Is Rio, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Rio has remained a Seller's Market.
Key Takeaway
Rio is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rio, VA
How much do homes in Rio, VA cost?
Median Sold Price
$609,000
$226/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Rio have sold for 19.4% more than they did a month ago.
Summary: The median home sold price in Rio was $609,000 in April 2024, up 19.4% from last month, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $270K | $307.5K | +13.9% |
| 3 Bedrooms | $410K | $438.6K | +7.0% |
| 4 Bedrooms | $861.2K | $629.5K | -26.9% |
| 5+ Bedrooms | $699.9K | $848K | +21.2% |
Summary: Rio 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 increased by 13.9%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 26.9%, and 5+ bedroom homes increased by 21.2%.
Median Sold Price Compared To Nearby Cities
| Rio | $510K | $609K | +19.4% |
| Jack Jouett | $514.2K | $547.6K | +6.5% |
| Earlysville | $435.7K | $450K | +3.3% |
Housing Supply in Rio, VA
How many homes are available in Rio, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 95 | 90 | -5.3% |
Summary: The Rio real estate market had 90 homes for sale in April 2024, a 5.3% decrease 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 46 | 44 | -4.3% |
| 4 Bedrooms | 33 | 31 | -6.1% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Rio 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 remained the same, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 31 | +72.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rio, you could pay more than the asking price. 58.1% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Rio in April 2024, up by 72.2% month-over-month. Of the 31 sold homes, 19% were sold under asking, 23% were sold at asking, and 58% were sold over asking.
Days on Market for Rio, VA
How long does it take to sell a home in Rio, VA?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 17 Days | -32.9% |
Summary: Homes in Rio had an average of 17 days on market in Apr 2024, down by 32.9% compared to last month.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rio are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 31 homes were sold in Rio; 87% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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