Is Powhatan County, 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, Powhatan County has remained a Seller's Market.
Housing Prices in Powhatan County, VA
How much do homes in Powhatan County, VA cost?
Median Sold Price
$442,250
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Powhatan County was $442,250 in May 2024, up 10.6% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $232.4K | +22.3% |
2 Bedrooms | $261K | $455K | +74.3% |
3 Bedrooms | $331K | $365K | +10.3% |
4 Bedrooms | $549.9K | $590K | +7.3% |
5+ Bedrooms | $670K | $700K | +4.5% |
Summary: Powhatan County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.3%, 2 bedroom homes increased by 74.3%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Counties
Powhatan County | $399.9K | $442.2K | +10.6% |
Henrico County | $379.7K | $415K | +9.3% |
Cumberland County | $271K | $293.7K | +8.4% |
Goochland County | $508K | $548.3K | +7.9% |
Amelia County | $296.2K | $310.7K | +4.9% |
Housing Supply in Powhatan County, VA
How many homes are available in Powhatan County, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
119 | 134 | +12.6% |
Summary: The Powhatan County real estate market had 134 homes for sale in May 2024, a 12.6% 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 | 5 | 4 | -20.0% |
3 Bedrooms | 49 | 60 | +22.4% |
4 Bedrooms | 41 | 49 | +19.5% |
5+ Bedrooms | 24 | 21 | -12.5% |
Summary: The Powhatan County 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 decreased by 20%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
37 | 27 | -27.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Powhatan County in May 2024, down by 27.0% month-over-month. Of the 27 sold homes, 30% were sold under asking, 19% were sold at asking, and 52% were sold over asking.
Days on Market for Powhatan County, VA
How long does it take to sell a home in Powhatan County, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 16 Days | -32.0% |
Summary: Homes in Powhatan County had an average of 16 days on market in May 2024, down by 32% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 27 homes were sold in Powhatan County; 74% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.