$6,591 Closing Credit*
$555,000
2,268 SqFt
3 Beds
•2 Full Baths, 1 Partial
Lisa Fields, Listing Office: Virginia Capital Realty
Is 23116, 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, 23116 has remained a Seller's Market.
Key Takeaway
23116 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 23116, VA
How much do homes in 23116, VA cost?
Median Sold Price
$517,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,500(+8.7%)
Key Takeaway
Homes in 23116 have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in 23116 was $517,000 in October 2024, up 8.7% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $330K | $364.5K | +10.5% |
| 3 Bedrooms | $398.7K | $410K | +2.8% |
| 4 Bedrooms | $505K | $540K | +6.9% |
| 5+ Bedrooms | $603K | $630K | +4.5% |
Summary: 23116 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 10.5%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 4.5%.
Housing Supply in 23116, VA
How many homes are available in 23116, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 146 | 155 | +6.2% |
Summary: The 23116 real estate market had 155 homes for sale in October 2024, a 6.2% increase 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 53 | 56 | +5.7% |
| 4 Bedrooms | 67 | 74 | +10.4% |
| 5+ Bedrooms | 22 | 21 | -4.5% |
Summary: The 23116 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 5.7%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 4.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 46 | +64.3% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 23116, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 46 homes were sold or pending in 23116 in October 2024, up by 64.3% month-over-month. Of the 45 sold homes, 47% were sold under asking, 18% were sold at asking, and 36% were sold over asking.
Days on Market for 23116, VA
How long does it take to sell a home in 23116, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 54 Days | +29.5% |
Summary: Homes in 23116 had an average of 54 days on market in Oct 2024, up by 29.5% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 23116 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 46 homes were sold in 23116; 72% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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