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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wakefield is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Wakefield was a Buyer's Market.

Key Takeaway

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

Housing Prices in Wakefield, VA

How much do homes in Wakefield, VA cost?

Median Sold Price

$399,900

$120/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$255,450(+176.8%)

Key Takeaway

Homes in Wakefield have sold for 176.8% more than they did a month ago.

Summary: The median home sold price in Wakefield was $399,900 in November 2024, up 176.8% from last month, and the median price per square foot was $120.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 --
N/A
3 $144.4K-
N/A
4 -$399.9K
N/A
5+ --
N/A

Summary: Wakefield housing prices by bedroom type for November 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 Wakefield, VA

How many homes are available in Wakefield, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1514-6.7%

Summary: The Wakefield real estate market had 14 homes for sale in November 2024, a 6.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 22
0.0%
3 64
-33.3%
4 55
0.0%
5+ 23
+50.0%

Summary: The Wakefield 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 decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wakefield, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 3 homes were sold or pending in Wakefield in November 2024, up by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Wakefield, VA

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

Average Sale Time

Oct 2024Nov 2024CHANGE
12 Days71 Days+494.4%

Summary: Homes in Wakefield had an average of 71 days on market in Nov 2024, up by 494.4% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 3 homes were sold in Wakefield; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 17 Days Ago

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