Is Fork Union, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Fork Union has remained a Seller's Market.
Key Takeaway
Fork Union is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fork Union, VA
How much do homes in Fork Union, VA cost?
Median Sold Price
$312,000
$180/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Fork Union have sold for 16.1% less than they did a month ago.
Summary: The median home sold price in Fork Union was $312,000 in May 2024, down 16.1% from last month, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $379.7K | $312K | -17.8% |
| 4 Bedrooms | $344.5K | - | N/A |
| 5+ Bedrooms | $485K | - | N/A |
Summary: Fork Union housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 17.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cunningham | $475K | $507.1K | +6.8% |
| Arvonia | $283.5K | $250.7K | -11.6% |
| Columbia | $350K | $309K | -11.7% |
| Fork Union | $371.9K | $312K | -16.1% |
Housing Supply in Fork Union, VA
How many homes are available in Fork Union, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Summary: The Fork Union real estate market had 21 homes for sale in May 2024, a 4.5% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Fork Union 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Fork Union, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Fork Union in May 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Fork Union, VA
How long does it take to sell a home in Fork Union, VA?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 63 Days | +262.9% |
Summary: Homes in Fork Union had an average of 63 days on market in May 2024, up by 262.9% compared to last month.
Breakdown of Home Sale Times
3 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 Fork Union are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Fork Union; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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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.