$2,969 Closing Credit*
$250,000
1,166 SqFt
3 Beds
•2 Full Baths
Mike Hogan, Listing Office: The Hogan Group Real Estate
Is Powhatan County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Powhatan County has remained a Seller's Market.
Key Takeaway
Powhatan County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Powhatan County, VA
How much do homes in Powhatan County, VA cost?
Median Sold Price
$455,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,250(+6.6%)
Key Takeaway
Homes in Powhatan County have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Powhatan County was $455,000 in October 2024, up 6.6% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189.9K | $275K | +44.8% |
| 2 Bedrooms | $268.7K | $329.9K | +22.8% |
| 3 Bedrooms | $350K | $387.4K | +10.7% |
| 4 Bedrooms | $570.4K | $578K | +1.3% |
| 5+ Bedrooms | $757K | $714.9K | -5.6% |
Summary: Powhatan County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.8%, 2 bedroom homes increased by 22.8%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Counties
| Goochland County | $499.2K | $575K | +15.2% |
| Henrico County | $391.5K | $429.7K | +9.8% |
| Amelia County | $305K | $330.5K | +8.4% |
| Powhatan County | $426.7K | $455K | +6.6% |
| Cumberland County | $284.9K | $298.4K | +4.7% |
Housing Supply in Powhatan County, VA
How many homes are available in Powhatan County, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 104 | 99 | -4.8% |
Summary: The Powhatan County real estate market had 99 homes for sale in October 2024, a 4.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 2 | -66.7% |
| 3 Bedrooms | 50 | 49 | -2.0% |
| 4 Bedrooms | 35 | 38 | +8.6% |
| 5+ Bedrooms | 12 | 9 | -25.0% |
Summary: The Powhatan County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 22 | -29.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Powhatan County, you could pay more than the asking price. 36.4% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Powhatan County in October 2024, down by 29.0% month-over-month. Of the 22 sold homes, 32% were sold under asking, 32% were sold at asking, and 36% were sold over asking.
Days on Market for Powhatan County, VA
How long does it take to sell a home in Powhatan County, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 21 Days | +22.8% |
Summary: Homes in Powhatan County had an average of 21 days on market in Oct 2024, up by 22.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Powhatan County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 22 homes were sold in Powhatan County; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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