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 20 Days Ago

Newest Listings in 24550, VA

Nearby Markets to 24550, VA