Is 23875, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 23875 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 23875 has remained a Seller's Market.

Key Takeaway

23875 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 23875, VA

How much do homes in 23875, VA cost?

Median Sold Price

$330,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,000(+1.5%)

Key Takeaway

Homes in 23875 have sold for 1.5% more than they did a year ago.

Summary: The median home sold price in 23875 was $330,000 in October 2024, up 1.5% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $237.4K$239.5K
+0.9%
3 $300K$312.5K
+4.2%
4 $341.8K$357.5K
+4.6%
5+ $405K$412K
+1.7%

Summary: 23875 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 0.9%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 1.7%.

Median Sold Price Compared To Nearby Zip Codes

23834
+15.2%
23842
+12.4%
23860
+5.0%
23875
+1.5%

Housing Supply in 23875, VA

How many homes are available in 23875, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3936-7.7%

Summary: The 23875 real estate market had 36 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 2116
-23.8%
4 1315
+15.4%
5+ 12
+100.0%

Summary: The 23875 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 23.8%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
10100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 23875, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in 23875 in October 2024, the same as the previous month. Of the 10 sold homes, 20% were sold under asking, 30% were sold at asking, and 50% were sold over asking.

Days on Market for 23875, VA

How long does it take to sell a home in 23875, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days31 Days+76.4%

Summary: Homes in 23875 had an average of 31 days on market in Oct 2024, up by 76.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 23875 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 10 homes were sold in 23875; 70% of homes were sold within 30 days, 20% 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 4 Days Ago

Newest Listings in 23875, VA

Nearby Markets to 23875, VA