Is Petsworth, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Petsworth is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Petsworth was a Neutral Market.

Key Takeaway

Petsworth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$48,500(+16.7%)

Key Takeaway

Homes in Petsworth have sold for 16.7% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 -$236.5K
N/A
2 $270K$299K
+10.7%
3 $285K$329K
+15.4%
4 $427K$475K
+11.2%
5+ -$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
+37.6%
Petsworth
+16.7%
Gloucester
+6.1%
Ware
+2.4%
Saluda
+1.7%

Housing Supply in Petsworth, VA

How many homes are available in Petsworth, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7285+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

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 1111
0.0%
3 4352
+20.9%
4 812
+50.0%
5+ 88
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 2024May 2024CHANGE
720+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Petsworth, you could pay more than the asking price. 40% of homes here sold above asking price last month.

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 2023May 2024CHANGE
20 Days56 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 3 Days Ago

Newest Listings in Petsworth, VA

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