Is 24572, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 24572 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 24572 has remained a Seller's Market.

Key Takeaway

24572 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 24572, VA

How much do homes in 24572, VA cost?

Median Sold Price

$261,500

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$33,250(+14.6%)

Key Takeaway

Homes in 24572 have sold for 14.6% more than they did a year ago.

Summary: The median home sold price in 24572 was $261,500 in October 2024, up 14.6% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$137K
N/A
2 $151.7K$169.9K
+12.0%
3 $225.9K$261.5K
+15.7%
4 $290K$284K
-2.1%
5+ $277K$384K
+38.6%

Summary: 24572 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 12%, 3 bedroom homes increased by 15.7%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 38.6%.

Median Sold Price Compared To Nearby Zip Codes

24572
+14.6%
24538
+8.4%
24503
+3.8%
24521
-0.6%
24504
-12.0%

Housing Supply in 24572, VA

How many homes are available in 24572, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6173+19.7%

Summary: The 24572 real estate market had 73 homes for sale in October 2024, a 19.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 78
+14.3%
3 3746
+24.3%
4 1415
+7.1%
5+ 24
+100.0%

Summary: The 24572 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 24.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
913+44.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 24572, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in 24572 in October 2024, up by 44.4% month-over-month. Of the 13 sold homes, 62% were sold under asking, 23% were sold at asking, and 15% were sold over asking.

Days on Market for 24572, VA

How long does it take to sell a home in 24572, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
11 Days31 Days+173.3%

Summary: Homes in 24572 had an average of 31 days on market in Oct 2024, up by 173.3% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 24572 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in 24572; 62% of homes were sold within 30 days, 38% 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 24572, VA

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