Is South Side, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Side is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, South Side has remained a Seller's Market.

Key Takeaway

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

Housing Prices in South Side, VA

How much do homes in South Side, VA cost?

Median Sold Price

$324,495

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$35,986(+12.5%)

Key Takeaway

Homes in South Side have sold for 12.5% more than they did a year ago.

Summary: The median home sold price in South Side was $324,495 in December 2024, up 12.5% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $243.2K$259.8K
+6.8%
2 $220.2K$230.4K
+4.6%
3 $280.9K$324.1K
+15.4%
4 $373K$426K
+14.2%
5+ $562.5K$548.3K
-2.5%

Summary: South Side housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes decreased by 2.5%.

Housing Supply in South Side, VA

How many homes are available in South Side, VA?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
302295-2.3%

Summary: The South Side real estate market had 295 homes for sale in December 2024, a 2.3% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 43
-25.0%
2 5154
+5.9%
3 169158
-6.5%
4 6564
-1.5%
5+ 1316
+23.1%

Summary: The South Side housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 23.1%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
6783+23.9%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Side, you may be able to get a good deal. 50.6% of homes here sold below asking price last month.

Summary: A total of 83 homes were sold or pending in South Side in December 2024, up by 23.9% month-over-month. Of the 83 sold homes, 51% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for South Side, VA

How long does it take to sell a home in South Side, VA?

Average Sale Time

Dec 2023Dec 2024CHANGE
19 Days38 Days+94.7%

Summary: Homes in South Side had an average of 38 days on market in Dec 2024, up by 94.7% compared to last year.

Breakdown of Home Sale Times

49 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Side are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 83 homes were sold in South Side; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% 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 4 Days Ago

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