$4,453 Closing Credit*
$375,000
1,568 SqFt
3 Beds
•2 Full Baths
Ryan Medlin, Listing Office: RE/MAX Commonwealth
Is Mechanicsville, 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, Mechanicsville has remained a Seller's Market.
Key Takeaway
Mechanicsville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mechanicsville, VA
How much do homes in Mechanicsville, VA cost?
Median Sold Price
$450,267
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,515(+8.6%)
Key Takeaway
Homes in Mechanicsville have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Mechanicsville was $450,267 in October 2024, up 8.6% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $352K | $369.9K | +5.1% |
| 3 Bedrooms | $358.3K | $383.3K | +7.0% |
| 4 Bedrooms | $456.5K | $490K | +7.3% |
| 5+ Bedrooms | $590.4K | $625.4K | +5.9% |
Summary: Mechanicsville 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 5.1%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Henry | $430K | $490K | +14.0% |
| Cold Harbor | $404.9K | $459.5K | +13.5% |
| Mechanicsville | $414.7K | $450.2K | +8.6% |
| Chickahominy | $477.2K | $500K | +4.8% |
| Fairfield | $327.7K | $341.2K | +4.1% |
Housing Supply in Mechanicsville, VA
How many homes are available in Mechanicsville, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 304 | 313 | +3.0% |
Summary: The Mechanicsville real estate market had 313 homes for sale in October 2024, a 3.0% increase 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 | 12 | 10 | -16.7% |
| 3 Bedrooms | 135 | 132 | -2.2% |
| 4 Bedrooms | 113 | 127 | +12.4% |
| 5+ Bedrooms | 44 | 44 | 0.0% |
Summary: The Mechanicsville 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 decreased by 16.7%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 78 | 93 | +19.2% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mechanicsville, you may be able to get a good deal. 40.2% of homes here sold below asking price last month.
Summary: A total of 93 homes were sold or pending in Mechanicsville in October 2024, up by 19.2% month-over-month. Of the 92 sold homes, 40% were sold under asking, 24% were sold at asking, and 36% were sold over asking.
Days on Market for Mechanicsville, VA
How long does it take to sell a home in Mechanicsville, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 37 Days | +51.0% |
Summary: Homes in Mechanicsville had an average of 37 days on market in Oct 2024, up by 51% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mechanicsville are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 93 homes were sold in Mechanicsville; 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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