23089 Housing Market Report February 2025•New Kent County, Virginia

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Housing Prices in 23089, VA

How much do homes in 23089, VA cost?

Housing Market Conditions

Is 23089, VA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

23089 is a Neutral Market

Difference Since February 2024

Since last year, 23089 has remained a Neutral Market.

Insight

23089 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$445,000$245/SqFt
+$45,056
+11.3%

Based on all homes sold in the last 12 months

Insight

Homes in 23089 have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in 23089 was $445,000 in February 2025, up 11.3% from last year, and the median price per square foot was $245.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
23168
+12.3%
23089
+11.3%
23140
-5.9%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$66K$225K
+240.9%
2$249.9K$70K
-72.0%
3$399.9K$399.7K
0.0%
4$564.9K$725K
+28.3%
5$945K$811.7K
-14.1%

Summary: 23089 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +240.9%. The home price for 2 bedroom homes decreased by -72.0%. The home price for 3 bedroom homes decreased by 0.0%. The home price for 4 bedroom homes increased by +28.3%. The home price for 5 bedroom homes decreased by -14.1%.

Housing supply in 23089, VA

How many homes are available in 23089, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
21Last MonthFeb 2025
212 months agoJan 2025
0.0 %
Change MoMJan – Feb

Summary: The 23089 real estate market had 21 homes for sale in Feb 2025, the same as Jan 2025

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
3Last MonthFeb 2025
32 months agoJan 2025
0.0 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
200
0.0%
31213
+8.3%
475
-28.6%
523
+50.0%

Summary: 23089 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +8.3%. The inventory for 4 bedroom homes decreased by -28.6%. The inventory for 5 bedroom homes increased by +50.0%.

Asking Price vs. Sold Price

How much do homes in 23089, VA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price2 Homes

Insight

If you're buying a home in 23089, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 23089 in February 2025, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and and 33% were sold over asking.

Days on Market for 23089, VA

How long does it take to sell a home in 23089, VA?

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in 23089 are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 3 homes were sold in 23089; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
18 DaysThis YearFeb 2025
42 Days1 year agoFeb 2024
-57.1 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in 23089 had an average listing age of 18 days in Feb 2025, down by 57.1% compared to the previous year.

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Newest Listings in 23089, VA

What homes are available in 23089, VA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Central Virginia Regional MLS, and Real Estate Information Network for the period 03/01/2023 - 03/01/2025

IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2025 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 4:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Some properties which appear for sale on this website have subsequently sold or may no longer be available. REIN updates its listings on a daily basis.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 4:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.