Is 24202, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24202 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 24202 has remained a Seller's Market.

Key Takeaway

24202 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 24202, VA

How much do homes in 24202, VA cost?

Median Sold Price

$260,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$1,000(+0.4%)

Key Takeaway

The sold price of homes in 24202 has remained the same since last year.

Summary: The median home sold price in 24202 was $260,000 in October 2024, up 0.4% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$267.5K
N/A
2 $129.2K$158.5K
+22.7%
3 $237.5K$245K
+3.2%
4 $356K$335K
-5.9%
5+ $630K$520K
-17.5%

Summary: 24202 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 22.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 17.5%.

Median Sold Price Compared To Nearby Zip Codes

24202
0.4%
24210
0.2%
24201
0.0%

Housing Supply in 24202, VA

How many homes are available in 24202, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6171+16.4%

Summary: The 24202 real estate market had 71 homes for sale in October 2024, a 16.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 47
+75.0%
3 3340
+21.2%
4 1818
0.0%
5+ 55
0.0%

Summary: The 24202 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 increased by 75%, 3 bedroom homes increased by 21.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
414+250.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24202, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 24202 in October 2024, up by 250.0% month-over-month. Of the 14 sold homes, 50% were sold under asking, 7% were sold at asking, and 43% were sold over asking.

Days on Market for 24202, VA

How long does it take to sell a home in 24202, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
43 Days51 Days+18.8%

Summary: Homes in 24202 had an average of 51 days on market in Oct 2024, up by 18.8% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 24202 has remained consistent over time.

Summary: During October 2024, 14 homes were sold in 24202; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% 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 24202, VA

Nearby Markets to 24202, VA