Is Back Creek, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Back Creek was a Seller's Market.
Key Takeaway
Back Creek is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Back Creek, VA
How much do homes in Back Creek, VA cost?
Median Sold Price
$365,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Back Creek have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Back Creek was $365,000 in May 2024, up 1.4% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $122K | -28.2% |
| 2 Bedrooms | $200K | $247.7K | +23.9% |
| 3 Bedrooms | $330K | $343.2K | +4.0% |
| 4 Bedrooms | $553.7K | $602.4K | +8.8% |
| 5+ Bedrooms | $670K | $848.5K | +26.7% |
Summary: Back Creek housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.2%, 2 bedroom homes increased by 23.9%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 26.7%.
Median Sold Price Compared To Nearby Cities
| Stephens City | $360K | $393.2K | +9.2% |
| Winchester | $349.2K | $375K | +7.4% |
| Back Creek | $360K | $365K | +1.4% |
Housing Supply in Back Creek, VA
How many homes are available in Back Creek, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 95 | 94 | -1.1% |
Summary: The Back Creek real estate market had 94 homes for sale in May 2024, a 1.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 50 | 50 | 0.0% |
| 4 Bedrooms | 26 | 20 | -23.1% |
| 5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Back Creek housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.2%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 11 | -56.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Back Creek, expect to pay close to the asking price. 54.5% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in Back Creek in May 2024, down by 56.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 55% were sold at asking, and 27% were sold over asking.
Days on Market for Back Creek, VA
How long does it take to sell a home in Back Creek, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 108 Days | +251.4% |
Summary: Homes in Back Creek had an average of 108 days on market in May 2024, up by 251.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Back Creek are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Back Creek; 55% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
