Is 24557, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24557 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 24557 has remained a Seller's Market.

Key Takeaway

24557 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 24557, VA

How much do homes in 24557, VA cost?

Median Sold Price

$220,000

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,000(+12.2%)

Key Takeaway

Homes in 24557 have sold for 12.2% more than they did a year ago.

Summary: The median home sold price in 24557 was $220,000 in October 2024, up 12.2% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $178K$166.5K
-6.5%
3 $167K$220K
+31.7%
4 $411K$430.6K
+4.8%
5+ $469.9K$420K
-10.6%

Summary: 24557 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 decreased by 6.5%, 3 bedroom homes increased by 31.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 10.6%.

Median Sold Price Compared To Nearby Zip Codes

24563
+14.3%
24557
+12.2%

Housing Supply in 24557, VA

How many homes are available in 24557, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1513-13.3%

Summary: The 24557 real estate market had 13 homes for sale in October 2024, a 13.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 21
-50.0%
3 97
-22.2%
4 23
+50.0%
5+ 11
0.0%

Summary: The 24557 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 50%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24557, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 24557 in October 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for 24557, VA

How long does it take to sell a home in 24557, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days40 Days+116.2%

Summary: Homes in 24557 had an average of 40 days on market in Oct 2024, up by 116.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 24557 has remained consistent over time.

Summary: During October 2024, 3 homes were sold in 24557; 33% of homes were sold within 30 days, 67% 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 24557, VA

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