The Poore Team
Glen Allen, VA
Single-Family Homes
Compass
Glen Allen, VA
Sat Dec 21 2024
This week the median list price for Glen Allen, VA is $550,000 with the market action index hovering around 48. This is less than last month's market action index of 52. Inventory has increased to 63.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $550,000 | |
| Median Price of New Listings | $534,975 | |
| Per Square Foot | $234 | |
| Average Days on Market | 80 | |
| Median Days on Market | 49 | |
| Price Decreased | 49% | |
| Price Increased | 5% | |
| Relisted | 11% | |
| Inventory | 63 | |
| Median Rent | ||
| Market Action | 48 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. 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 |
|---|---|---|---|---|---|---|---|---|
| $825,000 | 3,755 | 0.25 - 0.5 acre | 5 | 3.5 | 15 | 1 | 2 | 56 |
| $622,470 | 2,730 | 0.25 - 0.5 acre | 4 | 2.8 | 9 | 0 | 0 | 73 |
| $522,144 | 2,281 | 0.25 - 0.5 acre | 4 | 2.5 | 22 | 3 | 1 | 31 |
| $387,500 | 1,491 | 8,000 - 10,000 sqft | 3 | 2 | 35 | 2 | 1 | 45 |