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23111 Housing Market Report June 2025•Hanover County, Virginia

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Housing Prices in 23111, VA

How much do homes in 23111, VA cost?

Housing Market Conditions

Is 23111, 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

23111 is a Seller's Market

Difference Since June 2024

Since last year, 23111 has remained a Seller's Market.

Insight

23111 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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.
$390,000$219/SqFt
+$10,000
+2.6%

Based on all homes sold in the last 12 months

Insight

Homes in 23111 have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in 23111 was $390,000 in June 2025, up 2.6% from last year, and the median price per square foot was $219.

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
23150
+4.9%
23075
+4.1%
23111
+2.6%
23116
0.3%
23106
-7.0%

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.
BedsJun 2024Jun 2025Change YoY
1-$515K
N/A
2$360K$305K
-15.3%
3$350K$352.8K
+0.8%
4$415.5K$443K
+6.6%
5$525K$630K
+20.0%

Summary: 23111 housing price by bedroom type for June 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -15.3%. The home price for 3 bedroom homes increased by +0.8%. The home price for 4 bedroom homes increased by +6.6%. The home price for 5 bedroom homes increased by +20.0%.

How does 23111, VA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

23111, VA

Housing supply in 23111, VA

How many homes are available in 23111, 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
168Last MonthJun 2025
1692 months agoMay 2025
-0.6 %
Change MoMMay – Jun

Summary: The 23111 real estate market had 168 homes for sale in Jun 2025, a 0.6 % decrease compared to May 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
53Last MonthJun 2025
452 months agoMay 2025
+17.8 %
Change MoMMay – Jun

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.
BedsMay 2025Jun 2025Change MoM
100
0.0%
231
-66.7%
38588
+3.5%
46660
-9.1%
51519
+26.7%

Summary: 23111 housing inventory by bedroom type for June 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -66.7%. The inventory for 3 bedroom homes increased by +3.5%. The inventory for 4 bedroom homes decreased by -9.1%. The inventory for 5 bedroom homes increased by +26.7%.

Asking Price vs. Sold Price

How much do homes in 23111, 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 Price30 Homes

At Asking Price10 Homes

Under Asking Price11 Homes

Insight

If you're buying a home in 23111, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.

Summary: A total of 53 homes were sold or pending in 23111 in June 2025, up by 17.8% month-over-month. Of the 51 sold homes, 22% were sold under asking, 20% were sold at asking, and and 59% were sold over asking.

Days on Market for 23111, VA

How long does it take to sell a home in 23111, VA?

Breakdown of Home Sale Times

Under 30 Days47 Homes

30 – 90 Days5 Homes

Over 90 Days0 Home

Insight

Many homes in 23111 are selling fast, if you're buying plan to act quickly.

Summary: During June 2025, 53 homes were sold in 23111; 89% of homes were sold within 30 days, 9% 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
12 DaysThis YearJun 2025
22 Days1 year agoJun 2024
-44.0 %
Change YoYJun 2024 – Jun 2025

Summary: Homes in 23111 had an average listing age of 12 days in Jun 2025, down by 44.0% compared to the previous year.

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Newest Listings in 23111, VA

What homes are available in 23111, VA?

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MLS Disclaimers and Copyright

Based on information from Central Virginia Regional MLS, and Real Estate Information Network for the period 07/01/2023 - 07/01/2025

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: 7/23/2025, 4:45:29 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXCopyright © 2025 REIN. REIN's listings Data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of Data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.

The listings data displayed on this medium comes in part from the Real Estate Information Network Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.

Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings, user is advised to verify the accuracy of the listing information before making any financial decisions.
This application does not include information on all of the properties available for sale at this time.

Some of these listings contain enhanced listing information including mapping from sources such as Google, Bing, Microsoft, Yahoo, WalkScore and others.

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: 7/23/2025, 4:45:32 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.