Is Cedar Run, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cedar Run has remained a Seller's Market.
Housing Prices in Cedar Run, VA
How much do homes in Cedar Run, VA cost?
Median Sold Price
$590,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cedar Run was $590,000 in May 2024, up 7.3% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $259.4K | - | N/A |
2 Bedrooms | $542K | $376K | -30.6% |
3 Bedrooms | $475K | $499.9K | +5.2% |
4 Bedrooms | $586.2K | $682.5K | +16.4% |
5+ Bedrooms | $725K | $749.9K | +3.4% |
Summary: Cedar Run housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.6%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 3.4%.
Housing Supply in Cedar Run, VA
How many homes are available in Cedar Run, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 74 | +19.4% |
Summary: The Cedar Run real estate market had 74 homes for sale in May 2024, a 19.4% 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 | 5 | 3 | -40.0% |
3 Bedrooms | 20 | 26 | +30.0% |
4 Bedrooms | 24 | 31 | +29.2% |
5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Cedar Run 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 40%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 22 | +144.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Cedar Run in May 2024, up by 144.4% month-over-month. Of the 22 sold homes, 32% were sold under asking, 5% were sold at asking, and 64% were sold over asking.
Days on Market for Cedar Run, VA
How long does it take to sell a home in Cedar Run, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 20 Days | +6.3% |
Summary: Homes in Cedar Run had an average of 20 days on market in May 2024, up by 6.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Cedar Run; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.