$5,926 Closing Credit*
$499,000
1,077 SqFt
2 Beds
•2 Full Baths
Willson Brockenbrough, Listing Office: Keller Williams Realty
Is Downtown, 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, Downtown has remained a Seller's Market.
Key Takeaway
Downtown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Downtown, VA
How much do homes in Downtown, VA cost?
Median Sold Price
$358,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$27,470(-7.1%)
Key Takeaway
Homes in Downtown have sold for 7.1% less than they did a year ago.
Summary: The median home sold price in Downtown was $358,000 in November 2024, down 7.1% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259K | $273K | +5.4% |
| 2 Bedrooms | $375K | $359K | -4.3% |
| 3 Bedrooms | $418.7K | $406.2K | -3.0% |
| 4 Bedrooms | $610K | $469.9K | -23.0% |
| 5+ Bedrooms | $497.5K | $573K | +15.2% |
Summary: Downtown housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 23%, and 5+ bedroom homes increased by 15.2%.
Housing Supply in Downtown, VA
How many homes are available in Downtown, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 53 | 46 | -13.2% |
Summary: The Downtown real estate market had 46 homes for sale in November 2024, a 13.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 9 | -30.8% |
| 2 Bedrooms | 15 | 14 | -6.7% |
| 3 Bedrooms | 21 | 21 | 0.0% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Downtown housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30.8%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Downtown in November 2024, the same as the previous month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Downtown, VA
How long does it take to sell a home in Downtown, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 61 Days | 28 Days | -53.1% |
Summary: Homes in Downtown had an average of 28 days on market in Nov 2024, down by 53.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Downtown are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 12 homes were sold in Downtown; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved