$4,689 Closing Credit*
$394,900
1,064 SqFt
4 Beds
•2 Full Baths
Letitia Smyth, Listing Office: Piedmont Fine Properties
Is 22701, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 22701 has remained a Seller's Market.
Key Takeaway
22701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 22701, VA
How much do homes in 22701, VA cost?
Median Sold Price
$455,937
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,937(+7.3%)
Key Takeaway
Homes in 22701 have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in 22701 was $455,937 in October 2024, up 7.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $434K | N/A |
| 2 Bedrooms | $269.4K | $278K | +3.2% |
| 3 Bedrooms | $380K | $400K | +5.3% |
| 4 Bedrooms | $469K | $500K | +6.6% |
| 5+ Bedrooms | $537.5K | $520K | -3.3% |
Summary: 22701 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 3.3%.
Housing Supply in 22701, VA
How many homes are available in 22701, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 172 | 166 | -3.5% |
Summary: The 22701 real estate market had 166 homes for sale in October 2024, a 3.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 15 | +36.4% |
| 3 Bedrooms | 83 | 70 | -15.7% |
| 4 Bedrooms | 60 | 64 | +6.7% |
| 5+ Bedrooms | 18 | 17 | -5.6% |
Summary: The 22701 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.4%, 3 bedroom homes decreased by 15.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 | 45 | -22.4% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 22701, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 45 homes were sold or pending in 22701 in October 2024, down by 22.4% month-over-month. Of the 45 sold homes, 36% were sold under asking, 24% were sold at asking, and 40% were sold over asking.
Days on Market for 22701, VA
How long does it take to sell a home in 22701, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 24 Days | +33.1% |
Summary: Homes in 22701 had an average of 24 days on market in Oct 2024, up by 33.1% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 22701 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 45 homes were sold in 22701; 73% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.