$2,731 Closing Credit*
$230,000
1,288 SqFt
3 Beds
•2 Full Baths
Katelyn Ralston, Listing Office: Virginia Capital Realty
Is Hopewell, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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
$245,300
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$12,183(+5.2%)
Key Takeaway
Homes in Hopewell have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Hopewell was $245,300 in December 2024, up 5.2% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | - | N/A |
| 2 Bedrooms | $151.4K | $186.9K | +23.4% |
| 3 Bedrooms | $225K | $235K | +4.4% |
| 4 Bedrooms | $269.9K | $290K | +7.4% |
| 5+ Bedrooms | $311.1K | $295K | -5.2% |
Summary: Hopewell housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.4%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 5.2%.
Median Sold Price Compared To Nearby Cities
| Hopewell | $220K | $235K | +6.8% |
| Hopewell | $233.1K | $245.3K | +5.2% |
| Prince George | $323.9K | $335K | +3.4% |
| Bland | $335K | $340K | +1.5% |
Housing Supply in Hopewell, VA
How many homes are available in Hopewell, VA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 133 | 115 | -13.5% |
Summary: The Hopewell real estate market had 115 homes for sale in December 2024, a 13.5% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 85 | 70 | -17.6% |
| 4 Bedrooms | 25 | 20 | -20.0% |
| 5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Hopewell housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 33 | 29 | -12.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopewell, expect to pay close to the asking price. 37% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in Hopewell in December 2024, down by 12.1% month-over-month. Of the 27 sold homes, 33% were sold under asking, 37% were sold at asking, and 30% 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 39 Days | 25 Days | -36.3% |
Summary: Homes in Hopewell had an average of 25 days on market in Dec 2024, down by 36.3% compared to last year.
Breakdown of Home Sale Times
20 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 December 2024, 29 homes were sold in Hopewell; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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