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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Abingdon is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Abingdon, VA

How much do homes in Abingdon, VA cost?

Median Sold Price

$320,000

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$7,500(+2.4%)

Key Takeaway

Homes in Abingdon have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in Abingdon was $320,000 in November 2024, up 2.4% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $120K-
N/A
2 $191.2K$263K
+37.5%
3 $285K$301K
+5.6%
4 $395K$372.4K
-5.7%
5+ $560K$525K
-6.3%

Summary: Abingdon housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 6.3%.

Median Sold Price Compared To Nearby Cities

York
+8.5%
Hayes
+7.3%
Gloucester
+7.0%
Ware
+4.4%
Abingdon
+2.4%

Housing Supply in Abingdon, VA

How many homes are available in Abingdon, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
113112-0.9%

Summary: The Abingdon real estate market had 112 homes for sale in November 2024, a 0.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 109
-10.0%
3 6971
+2.9%
4 2728
+3.7%
5+ 74
-42.9%

Summary: The Abingdon housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 42.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2720-25.9%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Abingdon, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Abingdon in November 2024, down by 25.9% month-over-month. Of the 15 sold homes, 73% were sold under asking, 7% were sold at asking, and 20% were sold over asking.

Days on Market for Abingdon, VA

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

Average Sale Time

Nov 2023Nov 2024CHANGE
52 Days56 Days+6.3%

Summary: Homes in Abingdon had an average of 56 days on market in Nov 2024, up by 6.3% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 20 homes were sold in Abingdon; 25% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 15% 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 17 Days Ago

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