Is 23220, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 23220 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 23220 has remained a Seller's Market.

Key Takeaway

23220 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 23220, VA

How much do homes in 23220, VA cost?

Median Sold Price

$447,733

$296/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,733(+1.3%)

Key Takeaway

Homes in 23220 have sold for 1.3% more than they did a year ago.

Summary: The median home sold price in 23220 was $447,733 in October 2024, up 1.3% from last year, and the median price per square foot was $296.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $227.5K$235K
+3.3%
2 $336K$340K
+1.2%
3 $499K$479.5K
-3.9%
4 $795K$799.9K
+0.6%
5+ $1.2M$1.1M
-4.2%

Summary: 23220 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 4.2%.

Median Sold Price Compared To Nearby Zip Codes

23220
+1.3%
23219
-9.8%

Housing Supply in 23220, VA

How many homes are available in 23220, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
114116+1.8%

Summary: The 23220 real estate market had 116 homes for sale in October 2024, a 1.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 2633
+26.9%
3 5552
-5.5%
4 2524
-4.0%
5+ 44
0.0%

Summary: The 23220 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 26.9%, 3 bedroom homes decreased by 5.5%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2632+23.1%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 23220, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in 23220 in October 2024, up by 23.1% month-over-month. Of the 32 sold homes, 47% were sold under asking, 22% were sold at asking, and 31% were sold over asking.

Days on Market for 23220, VA

How long does it take to sell a home in 23220, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
10 Days24 Days+140.0%

Summary: Homes in 23220 had an average of 24 days on market in Oct 2024, up by 140% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 23220 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 32 homes were sold in 23220; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% 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 23220, VA

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