Is Russell 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, Russell County was a Seller's Market.
Key Takeaway
Russell County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Russell County, VA
How much do homes in Russell County, VA cost?
Median Sold Price
$177,500
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Russell County have sold for 18.3% more than they did a year ago.
Summary: The median home sold price in Russell County was $177,500 in May 2024, up 18.3% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $40.2K | $144.9K | +260.0% |
| 3 Bedrooms | $140K | $160K | +14.3% |
| 4 Bedrooms | $221K | $218K | -1.4% |
| 5+ Bedrooms | $137.4K | $146.7K | +6.7% |
Summary: Russell 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 260%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Counties
| Russell County | $150K | $177.5K | +18.3% |
| Washington County | $250K | $285K | +14.0% |
| Wise County | $130K | $145K | +11.5% |
Housing Supply in Russell County, VA
How many homes are available in Russell County, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 29 | +38.1% |
Summary: The Russell County real estate market had 29 homes for sale in May 2024, a 38.1% 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 | 6 | +20.0% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Russell 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 increased by 20%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Russell County, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Russell County in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Russell County, VA
How long does it take to sell a home in Russell County, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 125 Days | 84 Days | -32.9% |
Summary: Homes in Russell County had an average of 84 days on market in May 2024, down by 32.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Russell County has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Russell County; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
