Is Weems, 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, Weems was a Neutral Market.
Key Takeaway
Weems is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Weems, VA
How much do homes in Weems, VA cost?
Median Sold Price
$577,750
$204/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Weems have sold for 26.6% less than they did a month ago.
Summary: The median home sold price in Weems was $577,750 in May 2024, down 26.6% from last month, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.2M | - | N/A |
| 3 Bedrooms | $325K | $577.7K | +77.8% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Weems housing prices by bedroom type for May 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 increased by 77.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Weems, VA
How many homes are available in Weems, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Summary: The Weems real estate market had 16 homes for sale in May 2024, a 14.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Weems housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Weems, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Weems in May 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Weems, VA
How long does it take to sell a home in Weems, VA?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 24 Days | -34.2% |
Summary: Homes in Weems had an average of 24 days on market in May 2024, down by 34.2% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Weems are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Weems; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved