Is 24550, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24550 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 24550 has remained a Seller's Market.

Key Takeaway

24550 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 24550, VA

How much do homes in 24550, VA cost?

Median Sold Price

$315,800

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$2,900(+0.9%)

Key Takeaway

Homes in 24550 have sold for 0.9% more than they did a year ago.

Summary: The median home sold price in 24550 was $315,800 in October 2024, up 0.9% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $205K-
N/A
2 $99.5K$357.2K
+259.0%
3 $281.5K$280K
-0.5%
4 $385K$488.5K
+26.9%
5+ $389K$503.7K
+29.5%

Summary: 24550 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 259%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 26.9%, and 5+ bedroom homes increased by 29.5%.

Median Sold Price Compared To Nearby Zip Codes

24588
+15.1%
24502
+8.5%
24550
+0.9%
24551
+0.8%
24517
-15.8%

Housing Supply in 24550, VA

How many homes are available in 24550, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2628+7.7%

Summary: The 24550 real estate market had 28 homes for sale in October 2024, a 7.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 1820
+11.1%
4 45
+25.0%
5+ 33
0.0%

Summary: The 24550 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 increased by 11.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24550, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 24550 in October 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for 24550, VA

How long does it take to sell a home in 24550, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
84 Days38 Days-54.7%

Summary: Homes in 24550 had an average of 38 days on market in Oct 2024, down by 54.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 24550 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 24550; 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

Newest Listings in 24550, VA

Nearby Markets to 24550, VA