$3,254 Closing Credit*
$274,000
1,456 SqFt
3 Beds
•2 Full Baths
Wendalyn Nappier, Listing Office: EXIT Elite Realty
Is Locust Grove, 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, Locust Grove has remained a Seller's Market.
Key Takeaway
Locust Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Locust Grove, VA
How much do homes in Locust Grove, VA cost?
Median Sold Price
$420,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,500(+3.1%)
Key Takeaway
Homes in Locust Grove have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Locust Grove was $420,000 in October 2024, up 3.1% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $153.7K | N/A |
| 2 Bedrooms | $265K | $280K | +5.7% |
| 3 Bedrooms | $362K | $389.9K | +7.7% |
| 4 Bedrooms | $443K | $449.9K | +1.6% |
| 5+ Bedrooms | $450K | $494.9K | +10.0% |
Summary: Locust Grove 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 5.7%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
| Locust Grove | $407.5K | $420K | +3.1% |
| Little River | $386K | $342K | -11.4% |
Housing Supply in Locust Grove, VA
How many homes are available in Locust Grove, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 184 | 174 | -5.4% |
Summary: The Locust Grove real estate market had 174 homes for sale in October 2024, a 5.4% decrease 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 | 6 | 8 | +33.3% |
| 3 Bedrooms | 82 | 73 | -11.0% |
| 4 Bedrooms | 70 | 68 | -2.9% |
| 5+ Bedrooms | 26 | 25 | -3.8% |
Summary: The Locust Grove 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 33.3%, 3 bedroom homes decreased by 11%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 3.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 38 | -13.6% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Locust Grove, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 38 homes were sold or pending in Locust Grove in October 2024, down by 13.6% month-over-month. Of the 38 sold homes, 32% were sold under asking, 50% were sold at asking, and 18% were sold over asking.
Days on Market for Locust Grove, VA
How long does it take to sell a home in Locust Grove, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 46 Days | +91.3% |
Summary: Homes in Locust Grove had an average of 46 days on market in Oct 2024, up by 91.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Locust Grove are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 38 homes were sold in Locust Grove; 42% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.