Is Manakin Sabot, 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, Manakin Sabot was a Seller's Market.
Key Takeaway
Manakin Sabot is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Manakin Sabot, VA
How much do homes in Manakin Sabot, VA cost?
Median Sold Price
$800,246
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manakin Sabot have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Manakin Sabot was $800,246 in May 2024, up 8.1% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $599.9K | $450K | -25.0% |
| 3 Bedrooms | $582.9K | $644.9K | +10.6% |
| 4 Bedrooms | $838.5K | $816K | -2.7% |
| 5+ Bedrooms | $930K | $1.3M | +49.9% |
Summary: Manakin Sabot 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 25%, 3 bedroom homes increased by 10.6%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 49.9%.
Median Sold Price Compared To Nearby Cities
| Rockville | $542.5K | $624.9K | +15.2% |
| South Anna | $457.6K | $505.2K | +10.4% |
| Manakin Sabot | $740.2K | $800.2K | +8.1% |
Housing Supply in Manakin Sabot, VA
How many homes are available in Manakin Sabot, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 42 | +23.5% |
Summary: The Manakin Sabot real estate market had 42 homes for sale in May 2024, a 23.5% increase 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 | 1 | +100.0% |
| 3 Bedrooms | 10 | 15 | +50.0% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Manakin Sabot 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 100%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Manakin Sabot, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Manakin Sabot in May 2024, down by 33.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Manakin Sabot, VA
How long does it take to sell a home in Manakin Sabot, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 17 Days | +146.1% |
Summary: Homes in Manakin Sabot had an average of 17 days on market in May 2024, up by 146.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manakin Sabot are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Manakin Sabot; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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