$4,375,000
5,148 SqFt
4 Beds
•3 Full Baths, 1 Partial
Barbara G Beckwith, Listing Office: McEnearney Associates, LLC
Is Old Town, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller'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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $550.9K | $503K | -8.7% |
| 2 Bedrooms | $844.4K | $950K | +12.5% |
| 3 Bedrooms | $1.3M | $1.4M | +11.1% |
| 4 Bedrooms | $1.4M | $1.7M | +25.4% |
| 5+ Bedrooms | $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 | $990K | $1.3M | +31.3% |
| Waterfront | $975K | $1.1M | +17.9% |
| Braddock Road Metro | $799K | $865.5K | +8.3% |
| Southwest Quadrant | $785K | $815K | +3.8% |
Housing Supply in Old Town, VA
How many homes are available in Old Town, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 41 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 12 | +9.1% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +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
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 18 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
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.
