Is Westmoreland 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, Westmoreland County was a Seller's Market.
Housing Prices in Westmoreland County, VA
How much do homes in Westmoreland County, VA cost?
Median Sold Price
$312,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Westmoreland County was $312,000 in May 2024, up 7.6% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $227.4K | $230K | +1.1% |
2 Bedrooms | $250K | $242K | -3.2% |
3 Bedrooms | $278.7K | $309K | +10.9% |
4 Bedrooms | $385.7K | $398.1K | +3.2% |
5+ Bedrooms | $830K | $506K | -39.0% |
Summary: Westmoreland County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 39%.
Median Sold Price Compared To Nearby Counties
Essex County | $255K | $289K | +13.3% |
Westmoreland County | $290K | $312K | +7.6% |
Saint Mary's County | $385K | $399.5K | +3.8% |
King George County | $425K | $439.9K | +3.5% |
Richmond County | $265K | $260K | -1.9% |
Housing Supply in Westmoreland County, VA
How many homes are available in Westmoreland County, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
234 | 254 | +8.5% |
Summary: The Westmoreland County real estate market had 254 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 32 | 39 | +21.9% |
3 Bedrooms | 154 | 167 | +8.4% |
4 Bedrooms | 34 | 37 | +8.8% |
5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Westmoreland County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 21.9%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
34 | 29 | -14.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Westmoreland County in May 2024, down by 14.7% month-over-month. Of the 29 sold homes, 31% were sold under asking, 52% were sold at asking, and 17% were sold over asking.
Days on Market for Westmoreland County, VA
How long does it take to sell a home in Westmoreland County, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 44 Days | -5.2% |
Summary: Homes in Westmoreland County had an average of 44 days on market in May 2024, down by 5.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 29 homes were sold in Westmoreland County; 66% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.