Is Blue Ridge, 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, Blue Ridge was a Seller's Market.
Housing Prices in Blue Ridge, VA
How much do homes in Blue Ridge, VA cost?
Median Sold Price
$786,250
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Blue Ridge was $786,250 in May 2024, up 6.5% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $126K | $1.0M | +694.8% |
2 Bedrooms | $512.5K | $479.9K | -6.4% |
3 Bedrooms | $522.4K | $622.5K | +19.2% |
4 Bedrooms | $775K | $810K | +4.5% |
5+ Bedrooms | $1.0M | $1.0M | +8.2% |
Summary: Blue Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 694.8%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
Bluemont | $477.5K | $629K | +31.7% |
Blue Ridge | $738.5K | $786.2K | +6.5% |
Purcellville | $740K | $776K | +4.9% |
Round Hill | $870K | $750K | -13.8% |
Housing Supply in Blue Ridge, VA
How many homes are available in Blue Ridge, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
152 | 187 | +23.0% |
Summary: The Blue Ridge real estate market had 187 homes for sale in May 2024, a 23.0% 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 | 8 | 11 | +37.5% |
3 Bedrooms | 31 | 38 | +22.6% |
4 Bedrooms | 67 | 75 | +11.9% |
5+ Bedrooms | 45 | 62 | +37.8% |
Summary: The Blue Ridge 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 37.5%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 37.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 29 | -9.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Blue Ridge in May 2024, down by 9.4% month-over-month. Of the 29 sold homes, 34% were sold under asking, 24% were sold at asking, and 41% were sold over asking.
Days on Market for Blue Ridge, VA
How long does it take to sell a home in Blue Ridge, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
25 Days | 12 Days | -52.3% |
Summary: Homes in Blue Ridge had an average of 12 days on market in May 2024, down by 52.3% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 29 homes were sold in Blue Ridge; 76% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.