Is Rio, 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, Rio has remained a Seller's Market.
Housing Prices in Rio, VA
How much do homes in Rio, VA cost?
Median Sold Price
$452,362
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rio was $452,362 in May 2024, up 0.4% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $195K | N/A |
2 Bedrooms | $310K | $308.2K | -0.6% |
3 Bedrooms | $400K | $409.7K | +2.4% |
4 Bedrooms | $510K | $629.5K | +23.4% |
5+ Bedrooms | $772.5K | $734.5K | -4.9% |
Summary: Rio housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 23.4%, and 5+ bedroom homes decreased by 4.9%.
Median Sold Price Compared To Nearby Cities
Earlysville | $520K | $650K | +25.0% |
Rivanna | $485K | $540.3K | +11.4% |
Charlottesville | $467K | $512K | +9.6% |
Rio | $450.5K | $452.3K | 0.4% |
Jack Jouett | $500K | $415K | -17.0% |
Housing Supply in Rio, VA
How many homes are available in Rio, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
98 | 95 | -3.1% |
Summary: The Rio real estate market had 95 homes for sale in May 2024, a 3.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 47 | 50 | +6.4% |
4 Bedrooms | 31 | 27 | -12.9% |
5+ Bedrooms | 14 | 10 | -28.6% |
Summary: The Rio housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 30 | -3.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Rio in May 2024, down by 3.2% month-over-month. Of the 30 sold homes, 23% were sold under asking, 37% were sold at asking, and 40% were sold over asking.
Days on Market for Rio, VA
How long does it take to sell a home in Rio, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 13 Days | -11.3% |
Summary: Homes in Rio had an average of 13 days on market in May 2024, down by 11.3% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 30 homes were sold in Rio; 90% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.