$3,384 Closing Credit*
$285,000
1,450 SqFt
3 Beds
•2 Full Baths
Julio Moncada, Listing Office: James River Realty Group LLC
Is Hopewell, 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, Hopewell has remained a Seller's Market.
Key Takeaway
Hopewell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hopewell, VA
How much do homes in Hopewell, VA cost?
Median Sold Price
$228,875
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,125(+7.6%)
Key Takeaway
Homes in Hopewell have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Hopewell was $228,875 in October 2024, up 7.6% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | - | N/A |
| 2 Bedrooms | $146.5K | $177.5K | +21.2% |
| 3 Bedrooms | $200K | $222K | +11.0% |
| 4 Bedrooms | $250K | $268.5K | +7.4% |
| 5+ Bedrooms | $289.9K | $285.9K | -1.4% |
Summary: Hopewell 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 21.2%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 1.4%.
Median Sold Price Compared To Nearby Cities
| Hopewell | $212.7K | $228.8K | +7.6% |
| Bermuda | $346.5K | $370K | +6.8% |
| Hopewell | $228K | $239.9K | +5.2% |
| Prince George | $325K | $330K | +1.5% |
| Bland | $339.9K | $335K | -1.4% |
Housing Supply in Hopewell, VA
How many homes are available in Hopewell, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 103 | 124 | +20.4% |
Summary: The Hopewell real estate market had 124 homes for sale in October 2024, a 20.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 17 | +21.4% |
| 3 Bedrooms | 61 | 74 | +21.3% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Hopewell 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 increased by 21.4%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 28 | +75.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopewell, expect to pay close to the asking price. 39.3% of homes here sold near the asking price last month.
Summary: A total of 28 homes were sold or pending in Hopewell in October 2024, up by 75.0% month-over-month. Of the 28 sold homes, 29% were sold under asking, 39% were sold at asking, and 32% were sold over asking.
Days on Market for Hopewell, VA
How long does it take to sell a home in Hopewell, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 25 Days | +51.9% |
Summary: Homes in Hopewell had an average of 25 days on market in Oct 2024, up by 51.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hopewell are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in Hopewell; 68% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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