Is Westmoreland County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westmoreland County is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Westmoreland County was a Seller's Market.

Key Takeaway

Westmoreland County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Westmoreland County, VA

How much do homes in Westmoreland County, VA cost?

Median Sold Price

$310,000

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$20,000(+6.9%)

Key Takeaway

Homes in Westmoreland County have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in Westmoreland County was $310,000 in April 2024, up 6.9% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $227.4K$230K
+1.1%
2 $210K$255K
+21.4%
3 $278.5K$305K
+9.5%
4 $390K$391.1K
0.3%
5+ $935K$485.5K
-48.1%

Summary: Westmoreland County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 48.1%.

Median Sold Price Compared To Nearby Counties

Essex County
+13.7%
Westmoreland County
+6.9%
King George County
+5.0%
Saint Mary's County
+3.7%

Housing Supply in Westmoreland County, VA

How many homes are available in Westmoreland County, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
204234+14.7%

Summary: The Westmoreland County real estate market had 234 homes for sale in April 2024, a 14.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 23
+50.0%
2 3133
+6.5%
3 123151
+22.8%
4 3736
-2.7%
5+ 1111
0.0%

Summary: The Westmoreland County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 22.8%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2330+30.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westmoreland County, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 30 homes were sold or pending in Westmoreland County in April 2024, up by 30.4% month-over-month. Of the 30 sold homes, 37% were sold under asking, 40% were sold at asking, and 23% were sold over asking.

Days on Market for Westmoreland County, VA

How long does it take to sell a home in Westmoreland County, VA?

Average Sale Time

Apr 2023Apr 2024CHANGE
40 Days47 Days+16.2%

Summary: Homes in Westmoreland County had an average of 47 days on market in Apr 2024, up by 16.2% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 30 homes were sold in Westmoreland County; 60% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 23% 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 Westmoreland County, VA

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