Blackstone, VA home prices and housing market

That contrast is the story in Blackstone this June. The typical home is worth about two hundred five thousand dollars, up nearly 9 percent over the past year, so on paper this looks like a strong market. But look closer at what sellers are doing. Nearly 4 in 10 listings, about 38 percent, have already cut their asking price. That tells you a lot of homes came out priced too high for what buyers will pay. The median list price sits at about two hundred fifty-eight thousand dollars, well above the typical value, which is part of the gap. With only 27 homes for sale and just 6 new listings this month, supply is thin, yet homes are still taking about 56 days to sell. So here is the takeaway for a Blackstone homeowner. Rising values give you room, but pricing ahead of the market gets punished. Price close to real value from day one, and you can sell without joining the third of sellers who had to cut.