Is 22202, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 22202 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 22202 has remained a Seller's Market.

Key Takeaway

22202 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 22202, VA

How much do homes in 22202, VA cost?

Median Sold Price

$709,500

$479/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$34,500(+5.1%)

Key Takeaway

Homes in 22202 have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in 22202 was $709,500 in October 2024, up 5.1% from last year, and the median price per square foot was $479.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $359.5K$325K
-9.6%
2 $597.5K$639K
+6.9%
3 $876.2K$957.5K
+9.3%
4 $1.2M$1.1M
-2.1%
5+ $1.6M$1.8M
+16.0%

Summary: 22202 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.6%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 9.3%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 16%.

Median Sold Price Compared To Nearby Zip Codes

22204
+7.0%
22202
+5.1%
22206
+4.8%

Housing Supply in 22202, VA

How many homes are available in 22202, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4450+13.6%

Summary: The 22202 real estate market had 50 homes for sale in October 2024, a 13.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 79
+28.6%
2 1921
+10.5%
3 1111
0.0%
4 25
+150.0%
5+ 54
-20.0%

Summary: The 22202 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 10.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 150%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
811+37.5%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 22202, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 22202 in October 2024, up by 37.5% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.

Days on Market for 22202, VA

How long does it take to sell a home in 22202, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
34 Days22 Days-35.7%

Summary: Homes in 22202 had an average of 22 days on market in Oct 2024, down by 35.7% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 22202 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 11 homes were sold in 22202; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 22202, VA

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