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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kilmarnock is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Kilmarnock was a Neutral Market.

Key Takeaway

Kilmarnock is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Kilmarnock, VA

How much do homes in Kilmarnock, VA cost?

Median Sold Price

$470,000

$240/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$31,000(+7.1%)

Key Takeaway

Homes in Kilmarnock have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Kilmarnock was $470,000 in October 2024, up 7.1% 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 $195K$265.5K
+36.2%
3 $415K$389.5K
-6.1%
4 $600K$1.0M
+66.7%
5+ $2.9M$1.5M
-47.0%

Summary: Kilmarnock 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 36.2%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 47%.

Median Sold Price Compared To Nearby Cities

Kilmarnock
+7.1%
Lancaster
+3.1%
Kilmarnock
-0.5%

Housing Supply in Kilmarnock, VA

How many homes are available in Kilmarnock, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6364+1.6%

Summary: The Kilmarnock real estate market had 64 homes for sale in October 2024, a 1.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1010
0.0%
3 3940
+2.6%
4 1212
0.0%
5+ 22
0.0%

Summary: The Kilmarnock 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 2.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
87-12.5%

Asking Price vs. Sold Price

0 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 Kilmarnock, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Kilmarnock in October 2024, down by 12.5% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for Kilmarnock, VA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
1 Day55 Days+5400.0%

Summary: Homes in Kilmarnock had an average of 55 days on market in Oct 2024, up by 5400% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 7 homes were sold in Kilmarnock; 71% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% 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 12 Days Ago

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