Is Albemarle County, 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, Albemarle County has remained a Seller's Market.
Housing Prices in Albemarle County, VA
How much do homes in Albemarle County, VA cost?
Median Sold Price
$513,750
$248/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Albemarle County was $513,750 in May 2024, down 3.5% from last month, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $330K | $127.5K | -61.4% |
2 Bedrooms | $317K | $255K | -19.6% |
3 Bedrooms | $472.3K | $458.5K | -2.9% |
4 Bedrooms | $614.5K | $629.9K | +2.5% |
5+ Bedrooms | $867.5K | $968.6K | +11.7% |
Summary: Albemarle County housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 61.4%, 2 bedroom homes decreased by 19.6%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Counties
Buckingham County | $315K | $313.7K | -0.4% |
Albemarle County | $532.2K | $513.7K | -3.5% |
Housing Supply in Albemarle County, VA
How many homes are available in Albemarle County, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
500 | 532 | +6.4% |
Summary: The Albemarle County real estate market had 532 homes for sale in May 2024, a 6.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 9 | -10.0% |
2 Bedrooms | 33 | 28 | -15.2% |
3 Bedrooms | 210 | 253 | +20.5% |
4 Bedrooms | 179 | 184 | +2.8% |
5+ Bedrooms | 68 | 58 | -14.7% |
Summary: The Albemarle County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes decreased by 15.2%, 3 bedroom homes increased by 20.5%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 14.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 144 | +41.2% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
59 Homes Were Sold
Over Asking
Summary: A total of 144 homes were sold or pending in Albemarle County in May 2024, up by 41.2% month-over-month. Of the 144 sold homes, 33% were sold under asking, 26% were sold at asking, and 41% were sold over asking.
Days on Market for Albemarle County, VA
How long does it take to sell a home in Albemarle County, VA?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 Days | 19 Days | -30.2% |
Summary: Homes in Albemarle County had an average of 19 days on market in May 2024, down by 30.2% compared to last month.
Breakdown of Home Sale Times
119 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 144 homes were sold in Albemarle County; 83% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.