Is Colonial Heritage, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colonial Heritage is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Colonial Heritage was a Buyer's Market.

Key Takeaway

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

Housing Prices in Colonial Heritage, VA

How much do homes in Colonial Heritage, VA cost?

Median Sold Price

$602,000

$159/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$58,000(-8.8%)

Key Takeaway

Homes in Colonial Heritage have sold for 8.8% less than they did a month ago.

Summary: The median home sold price in Colonial Heritage was $602,000 in October 2024, down 8.8% from last month, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 -$509K
N/A
4 $660K$695K
+5.3%
5+ --
N/A

Summary: Colonial Heritage housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes did not change.

Housing Supply in Colonial Heritage, VA

How many homes are available in Colonial Heritage, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
31310.0%

Summary: The Colonial Heritage real estate market had 31 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 1214
+16.7%
4 1310
-23.1%
5+ 22
0.0%

Summary: The Colonial Heritage 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 increased by 25%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
38+166.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colonial Heritage, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Colonial Heritage in October 2024, up by 166.7% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Colonial Heritage, VA

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

Average Sale Time

Sep 2024Oct 2024CHANGE
62 Days31 Days-50.0%

Summary: Homes in Colonial Heritage had an average of 31 days on market in Oct 2024, down by 50% compared to last month.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Colonial Heritage are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in Colonial Heritage; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% 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 20 Days Ago

Newest Listings in Colonial Heritage, VA

Nearby Markets to Colonial Heritage, VA