Cumberland County | $270K | $293.3K | +8.6% |
| Prince Edward County | $260K | $280K | +7.7% |
| Appomattox County | $260.9K | $279.9K | +7.3% |
Housing Supply in Prince Edward County, VA
How many homes are available in Prince Edward County, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 76 | +7.0% |
Summary: The Prince Edward County real estate market had 76 homes for sale in April 2024, a 7.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 43 | 43 | 0.0% |
| 4 Bedrooms | 18 | 23 | +27.8% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Prince Edward County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prince Edward County, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 15 homes were sold or pending in Prince Edward County in April 2024, the same as the previous month. Of the 15 sold homes, 13% were sold under asking, 67% were sold at asking, and 20% were sold over asking.
Days on Market for Prince Edward County, VA
How long does it take to sell a home in Prince Edward County, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 66 Days | +100.3% |
Summary: Homes in Prince Edward County had an average of 66 days on market in Apr 2024, up by 100.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Prince Edward County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in Prince Edward County; 53% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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