$3,561 Closing Credit*
$299,900
1,495 SqFt
3 Beds
•2 Full Baths
Ashley C Eiban, Listing Office: eXp Realty LLC-Lynchburg
Is 24501, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 24501 has remained a Seller's Market.
Key Takeaway
24501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24501, VA
How much do homes in 24501, VA cost?
Median Sold Price
$214,883
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,666(+7.3%)
Key Takeaway
Homes in 24501 have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in 24501 was $214,883 in October 2024, up 7.3% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $107.7K | N/A |
| 2 Bedrooms | $150.4K | $152.5K | +1.4% |
| 3 Bedrooms | $200.6K | $214.5K | +6.9% |
| 4 Bedrooms | $280.2K | $307.3K | +9.7% |
| 5+ Bedrooms | $208.5K | $329.9K | +58.2% |
Summary: 24501 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 1.4%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 58.2%.
Housing Supply in 24501, VA
How many homes are available in 24501, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 125 | 121 | -3.2% |
Summary: The 24501 real estate market had 121 homes for sale in October 2024, a 3.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 31 | 39 | +25.8% |
| 3 Bedrooms | 60 | 54 | -10.0% |
| 4 Bedrooms | 29 | 24 | -17.2% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 24501 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25.8%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 28 | -12.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24501, expect to pay close to the asking price. 39.3% of homes here sold near the asking price last month.
Summary: A total of 28 homes were sold or pending in 24501 in October 2024, down by 12.5% month-over-month. Of the 28 sold homes, 32% were sold under asking, 39% were sold at asking, and 29% were sold over asking.
Days on Market for 24501, VA
How long does it take to sell a home in 24501, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 25 Days | +46.7% |
Summary: Homes in 24501 had an average of 25 days on market in Oct 2024, up by 46.7% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 24501 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in 24501; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.