Is 22947, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 22947 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 22947 was a Buyer's Market.

Key Takeaway

22947 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 22947, VA

How much do homes in 22947, VA cost?

Median Sold Price

$792,888

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$62,111(-7.3%)

Key Takeaway

Homes in 22947 have sold for 7.3% less than they did a year ago.

Summary: The median home sold price in 22947 was $792,888 in October 2024, down 7.3% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$330K
N/A
2 $316K$372.5K
+17.9%
3 $657.5K$644.4K
-2.0%
4 $952K$719.5K
-24.4%
5+ $1.1M$1.2M
+9.5%

Summary: 22947 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 17.9%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 24.4%, and 5+ bedroom homes increased by 9.5%.

Median Sold Price Compared To Nearby Zip Codes

22911
+14.3%
22923
+3.3%
22974
-5.4%
22942
-6.8%
22947
-7.3%

Housing Supply in 22947, VA

How many homes are available in 22947, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3237+15.6%

Summary: The 22947 real estate market had 37 homes for sale in October 2024, a 15.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 813
+62.5%
4 1516
+6.7%
5+ 87
-12.5%

Summary: The 22947 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 remained the same, 3 bedroom homes increased by 62.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
56+20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 22947, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in 22947 in October 2024, up by 20.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.

Days on Market for 22947, VA

How long does it take to sell a home in 22947, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
7 Days94 Days+1181.8%

Summary: Homes in 22947 had an average of 94 days on market in Oct 2024, up by 1181.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 22947 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 22947; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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 13 Days Ago

Newest Listings in 22947, VA

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