$2,671 Closing Credit*
$224,900
1,344 SqFt
4 Beds
•2 Full Baths
Derek Greene, Listing Office: The Greene Realty Group
Is Cumberland County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cumberland County has remained a Seller's Market.
Key Takeaway
Cumberland County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cumberland County, VA
How much do homes in Cumberland County, VA cost?
Median Sold Price
$298,475
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,525(+4.7%)
Key Takeaway
Homes in Cumberland County have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Cumberland County was $298,475 in October 2024, up 4.7% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $112.5K | $189K | +68.0% |
| 3 Bedrooms | $287K | $297K | +3.5% |
| 4 Bedrooms | $300K | $397.4K | +32.5% |
| 5+ Bedrooms | $384K | $472.5K | +23.0% |
Summary: Cumberland County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 68%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes increased by 23%.
Median Sold Price Compared To Nearby Counties
| Prince Edward County | $265K | $300K | +13.2% |
| Powhatan County | $426.7K | $455K | +6.6% |
| Buckingham County | $270K | $286.5K | +6.1% |
| Cumberland County | $284.9K | $298.4K | +4.7% |
| Fluvanna County | $360K | $357K | -0.8% |
Housing Supply in Cumberland County, VA
How many homes are available in Cumberland County, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 30 | -21.1% |
Summary: The Cumberland County real estate market had 30 homes for sale in October 2024, a 21.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 29 | 21 | -27.6% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Cumberland County 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 50%, 3 bedroom homes decreased by 27.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
2 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 County, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Cumberland County in October 2024, down by 53.8% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Cumberland County, VA
How long does it take to sell a home in Cumberland County, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 37 Days | -8.4% |
Summary: Homes in Cumberland County had an average of 37 days on market in Oct 2024, down by 8.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cumberland County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Cumberland County; 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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