Is Smithfield, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Smithfield was a Seller's Market.
Housing Prices in Smithfield, VA
How much do homes in Smithfield, VA cost?
Median Sold Price
$235,000
$277/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Smithfield was $235,000 in May 2024, down 60% from last month, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | - | $235K | N/A |
4 Bedrooms | $587.1K | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Smithfield housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Smithfield, VA
How many homes are available in Smithfield, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
167 | 182 | +9.0% |
Summary: The Smithfield real estate market had 182 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 79 | 80 | +1.3% |
4 Bedrooms | 66 | 74 | +12.1% |
5+ Bedrooms | 17 | 23 | +35.3% |
Summary: The Smithfield 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 remained the same, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 30 | +3.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Smithfield in May 2024, up by 3.4% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Smithfield, VA
How long does it take to sell a home in Smithfield, VA?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 Days | 35 Days | +22.9% |
Summary: Homes in Smithfield had an average of 35 days on market in May 2024, up by 22.9% compared to last month.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 30 homes were sold in Smithfield; 63% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.