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 neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Westmoreland County 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 Westmoreland County, VA

How much do homes in Westmoreland County, VA cost?

Median Sold Price

$325,000

$227/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$26,000(+8.7%)

Key Takeaway

Homes in Westmoreland County have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Westmoreland County was $325,000 in November 2024, up 8.7% from last year, and the median price per square foot was $227.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $230K$237.5K
+3.3%
2 $250K$280K
+12.0%
3 $295K$319.9K
+8.4%
4 $384.2K$407.5K
+6.0%
5+ $485.5K$753K
+55.1%

Summary: Westmoreland County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 55.1%.

Median Sold Price Compared To Nearby Counties

Essex County
+11.5%
Richmond County
+8.8%
Westmoreland County
+8.7%
King George County
+7.2%
Saint Mary's County
+5.7%

Housing Supply in Westmoreland County, VA

How many homes are available in Westmoreland County, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
192183-4.7%

Summary: The Westmoreland County real estate market had 183 homes for sale in November 2024, a 4.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 119
-18.2%
3 142140
-1.4%
4 3026
-13.3%
5+ 87
-12.5%

Summary: The Westmoreland County 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 decreased by 18.2%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4028-30.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westmoreland County, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.

Summary: A total of 28 homes were sold or pending in Westmoreland County in November 2024, down by 30.0% month-over-month. Of the 28 sold homes, 21% were sold under asking, 57% were sold at asking, and 21% 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

Nov 2023Nov 2024CHANGE
44 Days50 Days+13.6%

Summary: Homes in Westmoreland County had an average of 50 days on market in Nov 2024, up by 13.6% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

4 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 November 2024, 28 homes were sold in Westmoreland County; 64% of homes were sold within 30 days, 21% 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 17 Days Ago

Newest Listings in Westmoreland County, VA

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