$10,000 Closing Credit*
$869,038
2,431 SqFt
3 Beds
•2 Full Baths, 1 Partial
AMANDA KATE LEMON, Listing Office: NEST REALTY GROUP
Is Locust Grove, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$535,000
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$64,000(+13.6%)
Key Takeaway
Homes in Locust Grove have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Locust Grove was $535,000 in November 2024, up 13.6% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $285K | N/A |
| 2 Bedrooms | $330K | $382.5K | +15.9% |
| 3 Bedrooms | $434.9K | $506.2K | +16.4% |
| 4 Bedrooms | $525.5K | $592.4K | +12.7% |
| 5+ Bedrooms | $1.5M | $885K | -42.9% |
Summary: Locust Grove housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes decreased by 42.9%.
Housing Supply in Locust Grove, VA
How many homes are available in Locust Grove, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 27 | -18.2% |
Summary: The Locust Grove real estate market had 27 homes for sale in November 2024, a 18.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 20 | 16 | -20.0% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Locust Grove housing inventory by bedroom type for November 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 20%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Locust Grove, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Locust Grove in November 2024, up by 11.1% month-over-month. Of the 10 sold homes, 10% were sold under asking, 40% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 10 Days | 12 Days | +16.2% |
Summary: Homes in Locust Grove had an average of 12 days on market in Nov 2024, up by 16.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Locust Grove are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Locust Grove; 90% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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