Is Westmoreland County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westmoreland County is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Westmoreland County, VA

How much do homes in Westmoreland County, VA cost?

Median Sold Price

$320,000

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$22,600(+7.6%)

Key Takeaway

Homes in Westmoreland County have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Westmoreland County was $320,000 in October 2024, up 7.6% from last year, and the median price per square foot was $222.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $230K$237.5K
+3.3%
2 $242K$270.5K
+11.8%
3 $291.3K$315K
+8.1%
4 $387.5K$399.4K
+3.1%
5+ $457.5K$629.5K
+37.6%

Summary: Westmoreland County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 37.6%.

Median Sold Price Compared To Nearby Counties

Essex County
+11.6%
Westmoreland County
+7.6%
Richmond County
+7.2%
King George County
+7.0%
Saint Mary's County
+5.1%

Housing Supply in Westmoreland County, VA

How many homes are available in Westmoreland County, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
202209+3.5%

Summary: The Westmoreland County real estate market had 209 homes for sale in October 2024, a 3.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 1411
-21.4%
3 145155
+6.9%
4 3533
-5.7%
5+ 78
+14.3%

Summary: The Westmoreland County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4837-22.9%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westmoreland County, you may be able to get a good deal. 40.5% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Westmoreland County in October 2024, down by 22.9% month-over-month. Of the 37 sold homes, 41% were sold under asking, 35% were sold at asking, and 24% were sold over asking.

Days on Market for Westmoreland County, VA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days49 Days+57.5%

Summary: Homes in Westmoreland County had an average of 49 days on market in Oct 2024, up by 57.5% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 37 homes were sold in Westmoreland County; 54% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 14% 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 14 Days Ago

Newest Listings in Westmoreland County, VA

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