$7,124 Closing Credit*
$599,900
1,540 SqFt
3 Beds
•2 Full Baths
Christopher Morrison, Listing Office: RE/MAX Real Estate Connections
Is Wakefield, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Wakefield was a Buyer's Market.
Key Takeaway
Wakefield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Wakefield, VA
How much do homes in Wakefield, VA cost?
Median Sold Price
$525,000
$271/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$79,550(+17.9%)
Key Takeaway
Homes in Wakefield have sold for 17.9% more than they did a month ago.
Summary: The median home sold price in Wakefield was $525,000 in October 2024, up 17.9% from last month, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $478.9K | $445K | -7.1% |
| 4 Bedrooms | $412K | $730K | +77.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: Wakefield housing prices by bedroom type for October 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 decreased by 7.1%, 4 bedroom homes increased by 77.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Flint Hill | $412K | $730K | +77.2% |
| Wakefield | $445.4K | $525K | +17.9% |
| Chester Gap | $364.4K | $365K | 0.2% |
Housing Supply in Wakefield, VA
How many homes are available in Wakefield, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 31 | +14.8% |
Summary: The Wakefield real estate market had 31 homes for sale in October 2024, a 14.8% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Wakefield 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 100%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wakefield, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Wakefield in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 9 Days | -62.1% |
Summary: Homes in Wakefield had an average of 9 days on market in Oct 2024, down by 62.1% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wakefield are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Wakefield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
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