The Poore Team
Glen Allen, VA
Single-Family Homes
Compass
Glen Allen, VA
Wed Apr 24 2024
This week the median list price for Glen Allen, VA is $740,490 with the market action index hovering around 62. This is less than last month's market action index of 64. Inventory has increased to 40.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Real-Time Market Profile
| Median List Price | $740,490 | |
| Median Price of New Listings | $674,950 | |
| Per Square Foot | $229 | |
| Average Days on Market | 51 | |
| Median Days on Market | 11 | |
| Price Decreased | 30% | |
| Price Increased | 5% | |
| Relisted | 5% | |
| Inventory | 40 | |
| Median Rent | ||
| Market Action | 62 | |
| Strong Seller's Market | ||
Prices are climbing and we’re nearing the market’s all time high. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $964,500 | 4,081 | 0.5 - 1 acre | 5 | 4.5 | 11 | 6 | 1 | 0 |
| $796,225 | 3,160 | 0.25 - 0.5 acre | 3 | 3.3 | 2 | 2 | 0 | 42 |
| $632,655 | 2,656 | 8,000 - 10,000 sqft | 3 | 2.5 | 1 | 2 | 1 | 28 |
| $387,500 | 1,682 | 0.25 - 0.5 acre | 3 | 2.5 | 38 | 6 | 3 | 3 |