$8,015 Closing Credit*
$674,950
2,252 SqFt
3 Beds
•3 Full Baths, 1 Partial
Kathleen J Quintarelli, Listing Office: Weichert, REALTORS
Is Burke, 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, Burke has remained a Seller's Market.
Key Takeaway
Burke is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burke, VA
How much do homes in Burke, VA cost?
Median Sold Price
$782,475
$334/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$22,725(+3.0%)
Key Takeaway
Homes in Burke have sold for 3% more than they did a year ago.
Summary: The median home sold price in Burke was $782,475 in November 2024, up 3% from last year, and the median price per square foot was $334.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $487.5K | $437.5K | -10.2% |
| 3 Bedrooms | $581K | $620K | +6.7% |
| 4 Bedrooms | $812.5K | $851.5K | +4.8% |
| 5+ Bedrooms | $875K | $902.5K | +3.1% |
Summary: Burke 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 10.2%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 3.1%.
Housing Supply in Burke, VA
How many homes are available in Burke, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 52 | -22.4% |
Summary: The Burke real estate market had 52 homes for sale in November 2024, a 22.4% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 29 | 26 | -10.3% |
| 4 Bedrooms | 26 | 18 | -30.8% |
| 5+ Bedrooms | 12 | 8 | -33.3% |
Summary: The Burke 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 remained the same, 3 bedroom homes decreased by 10.3%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 22 | -29.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burke, you could pay more than the asking price. 59.1% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Burke in November 2024, down by 29.0% month-over-month. Of the 22 sold homes, 27% were sold under asking, 14% were sold at asking, and 59% were sold over asking.
Days on Market for Burke, VA
How long does it take to sell a home in Burke, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 18 Days | -7.3% |
Summary: Homes in Burke had an average of 18 days on market in Nov 2024, down by 7.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burke are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 22 homes were sold in Burke; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
