Is Ford's Colony, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ford's Colony is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

Ford's Colony is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Ford's Colony, VA

How much do homes in Ford's Colony, VA cost?

Median Sold Price

$735,000

$240/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$15,000(-2.0%)

Key Takeaway

Homes in Ford's Colony have sold for 2% less than they did a year ago.

Summary: The median home sold price in Ford's Colony was $735,000 in October 2024, down 2% from last year, and the median price per square foot was $240.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $623.8K$537.5K
-13.8%
3 $710K$700K
-1.4%
4 $799K$733K
-8.3%
5+ $890K$1.1M
+23.6%

Summary: Ford's Colony 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 13.8%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 23.6%.

Housing Supply in Ford's Colony, VA

How many homes are available in Ford's Colony, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6357-9.5%

Summary: The Ford's Colony real estate market had 57 homes for sale in October 2024, a 9.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 55
0.0%
3 1917
-10.5%
4 2119
-9.5%
5+ 1816
-11.1%

Summary: The Ford's Colony 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 decreased by 10.5%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1617+6.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ford's Colony, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Ford's Colony in October 2024, up by 6.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.

Days on Market for Ford's Colony, VA

How long does it take to sell a home in Ford's Colony, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days25 Days+37.4%

Summary: Homes in Ford's Colony had an average of 25 days on market in Oct 2024, up by 37.4% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 17 homes were sold in Ford's Colony; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% 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

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