Is Providence Forge, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Providence Forge is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Providence Forge has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Providence Forge, VA

How much do homes in Providence Forge, VA cost?

Median Sold Price

$551,000

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,500(+2.5%)

Key Takeaway

Homes in Providence Forge have sold for 2.5% more than they did a year ago.

Summary: The median home sold price in Providence Forge was $551,000 in November 2024, up 2.5% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $281K$221.7K
-21.1%
3 $402.5K$390K
-3.1%
4 $575K$595.8K
+3.6%
5+ $590K$659.8K
+11.8%

Summary: Providence Forge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 21.1%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 11.8%.

Median Sold Price Compared To Nearby Cities

New Kent
+6.6%
Charles City
+6.3%
Lanexa
+6.0%
Providence Forge
+2.5%

Housing Supply in Providence Forge, VA

How many homes are available in Providence Forge, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6861-10.3%

Summary: The Providence Forge real estate market had 61 homes for sale in November 2024, a 10.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 2518
-28.0%
4 2830
+7.1%
5+ 1413
-7.1%

Summary: The Providence Forge housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 28%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 7.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
188-55.6%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Providence Forge, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Providence Forge in November 2024, down by 55.6% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Providence Forge, VA

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

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days51 Days+91.8%

Summary: Homes in Providence Forge had an average of 51 days on market in Nov 2024, up by 91.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Providence Forge has remained consistent over time.

Summary: During November 2024, 8 homes were sold in Providence Forge; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% 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 20 Days Ago

Newest Listings in Providence Forge, VA

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