$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, 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 has remained a Seller's Market.
Key Takeaway
Powhatan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Powhatan, VA
How much do homes in Powhatan, VA cost?
Median Sold Price
$455,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,400(+6.7%)
Key Takeaway
Homes in Powhatan have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Powhatan was $455,000 in October 2024, up 6.7% 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 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 Cities
| Amelia Court House | $305K | $334K | +9.5% |
| Powhatan | $426.6K | $455K | +6.7% |
| Moseley | $575.5K | $580K | +0.8% |
Housing Supply in Powhatan, VA
How many homes are available in Powhatan, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 104 | 99 | -4.8% |
Summary: The Powhatan 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 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, 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 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, VA
How long does it take to sell a home in Powhatan, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 21 Days | +22.8% |
Summary: Homes in Powhatan 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 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 22 homes were sold in Powhatan; 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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