Is 23111, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 23111 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 23111 has remained a Seller's Market.

Key Takeaway

23111 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 23111, VA

How much do homes in 23111, VA cost?

Median Sold Price

$392,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$32,000(+8.9%)

Key Takeaway

Homes in 23111 have sold for 8.9% more than they did a year ago.

Summary: The median home sold price in 23111 was $392,000 in October 2024, up 8.9% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $355K$364.9K
+2.8%
3 $335K$350.4K
+4.6%
4 $395K$447.4K
+13.3%
5+ $505K$600K
+18.8%

Summary: 23111 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 2.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 18.8%.

Median Sold Price Compared To Nearby Zip Codes

23111
+8.9%
23116
+8.7%
23075
+6.4%
23150
+3.9%

Housing Supply in 23111, VA

How many homes are available in 23111, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
158157-0.6%

Summary: The 23111 real estate market had 157 homes for sale in October 2024, a 0.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 86
-25.0%
3 8175
-7.4%
4 4652
+13.0%
5+ 2324
+4.3%

Summary: The 23111 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 decreased by 25%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 4.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5048-4.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 23111, you may be able to get a good deal. 35.4% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in 23111 in October 2024, down by 4.0% month-over-month. Of the 48 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% were sold over asking.

Days on Market for 23111, VA

How long does it take to sell a home in 23111, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
11 Days21 Days+90.0%

Summary: Homes in 23111 had an average of 21 days on market in Oct 2024, up by 90% compared to last year.

Breakdown of Home Sale Times

40 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 23111 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 48 homes were sold in 23111; 83% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 2% 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 23111, VA

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