The Poore Team
Glen Allen, VA 23059
Single-Family Homes
Compass
Glen Allen, VA 23059
Sat Dec 21 2024
This week the median list price for Glen Allen, VA 23059 is $674,950 with the market action index hovering around 47. This is less than last month's market action index of 48. Inventory has decreased to 29.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $674,950 | |
| Median Price of New Listings | $775,000 | |
| Per Square Foot | $225 | |
| Average Days on Market | 101 | |
| Median Days on Market | 56 | |
| Price Decreased | 55% | |
| Price Increased | 3% | |
| Relisted | 14% | |
| Inventory | 29 | |
| Median Rent | ||
| Market Action | 47 | |
| Strong Seller's Market | ||
Again this week in this zip code we see a downward notch for prices. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $997,770 | 3,945 | 0.25 - 0.5 acre | 5 | 4 | 15 | 0 | 1 | 112 |
| $775,000 | 3,686 | 0.25 - 0.5 acre | 5 | 3.5 | 18 | 1 | 0 | 98 |
| $639,950 | 2,731 | 0.25 - 0.5 acre | 4 | 2.5 | 10 | 0 | 0 | 98 |
| $498,000 | 2,162 | 0.5 - 1 acre | 3 | 2.8 | 27 | 0 | 1 | 56 |