$4,738 Closing Credit*
$399,000
1,635 SqFt
4 Beds
•3 Full Baths, 1 Partial
Jeany Garrido, Listing Office: EXP Realty LLC
Is Bermuda, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Bermuda has remained a Seller's Market.
Key Takeaway
Bermuda is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bermuda, VA
How much do homes in Bermuda, VA cost?
Median Sold Price
$370,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,241(+5.8%)
Key Takeaway
Homes in Bermuda have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Bermuda was $370,000 in November 2024, up 5.8% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $210K | N/A |
| 2 Bedrooms | $220K | $215K | -2.3% |
| 3 Bedrooms | $312K | $334.6K | +7.2% |
| 4 Bedrooms | $387K | $400K | +3.4% |
| 5+ Bedrooms | $461.2K | $500K | +8.4% |
Summary: Bermuda 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 decreased by 2.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Varina | $279.2K | $310K | +11.0% |
| Colonial Heights | $265K | $293K | +10.6% |
| Hopewell | $215K | $230K | +7.0% |
| Chester | $355.6K | $379.6K | +6.8% |
| Bermuda | $349.7K | $370K | +5.8% |
Housing Supply in Bermuda, VA
How many homes are available in Bermuda, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 314 | 302 | -3.8% |
Summary: The Bermuda real estate market had 302 homes for sale in November 2024, a 3.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 18 | 13 | -27.8% |
| 3 Bedrooms | 129 | 130 | +0.8% |
| 4 Bedrooms | 113 | 104 | -8.0% |
| 5+ Bedrooms | 54 | 55 | +1.9% |
Summary: The Bermuda 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 27.8%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 1.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 73 | 76 | +4.1% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
31 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bermuda, expect to pay close to the asking price. 41.3% of homes here sold near the asking price last month.
Summary: A total of 76 homes were sold or pending in Bermuda in November 2024, up by 4.1% month-over-month. Of the 75 sold homes, 28% were sold under asking, 41% were sold at asking, and 31% were sold over asking.
Days on Market for Bermuda, VA
How long does it take to sell a home in Bermuda, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 27 Days | -6.8% |
Summary: Homes in Bermuda had an average of 27 days on market in Nov 2024, down by 6.8% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bermuda are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 76 homes were sold in Bermuda; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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