$359K  
The number of home sales in the 22824 zip code market climbed 20.0% to six homes over the last 30 days, coming close to the 6.7 monthly average for the last 12 months. To put it in perspective, the close-by 22815 zip code registered 15 homes sold in the same period, the most of all surrounding zip codes. The median sales price jumped to $169,500, up from last week's $122,100. The 22824 zip code is still a definite buyer's market, in spite of the uptick in sales, thanks to the availability of 12 months of remaining inventory.
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The 22824 zip code is a zip code in Virginia with a median income of $52,016 per household. Besides being somewhat affluent, its population is younger than others with a median age of 43 years. Detached homes account for 100% of the area's current housing market.
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$359K  
More sellers put their homes up for sale in the 22824 zip code market over the last 30 days and the number of new listings climbed this week to 13. Home sales remained unchanged from the prior period and once again five homes were sold. The median sales price in the 22824 zip code stayed put this week at $122,100. With no movement in sales and the availability of 14 months of inventory, the 22824 zip code is a strong buyer's market.
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$899K  
The number of sellers reducing prices in the 22824 zip code market trended up to 10 over the last 30 days, extending a nine-week streak. During the same period, four sales were completed. All indications show that the trend may be coming to an end, meaning less price reductions over the next few weeks. Prices are falling in the 22824 zip code, and this period the median price of all sales fell from $122,100 to $104,550. Even after the uptick in sales, an elevated 18 months of inventory tells us that the 22824 zip code is still a definite buyer's market.
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$109K  
Over the last 30 days, a new downward trend of new sellers coming into the 22824 zip code market continued, with eight listings in this week's report. Meanwhile, sales fell, with three homes selling during the same period. As new listings trended lower, prices have also been falling. The median sales price dropped to $122,100, extending a four-week long spiral. The 22824 zip code is a solid buyer's market, due to falling prices and a large 25 months of inventory left.
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$471K  
The 22824 zip code market closed in on its 12-month sales average this week as sales climbed 20.0% to reach six homes sold over the last 30 days. Within the same time frame, the 22815 zip code had 21 sales, the most of all zip codes in the area. The median sales price dropped to $142,000, down from last week's $165,000. The 22824 zip code is still a strong buyer's market, in spite of the uptick in sales, thanks to the availability of 12 months of remaining inventory.
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$899K  
Over the last 30 days, the 22824 zip code market had a decrease in home sales with five. Furthermore, the amount of pending transactions continued to decline, with a total of five contracts during the same period. Of course, as contracts trended lower, months of inventory continued to climb, hitting a six-month high at 15 months. The 22824 zip code is still a solid buyer's market, due to the downward trend in contracts numbers and the large amount of inventory.
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With 6,009 residents, 22824 is a larger than average zip code in Virginia. Also, with 71.9 people per square mile, it has an average density in comparison to other parts of the state. With an ownership ratio of 65.1%, most people in the 22824 zip code are homeowners.
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$109K  
The 22824 zip code market pulled back with a 25.0% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 7.1 monthly average with six homes sold. In comparison, the nearby 22815 zip code had 22 sales in the same time frame, the most of all neighboring zip codes. Prices found a bottom with the median sales price falling to $153,500, a three-month low. Along with the falling prices, the relatively large 12 months of inventory means that the 22824 zip code is a definite buyer's market.
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$389K  
The 22824 zip code market was active in this week's report, as the number of home sales rose 14.3%, pushing the total to eight homes sold over the last 30 days. To put it in perspective, the close-by 22815 zip code registered 17 homes sold in the same period, the most of all surrounding zip codes. The median sales price dropped to $182,000 over the latest reporting period for the 22824 zip code, down from $205,000. Despite the uptick in sales, there are still nine months of inventory left to work through, meaning the 22824 zip code is still a strong buyer's market.
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