Blake and Ali Poore Team
Powhatan, VA
Single-Family Homes
Compass
Powhatan, VA
Tue Jul 05 2022
This week the median list price for Powhatan, VA is $450,000 with the market action index hovering around 63. This is an increase over last month's market action index of 62. Inventory has increased to 49.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.
Real-Time Market Profile
| Median List Price | $450,000 | |
| Median Price of New Listings | $399,950 | |
| Per Square Foot | $209 | |
| Average Days on Market | 55 | |
| Median Days on Market | 21 | |
| Price Decreased | 39% | |
| Price Increased | 8% | |
| Relisted | 10% | |
| Inventory | 49 | |
| Median Rent | ||
| Market Action | 63 | |
| Strong Seller's Market | ||
The price per square foot is increasing a bit recently and overall price trends haven’t shown a consistent upwardly push. This can imply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investment opportunity in the area.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $893,107 | 3,266 | 5 - 10 acres | 4 | 3.3 | 4 | 1 | 0 | 45 |
| $599,975 | 3,043 | 2.5 - 5 acres | 4 | 3.5 | 19 | 3 | 1 | 21 |
| $391,975 | 1,830 | 1 - 2.5 acres | 3 | 2.5 | 32 | 4 | 3 | 7 |
| $284,950 | 1,196 | 1 - 2.5 acres | 3 | 2 | 43 | 5 | 4 | 7 |