Is Isle of Wight 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, Isle of Wight County has remained a Seller's Market.
Housing Prices in Isle of Wight County, VA
How much do homes in Isle of Wight County, VA cost?
Median Sold Price
$345,000
$231/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Isle of Wight County was $345,000 in May 2024, down 41.2% from last month, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | - | $235K | N/A |
4 Bedrooms | $587.1K | $455K | -22.5% |
5+ Bedrooms | - | - | N/A |
Summary: Isle of Wight County housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 22.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Counties
Surry County | $98K | $225K | +129.6% |
Isle of Wight County | $587.1K | $345K | -41.2% |
Housing Supply in Isle of Wight County, VA
How many homes are available in Isle of Wight County, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
284 | 325 | +14.4% |
Summary: The Isle of Wight County real estate market had 325 homes for sale in May 2024, a 14.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 25 | 26 | +4.0% |
3 Bedrooms | 122 | 136 | +11.5% |
4 Bedrooms | 96 | 112 | +16.7% |
5+ Bedrooms | 40 | 49 | +22.5% |
Summary: The Isle of Wight County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 22.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 56 | +12.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 56 homes were sold or pending in Isle of Wight County in May 2024, up by 12.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Isle of Wight County, VA
How long does it take to sell a home in Isle of Wight County, VA?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 Days | 29 Days | -12.1% |
Summary: Homes in Isle of Wight County had an average of 29 days on market in May 2024, down by 12.1% compared to last month.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 56 homes were sold in Isle of Wight County; 70% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.