Is 23231, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 23231 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 23231 was a Seller's Market.

Key Takeaway

23231 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 23231, VA

How much do homes in 23231, VA cost?

Median Sold Price

$330,416

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,621(+8.4%)

Key Takeaway

Homes in 23231 have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in 23231 was $330,416 in October 2024, up 8.4% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $270K$279K
+3.3%
2 $205K$238K
+16.1%
3 $287.1K$310K
+8.0%
4 $390K$383.3K
-1.7%
5+ $443.6K$465K
+4.8%

Summary: 23231 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 16.1%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 4.8%.

Median Sold Price Compared To Nearby Zip Codes

23231
+8.4%
23836
+8.0%
23075
+6.4%
23150
+3.9%

Housing Supply in 23231, VA

How many homes are available in 23231, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
158189+19.6%

Summary: The 23231 real estate market had 189 homes for sale in October 2024, a 19.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 3232
0.0%
3 5770
+22.8%
4 5673
+30.4%
5+ 911
+22.2%

Summary: The 23231 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 remained the same, 3 bedroom homes increased by 22.8%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
29290.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 23231, expect to pay close to the asking price. 46.4% of homes here sold near the asking price last month.

Summary: A total of 29 homes were sold or pending in 23231 in October 2024, the same as the previous month. Of the 28 sold homes, 21% were sold under asking, 46% were sold at asking, and 32% were sold over asking.

Days on Market for 23231, VA

How long does it take to sell a home in 23231, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days36 Days+43.4%

Summary: Homes in 23231 had an average of 36 days on market in Oct 2024, up by 43.4% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 23231 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 29 homes were sold in 23231; 62% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 10% 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 21 Days Ago

Newest Listings in 23231, VA

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