Is 24401, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24401 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 24401 has remained a Seller's Market.

Key Takeaway

24401 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 24401, VA

How much do homes in 24401, VA cost?

Median Sold Price

$411,000

$171/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$117,056(+39.8%)

Key Takeaway

Homes in 24401 have sold for 39.8% more than they did a month ago.

Summary: The median home sold price in 24401 was $411,000 in November 2024, up 39.8% from last month, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $242.8K-
N/A
3 $384K$301K
-21.6%
4 $235.5K$463K
+96.6%
5+ -$409K
N/A

Summary: 24401 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 21.6%, 4 bedroom homes increased by 96.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

24401
+39.8%
22939
+10.5%

Housing Supply in 24401, VA

How many homes are available in 24401, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2427+12.5%

Summary: The 24401 real estate market had 27 homes for sale in November 2024, a 12.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 1112
+9.1%
4 79
+28.6%
5+ 34
+33.3%

Summary: The 24401 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
89+12.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24401, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 24401 in November 2024, up by 12.5% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.

Days on Market for 24401, VA

How long does it take to sell a home in 24401, VA?

Average Sale Time

Oct 2024Nov 2024CHANGE
39 Days15 Days-61.1%

Summary: Homes in 24401 had an average of 15 days on market in Nov 2024, down by 61.1% compared to last month.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 24401 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 9 homes were sold in 24401; 78% of homes were sold within 30 days, 22% 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 21 Days Ago

Newest Listings in 24401, VA

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