Is Petsworth, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Petsworth was a Neutral Market.
Housing Prices in Petsworth, VA
How much do homes in Petsworth, VA cost?
Median Sold Price
$338,500
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Petsworth was $338,500 in May 2024, up 16.7% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $236.5K | N/A |
2 Bedrooms | $270K | $299K | +10.7% |
3 Bedrooms | $285K | $329K | +15.4% |
4 Bedrooms | $427K | $475K | +11.2% |
5+ Bedrooms | - | $610K | N/A |
Summary: Petsworth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Buena Vista | $174K | $239.5K | +37.6% |
Petsworth | $290K | $338.5K | +16.7% |
Gloucester | $325K | $344.9K | +6.1% |
Ware | $325K | $332.7K | +2.4% |
Saluda | $349K | $354.9K | +1.7% |
Housing Supply in Petsworth, VA
How many homes are available in Petsworth, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
72 | 85 | +18.1% |
Summary: The Petsworth real estate market had 85 homes for sale in May 2024, a 18.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 11 | 11 | 0.0% |
3 Bedrooms | 43 | 52 | +20.9% |
4 Bedrooms | 8 | 12 | +50.0% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Petsworth housing inventory by bedroom type for May 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 20.9%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 20 | +185.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Petsworth in May 2024, up by 185.7% month-over-month. Of the 10 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% were sold over asking.
Days on Market for Petsworth, VA
How long does it take to sell a home in Petsworth, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 56 Days | +177.5% |
Summary: Homes in Petsworth had an average of 56 days on market in May 2024, up by 177.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Petsworth; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.