Is Prince Edward County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Prince Edward County was a Seller's Market.
Key Takeaway
Prince Edward County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Prince Edward County, VA
How much do homes in Prince Edward County, VA cost?
Median Sold Price
$284,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Prince Edward County have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Prince Edward County was $284,000 in May 2024, up 13.6% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $277.5K | N/A |
| 2 Bedrooms | $135.7K | $150K | +10.5% |
| 3 Bedrooms | $254K | $275K | +8.3% |
| 4 Bedrooms | $285K | $329.9K | +15.8% |
| 5+ Bedrooms | $350K | $492K | +40.6% |
Summary: Prince Edward County 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 10.5%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 40.6%.
Median Sold Price Compared To Nearby Counties
| Charlotte County | $187.2K | $374K | +99.7% |
| Prince Edward County | $250K | $284K | +13.6% |
| Cumberland County | $271K | $293.7K | +8.4% |
| Appomattox County | $270K | $279.9K | +3.7% |
Housing Supply in Prince Edward County, VA
How many homes are available in Prince Edward County, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 76 | 79 | +3.9% |
Summary: The Prince Edward County real estate market had 79 homes for sale in May 2024, a 3.9% 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 | 2 | -33.3% |
| 3 Bedrooms | 43 | 49 | +14.0% |
| 4 Bedrooms | 22 | 19 | -13.6% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Prince Edward 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 33.3%, 3 bedroom homes increased by 14%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prince Edward County, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Prince Edward County in May 2024, down by 18.8% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Prince Edward County, VA
How long does it take to sell a home in Prince Edward County, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 37 Days | +14.7% |
Summary: Homes in Prince Edward County had an average of 37 days on market in May 2024, up by 14.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Prince Edward County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Prince Edward County; 46% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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