Is Tappahannock, 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, Tappahannock has remained a Seller's Market.
Key Takeaway
Tappahannock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tappahannock, VA
How much do homes in Tappahannock, VA cost?
Median Sold Price
$297,450
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tappahannock have sold for 16.6% more than they did a year ago.
Summary: The median home sold price in Tappahannock was $297,450 in May 2024, up 16.6% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220.5K | $115.8K | -47.5% |
| 2 Bedrooms | $180K | $190K | +5.6% |
| 3 Bedrooms | $252K | $279.9K | +11.1% |
| 4 Bedrooms | $364.5K | $379.9K | +4.2% |
| 5+ Bedrooms | $600K | $675K | +12.5% |
Summary: Tappahannock housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.5%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Central | $255K | $308K | +20.8% |
| Tappahannock | $255K | $297.4K | +16.6% |
Housing Supply in Tappahannock, VA
How many homes are available in Tappahannock, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 39 | +8.3% |
Summary: The Tappahannock real estate market had 39 homes for sale in May 2024, a 8.3% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 21 | 26 | +23.8% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Tappahannock 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 33.3%, 3 bedroom homes increased by 23.8%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Tappahannock, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in Tappahannock in May 2024, up by 66.7% month-over-month. Of the 10 sold homes, 40% were sold under asking, 50% were sold at asking, and 10% were sold over asking.
Days on Market for Tappahannock, VA
How long does it take to sell a home in Tappahannock, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 74 Days | +308.4% |
Summary: Homes in Tappahannock had an average of 74 days on market in May 2024, up by 308.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tappahannock are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Tappahannock; 50% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved