Is 23838, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 23838 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 23838 has remained a Seller's Market.

Key Takeaway

23838 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 23838, VA

How much do homes in 23838, VA cost?

Median Sold Price

$600,743

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$46,618(+8.4%)

Key Takeaway

Homes in 23838 have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in 23838 was $600,743 in October 2024, up 8.4% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $372.5K$402.4K
+8.0%
4 $550K$580K
+5.5%
5+ $686.9K$700K
+1.9%

Summary: 23838 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 did not change, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 1.9%.

Median Sold Price Compared To Nearby Zip Codes

23838
+8.4%
23832
+6.6%
23831
+6.0%
23112
+4.4%

Housing Supply in 23838, VA

How many homes are available in 23838, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9698+2.1%

Summary: The 23838 real estate market had 98 homes for sale in October 2024, a 2.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 00
0.0%
3 2223
+4.5%
4 4548
+6.7%
5+ 2927
-6.9%

Summary: The 23838 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 4.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 6.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
23230.0%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 23838, you may be able to get a good deal. 65.2% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in 23838 in October 2024, the same as the previous month. Of the 23 sold homes, 65% were sold under asking, 9% were sold at asking, and 26% were sold over asking.

Days on Market for 23838, VA

How long does it take to sell a home in 23838, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days115 Days+451.4%

Summary: Homes in 23838 had an average of 115 days on market in Oct 2024, up by 451.4% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 23838 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 23 homes were sold in 23838; 43% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 22% 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 23838, VA

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