$3,681 Closing Credit*
$310,000
612 SqFt
1 Bed
•1 Full Bath
Wes W. Stearns, Listing Office: M.O. Wilson Properties
Is Northeast, 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, Northeast has remained a Seller's Market.
Key Takeaway
Northeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northeast, VA
How much do homes in Northeast, VA cost?
Median Sold Price
$812,500
$545/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$90,000(+12.5%)
Key Takeaway
Homes in Northeast have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Northeast was $812,500 in October 2024, up 12.5% from last year, and the median price per square foot was $545.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $297.5K | $297.5K | 0.0% |
| 2 Bedrooms | $722.5K | $785K | +8.7% |
| 3 Bedrooms | $832.3K | $1.0M | +20.2% |
| 4 Bedrooms | $925K | $1.0M | +14.1% |
| 5+ Bedrooms | - | - | N/A |
Summary: Northeast 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 8.7%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Waterfront | $975K | $1.1M | +17.9% |
| Northeast | $722.5K | $812.5K | +12.5% |
| Old Town North | $690K | $699.9K | +1.4% |
Housing Supply in Northeast, VA
How many homes are available in Northeast, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Northeast real estate market had 14 homes for sale in October 2024, a 7.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Northeast 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 40%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northeast, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Northeast in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Northeast, VA
How long does it take to sell a home in Northeast, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 13 Days | +18.2% |
Summary: Homes in Northeast had an average of 13 days on market in Oct 2024, up by 18.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northeast are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Northeast; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
