Is 24504, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24504 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 24504 was a Seller's Market.

Key Takeaway

24504 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 24504, VA

How much do homes in 24504, VA cost?

Median Sold Price

$160,000

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$21,779(-12.0%)

Key Takeaway

Homes in 24504 have sold for 12% less than they did a year ago.

Summary: The median home sold price in 24504 was $160,000 in October 2024, down 12% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $219.9K$209.4K
-4.8%
2 $143.5K$89.9K
-37.4%
3 $180K$173K
-3.9%
4 $207.5K$193K
-7.0%
5+ $410K$387.4K
-5.5%

Summary: 24504 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes decreased by 37.4%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes decreased by 5.5%.

Median Sold Price Compared To Nearby Zip Codes

24588
+15.1%
24572
+14.6%
24538
+8.4%
24501
+7.3%
24504
-12.0%

Housing Supply in 24504, VA

How many homes are available in 24504, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6772+7.5%

Summary: The 24504 real estate market had 72 homes for sale in October 2024, a 7.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 35
+66.7%
2 1614
-12.5%
3 3133
+6.5%
4 1213
+8.3%
5+ 57
+40.0%

Summary: The 24504 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1410-28.6%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24504, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 24504 in October 2024, down by 28.6% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.

Days on Market for 24504, VA

How long does it take to sell a home in 24504, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
61 Days40 Days-34.4%

Summary: Homes in 24504 had an average of 40 days on market in Oct 2024, down by 34.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 24504 has remained consistent over time.

Summary: During October 2024, 10 homes were sold in 24504; 30% of homes were sold within 30 days, 60% 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 20 Days Ago

Newest Listings in 24504, VA

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