Is Gainesboro, 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, Gainesboro was a Seller's Market.
Key Takeaway
Gainesboro is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Gainesboro, VA
How much do homes in Gainesboro, VA cost?
Median Sold Price
$429,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gainesboro have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in Gainesboro was $429,000 in May 2024, up 14.4% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $220K | -30.2% |
| 2 Bedrooms | $165K | $340.5K | +106.4% |
| 3 Bedrooms | $339.9K | $385K | +13.3% |
| 4 Bedrooms | $389.9K | $539.9K | +38.4% |
| 5+ Bedrooms | $630K | $500K | -20.6% |
Summary: Gainesboro housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.2%, 2 bedroom homes increased by 106.4%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 38.4%, and 5+ bedroom homes decreased by 20.6%.
Median Sold Price Compared To Nearby Cities
| Gainesboro | $374.9K | $429K | +14.4% |
| Winchester | $349.2K | $375K | +7.4% |
| Cross Junction | $375K | $392.4K | +4.7% |
| Bloomery | $238.5K | $228.5K | -4.2% |
Housing Supply in Gainesboro, VA
How many homes are available in Gainesboro, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 69 | 75 | +8.7% |
Summary: The Gainesboro real estate market had 75 homes for sale in May 2024, a 8.7% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 35 | 40 | +14.3% |
| 4 Bedrooms | 27 | 26 | -3.7% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Gainesboro 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 14.3%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gainesboro, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Gainesboro in May 2024, down by 45.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Gainesboro, VA
How long does it take to sell a home in Gainesboro, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 25 Days | +4.2% |
Summary: Homes in Gainesboro had an average of 25 days on market in May 2024, up by 4.2% compared to last year.
Breakdown of Home Sale Times
5 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 Gainesboro are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Gainesboro; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
