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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tappahannock is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Tappahannock was a Seller's Market.

Key Takeaway

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

Housing Prices in Tappahannock, VA

How much do homes in Tappahannock, VA cost?

Median Sold Price

$308,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$28,100(+10.0%)

Key Takeaway

Homes in Tappahannock have sold for 10% more than they did a year ago.

Summary: The median home sold price in Tappahannock was $308,000 in November 2024, up 10% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $132.9K-
N/A
2 $190K$194.4K
+2.4%
3 $279.9K$285K
+1.8%
4 $360K$548.1K
+52.3%
5+ $194.5K$800K
+311.3%

Summary: Tappahannock 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 increased by 2.4%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 52.3%, and 5+ bedroom homes increased by 311.3%.

Housing Supply in Tappahannock, VA

How many homes are available in Tappahannock, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3840+5.3%

Summary: The Tappahannock real estate market had 40 homes for sale in November 2024, a 5.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 2628
+7.7%
4 78
+14.3%
5+ 21
-50.0%

Summary: The Tappahannock 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
94-55.6%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tappahannock, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Tappahannock in November 2024, down by 55.6% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Tappahannock, VA

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

Average Sale Time

Nov 2023Nov 2024CHANGE
17 Days30 Days+76.5%

Summary: Homes in Tappahannock had an average of 30 days on market in Nov 2024, up by 76.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 4 homes were sold in Tappahannock; 75% of homes were sold within 30 days, 25% 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

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