Is 24224, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24224 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 24224 was a Seller's Market.

Key Takeaway

24224 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 24224, VA

How much do homes in 24224, VA cost?

Median Sold Price

$137,000

$102/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$66,500(-32.7%)

Key Takeaway

Homes in 24224 have sold for 32.7% less than they did a year ago.

Summary: The median home sold price in 24224 was $137,000 in October 2024, down 32.7% from last year, and the median price per square foot was $102.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $89.9K$154K
+71.2%
3 $207K$119.7K
-42.1%
4 $252.5K$187.5K
-25.7%
5+ $220K-
N/A

Summary: 24224 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 71.2%, 3 bedroom homes decreased by 42.1%, 4 bedroom homes decreased by 25.7%, and 5+ bedroom homes did not change.

Housing Supply in 24224, VA

How many homes are available in 24224, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1113+18.2%

Summary: The 24224 real estate market had 13 homes for sale in October 2024, a 18.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 910
+11.1%
4 12
+100.0%
5+ 00
0.0%

Summary: The 24224 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 11.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24224, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in 24224 in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for 24224, VA

How long does it take to sell a home in 24224, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
41 Days23 Days-42.7%

Summary: Homes in 24224 had an average of 23 days on market in Oct 2024, down by 42.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 24224 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 24224; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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

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