Is Old Town, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Old Town is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Old Town was a Seller's Market.

Key Takeaway

Old Town is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Old Town, VA

How much do homes in Old Town, VA cost?

Median Sold Price

$1,300,000

$691/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$310,000(+31.3%)

Key Takeaway

Homes in Old Town have sold for 31.3% more than they did a year ago.

Summary: The median home sold price in Old Town was $1,300,000 in October 2024, up 31.3% from last year, and the median price per square foot was $691.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $550.9K$503K
-8.7%
2 $844.4K$950K
+12.5%
3 $1.3M$1.4M
+11.1%
4 $1.4M$1.7M
+25.4%
5+ $2.9M$2.4M
-14.4%

Summary: Old Town housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.7%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 25.4%, and 5+ bedroom homes decreased by 14.4%.

Median Sold Price Compared To Nearby Neighborhoods

Old Town
+31.3%
Waterfront
+17.9%
Braddock Road Metro
+8.3%
Southwest Quadrant
+3.8%

Housing Supply in Old Town, VA

How many homes are available in Old Town, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3241+28.1%

Summary: The Old Town real estate market had 41 homes for sale in October 2024, a 28.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1112
+9.1%
2 68
+33.3%
3 1215
+25.0%
4 36
+100.0%
5+ 00
0.0%

Summary: The Old Town housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
56+20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Old Town, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in Old Town in October 2024, up by 20.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.

Days on Market for Old Town, VA

How long does it take to sell a home in Old Town, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days18 Days-42.2%

Summary: Homes in Old Town had an average of 18 days on market in Oct 2024, down by 42.2% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Old Town are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in Old Town; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Old Town, VA

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