Is 24538, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24538 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 24538 has remained a Seller's Market.

Key Takeaway

24538 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 24538, VA

How much do homes in 24538, VA cost?

Median Sold Price

$308,900

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,000(+8.4%)

Key Takeaway

Homes in 24538 have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in 24538 was $308,900 in October 2024, up 8.4% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $475K$425K
-10.5%
2 $210K$242K
+15.2%
3 $289.4K$294.6K
+1.8%
4 $234.9K$389.5K
+65.8%
5+ $249K$372.5K
+49.6%

Summary: 24538 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 65.8%, and 5+ bedroom homes increased by 49.6%.

Median Sold Price Compared To Nearby Zip Codes

24588
+15.1%
24538
+8.4%
24522
+6.5%
24593
-1.0%
24504
-12.0%

Housing Supply in 24538, VA

How many homes are available in 24538, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1918-5.3%

Summary: The 24538 real estate market had 18 homes for sale in October 2024, a 5.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 1615
-6.3%
4 22
0.0%
5+ 01
+100.0%

Summary: The 24538 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 decreased by 100%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
440.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24538, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 24538 in October 2024, the same as the previous month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 24538, VA

How long does it take to sell a home in 24538, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days72 Days+247.6%

Summary: Homes in 24538 had an average of 72 days on market in Oct 2024, up by 247.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 24538 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 4 homes were sold in 24538; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% 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 24538, VA

Nearby Markets to 24538, VA