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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Emporia is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Emporia, VA

How much do homes in Emporia, VA cost?

Median Sold Price

$180,000

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,000(+2.9%)

Key Takeaway

Homes in Emporia have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in Emporia was $180,000 in October 2024, up 2.9% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $139.9K$57.7K
-58.7%
3 $175K$171K
-2.3%
4 $214.9K$206.7K
-3.8%
5+ -$257K
N/A

Summary: Emporia 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 decreased by 58.7%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes did not change.

Housing Supply in Emporia, VA

How many homes are available in Emporia, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3638+5.6%

Summary: The Emporia real estate market had 38 homes for sale in October 2024, a 5.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 2627
+3.8%
4 79
+28.6%
5+ 21
-50.0%

Summary: The Emporia 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 remained the same, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
28+300.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Emporia, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Emporia in October 2024, up by 300.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for Emporia, VA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days47 Days+150.7%

Summary: Homes in Emporia had an average of 47 days on market in Oct 2024, up by 150.7% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 8 homes were sold in Emporia; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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 21 Days Ago

Newest Listings in Emporia, VA

Nearby Markets to Emporia, VA