Is Concord, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Concord is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Concord has remained a Seller's Market.

Key Takeaway

Concord is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$17,400(+6.5%)

Key Takeaway

Homes in Concord have sold for 6.5% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $371.5K-
N/A
2 $179.9K$210K
+16.7%
3 $274.9K$284.9K
+3.7%
4 $304.9K$349.9K
+14.8%
5+ $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%.

Median Sold Price Compared To Nearby Cities

Rustburg
+14.9%
Seneca
+11.7%
Lynchburg
+7.5%
Lynchburg
+6.6%
Concord
+6.5%

Housing Supply in Concord, VA

How many homes are available in Concord, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2046+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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 37
+133.3%
3 1028
+180.0%
4 69
+50.0%
5+ 12
+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 2024May 2024CHANGE
510+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Concord, you may be able to get a good deal. 40% of homes here sold below asking price last month.

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 2023May 2024CHANGE
48 Days30 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Concord, VA

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What housing markets are near Concord, VA?