Is Spotsylvania, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spotsylvania is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Spotsylvania, VA

How much do homes in Spotsylvania, VA cost?

Median Sold Price

$477,857

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$11,857(+2.5%)

Key Takeaway

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

Summary: The median home sold price in Spotsylvania was $477,857 in September 2024, up 2.5% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $210K$250K
+19.0%
2 $292.5K$295K
+0.9%
3 $390K$385K
-1.3%
4 $530K$537.9K
+1.5%
5+ $694.9K$715K
+2.9%

Summary: Spotsylvania housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 2.9%.

Median Sold Price Compared To Nearby Cities

Salem
+12.5%
Berkeley
+8.3%
Livingston
+7.8%
Spotsylvania
+2.5%
Chancellor
+1.9%

Housing Supply in Spotsylvania, VA

How many homes are available in Spotsylvania, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
262265+1.1%

Summary: The Spotsylvania real estate market had 265 homes for sale in September 2024, a 1.1% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 12
+100.0%
2 20
-100.0%
3 7779
+2.6%
4 122124
+1.6%
5+ 6060
0.0%

Summary: The Spotsylvania housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
7179+11.3%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

37 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spotsylvania, expect to pay close to the asking price. 47.4% of homes here sold near the asking price last month.

Summary: A total of 79 homes were sold or pending in Spotsylvania in September 2024, up by 11.3% month-over-month. Of the 78 sold homes, 32% were sold under asking, 47% were sold at asking, and 21% were sold over asking.

Days on Market for Spotsylvania, VA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
24 Days37 Days+52.4%

Summary: Homes in Spotsylvania had an average of 37 days on market in Sep 2024, up by 52.4% compared to last year.

Breakdown of Home Sale Times

44 Homes Were Sold
Under 30 Days

26 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 79 homes were sold in Spotsylvania; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% 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 29 Days Ago

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