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 22 Days Ago

Newest Listings in 24572, VA

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