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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Concord is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Concord, VA

How much do homes in Concord, VA cost?

Median Sold Price

$289,900

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,950(+3.9%)

Key Takeaway

Homes in Concord have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Concord was $289,900 in October 2024, up 3.9% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $475K$425K
-10.5%
2 $212K$214.9K
+1.4%
3 $289K$275K
-4.8%
4 $305K$395K
+29.5%
5+ $439.4K$395K
-10.1%

Summary: Concord housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 1.4%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 29.5%, and 5+ bedroom homes decreased by 10.1%.

Median Sold Price Compared To Nearby Cities

Rustburg
+14.3%
Lynchburg
+9.8%
Lynchburg
+9.8%
Concord
+3.9%
Seneca
+3.1%

Housing Supply in Concord, VA

How many homes are available in Concord, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4336-16.3%

Summary: The Concord real estate market had 36 homes for sale in October 2024, a 16.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 53
-40.0%
3 2825
-10.7%
4 106
-40.0%
5+ 02
+100.0%

Summary: The Concord 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 decreased by 40%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
127-41.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Concord, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Concord in October 2024, down by 41.7% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% were sold over asking.

Days on Market for Concord, VA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days59 Days+233.2%

Summary: Homes in Concord had an average of 59 days on market in Oct 2024, up by 233.2% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 7 homes were sold in Concord; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% 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 Concord, VA

Nearby Markets to Concord, VA

What housing markets are near Concord, VA?