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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gainesboro is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Gainesboro, VA

How much do homes in Gainesboro, VA cost?

Median Sold Price

$420,000

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$24,249(+6.1%)

Key Takeaway

Homes in Gainesboro have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Gainesboro was $420,000 in November 2024, up 6.1% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $267.5K$325K
+21.5%
2 $357K$341K
-4.5%
3 $372.9K$387.5K
+3.9%
4 $444.5K$487.5K
+9.7%
5+ $625K$790K
+26.4%

Summary: Gainesboro housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.5%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 26.4%.

Median Sold Price Compared To Nearby Cities

Bloomery
+31.6%
Winchester
+6.6%
Gainesboro
+6.1%
Cross Junction
+0.6%

Housing Supply in Gainesboro, VA

How many homes are available in Gainesboro, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5365+22.6%

Summary: The Gainesboro real estate market had 65 homes for sale in November 2024, a 22.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 12
+100.0%
2 48
+100.0%
3 2833
+17.9%
4 1721
+23.5%
5+ 31
-66.7%

Summary: The Gainesboro housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
512+140.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 12 homes were sold or pending in Gainesboro in November 2024, up by 140.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for Gainesboro, VA

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

Average Sale Time

Nov 2023Nov 2024CHANGE
61 Days34 Days-44.2%

Summary: Homes in Gainesboro had an average of 34 days on market in Nov 2024, down by 44.2% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 12 homes were sold in Gainesboro; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% 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 17 Days Ago

Newest Listings in Gainesboro, VA

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