Is Broad Run, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Broad Run has remained a Seller's Market.
Key Takeaway
Broad Run is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Broad Run, VA
How much do homes in Broad Run, VA cost?
Median Sold Price
$667,608
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Broad Run have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Broad Run was $667,608 in April 2024, up 5.3% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259K | $290K | +12.0% |
| 2 Bedrooms | $417.5K | $430.7K | +3.2% |
| 3 Bedrooms | $600K | $655K | +9.2% |
| 4 Bedrooms | $850.5K | $850K | -0.1% |
| 5+ Bedrooms | $930K | $1.1M | +18.3% |
Summary: Broad Run housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 9.2%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 18.3%.
Housing Supply in Broad Run, VA
How many homes are available in Broad Run, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 153 | 196 | +28.1% |
Summary: The Broad Run real estate market had 196 homes for sale in April 2024, a 28.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 56 | 60 | +7.1% |
| 3 Bedrooms | 36 | 54 | +50.0% |
| 4 Bedrooms | 41 | 54 | +31.7% |
| 5+ Bedrooms | 17 | 24 | +41.2% |
Summary: The Broad Run housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 31.7%, and 5+ bedroom homes increased by 41.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 67 | +19.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Broad Run, you could pay more than the asking price. 53.7% of homes here sold above asking price last month.
Summary: A total of 67 homes were sold or pending in Broad Run in April 2024, up by 19.6% month-over-month. Of the 67 sold homes, 15% were sold under asking, 31% were sold at asking, and 54% were sold over asking.
Days on Market for Broad Run, VA
How long does it take to sell a home in Broad Run, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 14 Days | -32.8% |
Summary: Homes in Broad Run had an average of 14 days on market in Apr 2024, down by 32.8% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Broad Run are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 67 homes were sold in Broad Run; 85% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
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.