Have you been considering buying property in Bedford County, VA? Perhaps you are a homeowner who would like to sell a home somewhere in the county. Before you get started, let’s first look at information about the current state of the market in the county. This includes information from May, the latest info that’s available.
What Are the Market Conditions?
Currently, it is considered to be a seller’s market in Bedford County. A lot of people are looking to buy homes in this county because it has so much to offer. The number of buyers outweighs the number of properties currently available. This means that the buyers may have to compete with other buyers to get the homes they want. Of course, this can be good news for sellers—prices are higher, and the homes tend to sell faster.
What’s happening with the prices? The current median sold price of a home in the county is $326,657 ($154 per square foot). This is an increase of 9.6% from last year’s prices for homes in the area.
You will find that for most types and sizes of properties, the median sold price has gone up. The only outlier is with two-bedroom properties, which are down 7.4% from last year. When compared with other counties in the area, the price differences tend to be about the same.
Potential Good News for Buyers
In April of 2022, there were 354 homes available in the county. That number jumped to 489 by May, for an increase of 38.1%. This means that with more properties for sale, it could start to slowly swing the market pendulum back to neutral. There are also some fantastic new construction properties in the area with more becoming available. It should be possible to find a home that could work perfectly for your needs.
Why Consider Bedford County?
You will find that there are quite a few things to like about Bedford County. A lot of the communities in the area have relatively small populations, which provides a small town feel that many people want in a home. The county has a reasonable cost of living and low crime rates. You will also find some beautiful places that you could call home.
Of course, the area is growing, which means more and more people are coming to the area and are hoping to make it their home. There are still some fantastic out-of-the-way spots, though.
Contact The Realty Group Team to help you buy or sell a home in Bedford County. We have years of experience in the Bedford County real estate market!