Is Jefferson, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Jefferson is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Jefferson has remained a Seller's Market.

Key Takeaway

Jefferson is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Jefferson, VA

How much do homes in Jefferson, VA cost?

Median Sold Price

$417,000

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$8,000(-1.9%)

Key Takeaway

Homes in Jefferson have sold for 1.9% less than they did a year ago.

Summary: The median home sold price in Jefferson was $417,000 in May 2024, down 1.9% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $175K$149.9K
-14.3%
2 $230K$250K
+8.7%
3 $367.5K$364K
-1.0%
4 $499K$499.9K
0.2%
5+ $585K$610K
+4.3%

Summary: Jefferson housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 8.7%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 4.3%.

Median Sold Price Compared To Nearby Cities

Goode
+18.1%
Timberlake
+3.6%
Jefferson
-1.9%
Forest
-3.7%

Housing Supply in Jefferson, VA

How many homes are available in Jefferson, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
90165+83.3%

Summary: The Jefferson real estate market had 165 homes for sale in May 2024, a 83.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1315
+15.4%
3 3252
+62.5%
4 2264
+190.9%
5+ 2233
+50.0%

Summary: The Jefferson 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 increased by 15.4%, 3 bedroom homes increased by 62.5%, 4 bedroom homes increased by 190.9%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3335+6.1%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Jefferson, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in Jefferson in May 2024, up by 6.1% month-over-month. Of the 35 sold homes, 43% were sold under asking, 23% were sold at asking, and 34% were sold over asking.

Days on Market for Jefferson, VA

How long does it take to sell a home in Jefferson, VA?

Average Sale Time

May 2023May 2024CHANGE
17 Days38 Days+118.8%

Summary: Homes in Jefferson had an average of 38 days on market in May 2024, up by 118.8% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Jefferson are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 35 homes were sold in Jefferson; 54% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Jefferson, VA

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