Is Bermuda, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Bermuda has remained a Seller's Market.
Housing Prices in Bermuda, VA
How much do homes in Bermuda, VA cost?
Median Sold Price
$350,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Bermuda was $350,000 in April 2024, up 2.9% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $370K | N/A |
2 Bedrooms | $267.5K | $215K | -19.6% |
3 Bedrooms | $299.5K | $320K | +6.8% |
4 Bedrooms | $375K | $390K | +4.0% |
5+ Bedrooms | $485K | $484.9K | 0% |
Summary: Bermuda housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.6%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Hopewell | $192K | $225K | +17.2% |
Colonial Heights | $250.6K | $271.1K | +8.2% |
Varina | $273.1K | $290K | +6.2% |
Bermuda | $340K | $350K | +2.9% |
Chester | $351.1K | $359.9K | +2.5% |
Housing Supply in Bermuda, VA
How many homes are available in Bermuda, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
244 | 258 | +5.7% |
Summary: The Bermuda real estate market had 258 homes for sale in April 2024, a 5.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 9 | 11 | +22.2% |
3 Bedrooms | 101 | 98 | -3.0% |
4 Bedrooms | 87 | 93 | +6.9% |
5+ Bedrooms | 45 | 54 | +20.0% |
Summary: The Bermuda housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes decreased by 3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
70 | 65 | -7.1% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 65 homes were sold or pending in Bermuda in April 2024, down by 7.1% month-over-month. Of the 63 sold homes, 21% were sold under asking, 33% were sold at asking, and 46% were sold over asking.
Days on Market for Bermuda, VA
How long does it take to sell a home in Bermuda, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 18 Days | -23.2% |
Summary: Homes in Bermuda had an average of 18 days on market in Apr 2024, down by 23.2% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 65 homes were sold in Bermuda; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.