$7,303 Closing Credit*
$615,000
2,344 SqFt
4 Beds
•3 Full Baths, 1 Partial
Manish Arora, Listing Office: Samson Properties
Is South Riding, 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, South Riding has remained a Seller's Market.
Key Takeaway
South Riding is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Riding, VA
How much do homes in South Riding, VA cost?
Median Sold Price
$745,000
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$75,000(+11.2%)
Key Takeaway
Homes in South Riding have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in South Riding was $745,000 in October 2024, up 11.2% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $420.5K | $451.2K | +7.3% |
| 3 Bedrooms | $599.4K | $642.5K | +7.2% |
| 4 Bedrooms | $827.5K | $920K | +11.2% |
| 5+ Bedrooms | $996.3K | $1.1M | +15.4% |
Summary: South Riding housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 15.4%.
Housing Supply in South Riding, VA
How many homes are available in South Riding, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 61 | +24.5% |
Summary: The South Riding real estate market had 61 homes for sale in October 2024, a 24.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 25 | 28 | +12.0% |
| 4 Bedrooms | 14 | 21 | +50.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The South Riding 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 increased by 66.7%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 15 | -21.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Riding, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in South Riding in October 2024, down by 21.1% month-over-month. Of the 15 sold homes, 40% were sold under asking, 27% were sold at asking, and 33% were sold over asking.
Days on Market for South Riding, VA
How long does it take to sell a home in South Riding, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 20 Days | +66.6% |
Summary: Homes in South Riding had an average of 20 days on market in Oct 2024, up by 66.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Riding are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in South Riding; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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