Is Petsworth, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Petsworth is a buyer's market

Buyer's
Market

Difference Since April 2023

Since last year, Petsworth has remained a Buyer's Market.

Key Takeaway

Petsworth is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Petsworth, VA

How much do homes in Petsworth, VA cost?

Median Sold Price

$326,250

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$31,300(+10.6%)

Key Takeaway

Homes in Petsworth have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Petsworth was $326,250 in April 2024, up 10.6% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $206.2K$236.5K
+14.7%
2 $287.3K$277K
-3.6%
3 $285K$329K
+15.4%
4 $505K$454.5K
-10.0%
5+ -$605K
N/A

Summary: Petsworth housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.7%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Buena Vista
+46.6%
Petsworth
+10.6%
Gloucester
+3.0%
Ware
+2.4%
Saluda
-3.8%

Housing Supply in Petsworth, VA

How many homes are available in Petsworth, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
7185+19.7%

Summary: The Petsworth real estate market had 85 homes for sale in April 2024, a 19.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 44
0.0%
2 1119
+72.7%
3 3843
+13.2%
4 89
+12.5%
5+ 1010
0.0%

Summary: The Petsworth housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 72.7%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
87-12.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Petsworth, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Petsworth in April 2024, down by 12.5% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Petsworth, VA

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

Average Sale Time

Apr 2023Apr 2024CHANGE
62 Days67 Days+8.1%

Summary: Homes in Petsworth had an average of 67 days on market in Apr 2024, up by 8.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 7 homes were sold in Petsworth; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% 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 19 Days Ago

Newest Listings in Petsworth, VA

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