Is Pine Top, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pine Top is a neutral's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Pine Top 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 Pine Top, VA

How much do homes in Pine Top, VA cost?

Median Sold Price

$383,750

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$7,750(-2.0%)

Key Takeaway

Homes in Pine Top have sold for 2% less than they did a year ago.

Summary: The median home sold price in Pine Top was $383,750 in May 2024, down 2% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $158.7K$550K
+246.5%
2 $320K$367.5K
+14.8%
3 $404.5K$383.5K
-5.2%
4 $665K$500K
-24.8%
5+ $1.4M$1.8M
+26.6%

Summary: Pine Top housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 246.5%, 2 bedroom homes increased by 14.8%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 24.8%, and 5+ bedroom homes increased by 26.6%.

Median Sold Price Compared To Nearby Cities

Hartfield
+8.4%
Pine Top
-2.0%

Housing Supply in Pine Top, VA

How many homes are available in Pine Top, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4046+15.0%

Summary: The Pine Top real estate market had 46 homes for sale in May 2024, a 15.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1011
+10.0%
3 2228
+27.3%
4 54
-20.0%
5+ 33
0.0%

Summary: The Pine Top 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 10%, 3 bedroom homes increased by 27.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
107-30.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 7 homes were sold or pending in Pine Top in May 2024, down by 30.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 67% were sold at asking, and 17% were sold over asking.

Days on Market for Pine Top, VA

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

Average Sale Time

May 2023May 2024CHANGE
36 Days86 Days+138.2%

Summary: Homes in Pine Top had an average of 86 days on market in May 2024, up by 138.2% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 7 homes were sold in Pine Top; 57% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 43% 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

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