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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Piankatank is a buyer's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Piankatank is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Piankatank, VA

How much do homes in Piankatank, VA cost?

Median Sold Price

$281,000

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$99,000(-26.1%)

Key Takeaway

Homes in Piankatank have sold for 26.1% less than they did a year ago.

Summary: The median home sold price in Piankatank was $281,000 in May 2024, down 26.1% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $596.5K-
N/A
2 $325.4K$301.9K
-7.2%
3 $377.5K$271K
-28.2%
4 $847K$495K
-41.6%
5+ --
N/A

Summary: Piankatank 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 decreased by 7.2%, 3 bedroom homes decreased by 28.2%, 4 bedroom homes decreased by 41.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Westville
+16.2%
Piankatank
-26.1%

Housing Supply in Piankatank, VA

How many homes are available in Piankatank, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2934+17.2%

Summary: The Piankatank real estate market had 34 homes for sale in May 2024, a 17.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 1520
+33.3%
4 86
-25.0%
5+ 12
+100.0%

Summary: The Piankatank 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 increased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
62-66.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Piankatank, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Piankatank in May 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Piankatank, VA

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

Average Sale Time

May 2023May 2024CHANGE
41 Days128 Days+211.5%

Summary: Homes in Piankatank had an average of 128 days on market in May 2024, up by 211.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 2 homes were sold in Piankatank; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 4 Days Ago

Newest Listings in Piankatank, VA

Nearby Markets to Piankatank, VA

What housing markets are near Piankatank, VA?