The Poore Team
Powhatan, VA
Single-Family Homes
Compass
Powhatan, VA
Thu May 16 2024
This week the median list price for Powhatan, VA is $650,000 with the market action index hovering around 52. This is an increase over last month's market action index of 49. Inventory has increased to 43.
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 | $650,000 | |
| Median Price of New Listings | $559,380 | |
| Per Square Foot | $251 | |
| Average Days on Market | 91 | |
| Median Days on Market | 21 | |
| Price Decreased | 21% | |
| Price Increased | 0% | |
| Relisted | 12% | |
| Inventory | 43 | |
| Median Rent | ||
| Market Action | 52 | |
| Strong Seller's Market | ||
Though this week saw relatively little price change from last week, the market seems to be show some signs of strength. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $871,950 | 3,248 | 2.5 - 5 acres | 4 | 3.5 | 1 | 1 | 1 | 31 |
| $749,950 | 3,100 | 2.5 - 5 acres | 4 | 3.5 | 17 | 2 | 2 | 42 |
| $539,000 | 2,372 | 2.5 - 5 acres | 4 | 2.5 | 0 | 2 | 3 | 21 |
| $374,950 | 1,512 | 1 - 2.5 acres | 3 | 2 | 25 | 4 | 3 | 7 |