$3,622 Closing Credit*
$305,000
1,464 SqFt
3 Beds
•2 Full Baths
Stoney Marshall, Listing Office: Hometown Realty Services Inc
Is Cumberland, 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, Cumberland has remained a Seller's Market.
Key Takeaway
Cumberland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cumberland, VA
How much do homes in Cumberland, VA cost?
Median Sold Price
$302,250
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,250(+4.2%)
Key Takeaway
Homes in Cumberland have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Cumberland was $302,250 in November 2024, up 4.2% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $58.2K | $189K | +224.5% |
| 3 Bedrooms | $288.5K | $304.5K | +5.5% |
| 4 Bedrooms | $360K | $405K | +12.5% |
| 5+ Bedrooms | $345K | $600K | +73.9% |
Summary: Cumberland 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 increased by 224.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 73.9%.
Median Sold Price Compared To Nearby Cities
| Columbia | $280K | $314.9K | +12.5% |
| Cartersville | $277.4K | $295K | +6.3% |
| Powhatan | $429.4K | $451.2K | +5.1% |
| Cumberland | $290K | $302.2K | +4.2% |
Housing Supply in Cumberland, VA
How many homes are available in Cumberland, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Cumberland real estate market had 21 homes for sale in November 2024, a 5.0% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 14 | 16 | +14.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Cumberland 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 increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cumberland, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Cumberland in November 2024, down by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 75% were sold at asking, and 25% were sold over asking.
Days on Market for Cumberland, VA
How long does it take to sell a home in Cumberland, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 22 Days | -25.8% |
Summary: Homes in Cumberland had an average of 22 days on market in Nov 2024, down by 25.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cumberland are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Cumberland; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.