$4,869 Closing Credit*
$410,000
1,629 SqFt
3 Beds
•2 Full Baths
Mike Chenault, Listing Office: Hometown Realty
Is Mechanicsville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Mechanicsville has remained a Seller's Market.
Key Takeaway
Mechanicsville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mechanicsville, VA
How much do homes in Mechanicsville, VA cost?
Median Sold Price
$450,267
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,515(+8.6%)
Key Takeaway
Homes in Mechanicsville have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Mechanicsville was $450,267 in October 2024, up 8.6% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $352K | $369.9K | +5.1% |
| 3 Bedrooms | $358.3K | $383.3K | +7.0% |
| 4 Bedrooms | $456.5K | $490K | +7.3% |
| 5+ Bedrooms | $590.4K | $625.4K | +5.9% |
Summary: Mechanicsville 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 5.1%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Henry | $430K | $490K | +14.0% |
| Cold Harbor | $404.9K | $459.5K | +13.5% |
| Mechanicsville | $414.7K | $450.2K | +8.6% |
| Chickahominy | $477.2K | $500K | +4.8% |
| Fairfield | $327.7K | $341.2K | +4.1% |
Housing Supply in Mechanicsville, VA
How many homes are available in Mechanicsville, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 304 | 313 | +3.0% |
Summary: The Mechanicsville real estate market had 313 homes for sale in October 2024, a 3.0% 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 | 12 | 10 | -16.7% |
| 3 Bedrooms | 135 | 132 | -2.2% |
| 4 Bedrooms | 113 | 127 | +12.4% |
| 5+ Bedrooms | 44 | 44 | 0.0% |
Summary: The Mechanicsville 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 16.7%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 78 | 93 | +19.2% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mechanicsville, you may be able to get a good deal. 40.2% of homes here sold below asking price last month.
Summary: A total of 93 homes were sold or pending in Mechanicsville in October 2024, up by 19.2% month-over-month. Of the 92 sold homes, 40% were sold under asking, 24% were sold at asking, and 36% were sold over asking.
Days on Market for Mechanicsville, VA
How long does it take to sell a home in Mechanicsville, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 37 Days | +51.0% |
Summary: Homes in Mechanicsville had an average of 37 days on market in Oct 2024, up by 51% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mechanicsville are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 93 homes were sold in Mechanicsville; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved