The Poore Team
Glen Allen, VA 23059
Single-Family Homes
Compass
Glen Allen, VA 23059
Thu May 16 2024
This week the median list price for Glen Allen, VA 23059 is $765,745 with the market action index hovering around 59. This is an increase over last month's market action index of 57. Inventory has increased to 36.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $765,745 | |
| Median Price of New Listings | $749,475 | |
| Per Square Foot | $256 | |
| Average Days on Market | 68 | |
| Median Days on Market | 18 | |
| Price Decreased | 22% | |
| Price Increased | 3% | |
| Relisted | 11% | |
| Inventory | 36 | |
| Median Rent | ||
| Market Action | 59 | |
| Strong Seller's Market | ||
While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as 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 |
|---|---|---|---|---|---|---|---|---|
| $988,500 | 3,755 | 0.25 - 0.5 acre | 5 | 4 | 5 | 1 | 1 | 21 |
| $799,950 | 3,390 | 0.25 - 0.5 acre | 4 | 3.5 | 20 | 3 | 4 | 56 |
| $697,990 | 2,576 | 0.25 - 0.5 acre | 3 | 2.5 | 1 | 2 | 0 | 21 |
| $559,900 | 2,026 | 8,000 - 10,000 sqft | 4 | 2.5 | 24 | 2 | 3 | 7 |