$595,000
53.54 Acres
Land
Ben Day Jauch, Listing Office: ADVANCE LAND AND TIMBER LLC
Is 24588, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 24588 was a Seller's Market.
Key Takeaway
24588 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 24588, VA
How much do homes in 24588, VA cost?
Median Sold Price
$320,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$42,050(+15.1%)
Key Takeaway
Homes in 24588 have sold for 15.1% more than they did a year ago.
Summary: The median home sold price in 24588 was $320,000 in October 2024, up 15.1% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $154.5K | $182K | +17.8% |
| 3 Bedrooms | $274K | $305K | +11.3% |
| 4 Bedrooms | $305.5K | $410K | +34.2% |
| 5+ Bedrooms | $567.5K | $685K | +20.7% |
Summary: 24588 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 17.8%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 34.2%, and 5+ bedroom homes increased by 20.7%.
Housing Supply in 24588, VA
How many homes are available in 24588, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 38 | +5.6% |
Summary: The 24588 real estate market had 38 homes for sale in October 2024, a 5.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 24588 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 remained the same, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 24588, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in 24588 in October 2024, down by 16.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.
Days on Market for 24588, VA
How long does it take to sell a home in 24588, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 59 Days | 61 Days | +3.2% |
Summary: Homes in 24588 had an average of 61 days on market in Oct 2024, up by 3.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 24588 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 24588; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
