Is Preston Park, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Preston Park is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Preston Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Preston Park, VA

How much do homes in Preston Park, VA cost?

Median Sold Price

$237,000

$148/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$37,000(+18.5%)

Key Takeaway

Homes in Preston Park have sold for 18.5% more than they did a year ago.

Summary: The median home sold price in Preston Park was $237,000 in September 2024, up 18.5% from last year, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $170.5K$187K
+9.7%
3 $202.5K$235K
+16.0%
4 $238.9K$260K
+8.8%
5+ $272K$243K
-10.7%

Summary: Preston Park housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes decreased by 10.7%.

Median Sold Price Compared To Nearby Neighborhoods

Preston Park
+18.5%
Williamson Road
+12.5%
Monterey
+12.4%

Housing Supply in Preston Park, VA

How many homes are available in Preston Park, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
23230.0%

Summary: The Preston Park real estate market had 23 homes for sale in September 2024, the same as August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 1614
-12.5%
4 34
+33.3%
5+ 21
-50.0%

Summary: The Preston Park housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Preston Park, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Preston Park in September 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.

Days on Market for Preston Park, VA

We’re sorry, we don't have information for this market at the moment

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

Report Updated 29 Days Ago

Newest Listings in Preston Park, VA

Nearby Markets to Preston Park, VA