Is Shenandoah, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Shenandoah was a Seller's Market.
Key Takeaway
Shenandoah is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Shenandoah, VA
How much do homes in Shenandoah, VA cost?
Median Sold Price
$351,500
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Shenandoah have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Shenandoah was $351,500 in May 2024, up 7.2% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.2K | $175K | +49.3% |
| 2 Bedrooms | $250K | $220K | -12.0% |
| 3 Bedrooms | $349.9K | $370K | +5.7% |
| 4 Bedrooms | $405K | $375K | -7.4% |
| 5+ Bedrooms | $237K | $660K | +178.5% |
Summary: Shenandoah housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.3%, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 178.5%.
Median Sold Price Compared To Nearby Cities
| Front Royal | $319.9K | $372.8K | +16.5% |
| Happy Creek | $344K | $400K | +16.3% |
| Linden | $348K | $400K | +14.9% |
| Shenandoah | $328K | $351.5K | +7.2% |
| North River | $332.4K | $341.4K | +2.7% |
Housing Supply in Shenandoah, VA
How many homes are available in Shenandoah, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 85 | +6.3% |
Summary: The Shenandoah real estate market had 85 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 46 | 51 | +10.9% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Shenandoah 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 increased by 12.5%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 11 | -45.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shenandoah, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in Shenandoah in May 2024, down by 45.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 45% were sold at asking, and 36% were sold over asking.
Days on Market for Shenandoah, VA
How long does it take to sell a home in Shenandoah, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 20 Days | -49.2% |
Summary: Homes in Shenandoah had an average of 20 days on market in May 2024, down by 49.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Shenandoah are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Shenandoah; 91% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% 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.