Is Concord, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Concord has remained a Seller's Market.
Housing Prices in Concord, VA
How much do homes in Concord, VA cost?
Median Sold Price
$284,900
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Concord was $284,900 in May 2024, up 6.5% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $371.5K | - | N/A |
2 Bedrooms | $179.9K | $210K | +16.7% |
3 Bedrooms | $274.9K | $284.9K | +3.7% |
4 Bedrooms | $304.9K | $349.9K | +14.8% |
5+ Bedrooms | $397.5K | $424.9K | +6.9% |
Summary: Concord housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 6.9%.
Housing Supply in Concord, VA
How many homes are available in Concord, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 46 | +130.0% |
Summary: The Concord real estate market had 46 homes for sale in May 2024, a 130.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 7 | +133.3% |
3 Bedrooms | 10 | 28 | +180.0% |
4 Bedrooms | 6 | 9 | +50.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Concord housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 133.3%, 3 bedroom homes increased by 180%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 10 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Concord in May 2024, up by 100.0% month-over-month. Of the 10 sold homes, 40% were sold under asking, 30% were sold at asking, and 30% were sold over asking.
Days on Market for Concord, VA
How long does it take to sell a home in Concord, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
48 Days | 30 Days | -36.0% |
Summary: Homes in Concord had an average of 30 days on market in May 2024, down by 36% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Concord; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.