$5,713 Closing Credit*
$481,070
2,298 SqFt
4 Beds
•3 Full Baths, 1 Partial
CHRISTOPHER B SYLVES, 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 Last Month
Since last month, 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
$530,000
$266/sqft
Based on all homes sold in August 2024.
Difference Since Last Month
-$10,000(-1.9%)
Key Takeaway
Homes in Locust Grove have sold for 1.9% less than they did a month ago.
Summary: The median home sold price in Locust Grove was $530,000 in August 2024, down 1.9% from last month, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $525K | - | N/A |
| 3 Bedrooms | $542K | $530K | -2.2% |
| 4 Bedrooms | $496.8K | $480.7K | -3.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: Locust Grove housing prices by bedroom type for August 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| River Run | $290K | $325K | +12.1% |
| Locust Grove | $540K | $530K | -1.9% |
Housing Supply in Locust Grove, VA
How many homes are available in Locust Grove, VA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 45 | 39 | -13.3% |
Summary: The Locust Grove real estate market had 39 homes for sale in August 2024, a 13.3% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 29 | 24 | -17.2% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Locust Grove housing inventory by bedroom type for August 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 17.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Locust Grove, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Locust Grove in August 2024, the same as the previous month. Of the 13 sold homes, 15% were sold under asking, 31% were sold at asking, and 54% 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
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 15 Days | 28 Days | +84.1% |
Summary: Homes in Locust Grove had an average of 28 days on market in Aug 2024, up by 84.1% compared to last month.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 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 August 2024, 13 homes were sold in Locust Grove; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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