Petersburg Housing Market Report January 2025•Petersburg County, Virginia

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Housing Prices in Petersburg, VA

How much do homes in Petersburg, VA cost?

Housing Market Conditions

Is Petersburg, 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

Petersburg is a Buyer's Market

Difference Since January 2024

At the same time last year, Petersburg was a Seller's Market.

Insight

Petersburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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.
$211,700$151/SqFt
+$21,700
+11.4%

Based on all homes sold in the last 12 months

Insight

Homes in Petersburg have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Petersburg was $211,700 in January 2025, up 11.4% from last year, and the median price per square foot was $151.

Median Sold Price By City

Median Sold Price By City
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
Rives
+17.3%
Petersburg
+11.4%
Petersburg
+7.3%
Colonial Heights
+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.
BedsJan 2024Jan 2025Change YoY
1$69K$106.5K
+54.3%
2$124K$136K
+9.7%
3$190.3K$207.4K
+9.0%
4$236.6K$270K
+14.1%
5$300K$310K
+3.3%

Summary: Petersburg housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +54.3%. The home price for 2 bedroom homes increased by +9.7%. The home price for 3 bedroom homes increased by +9.0%. The home price for 4 bedroom homes increased by +14.1%. The home price for 5 bedroom homes increased by +3.3%.

Housing supply in Petersburg, VA

How many homes are available in Petersburg, 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
182Last MonthJan 2025
1562 months agoDec 2024
+16.7 %
Change MoMDec – Jan

Summary: The Petersburg real estate market had 182 homes for sale in Jan 2025, a 16.7 % increase compared to Dec 2024.

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
21Last MonthJan 2025
312 months agoDec 2024
-32.3 %
Change MoMDec – Jan

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.
BedsDec 2024Jan 2025Change MoM
112
+100.0%
22222
0.0%
390101
+12.2%
42941
+41.4%
51416
+14.3%

Summary: Petersburg housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +12.2%. The inventory for 4 bedroom homes increased by +41.4%. The inventory for 5 bedroom homes increased by +14.3%.

Asking Price vs. Sold Price

How much do homes in Petersburg, 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 Price6 Homes

At Asking Price5 Homes

Under Asking Price9 Homes

Insight

If you're buying a home in Petersburg, you may be able to get a good deal. 45% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in Petersburg in January 2025, down by 32.3% month-over-month. Of the 20 sold homes, 45% were sold under asking, 25% were sold at asking, and and 30% were sold over asking.

Days on Market for Petersburg, VA

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

Breakdown of Home Sale Times

Under 30 Days12 Homes

30 – 90 Days6 Homes

Over 90 Days2 Homes

Insight

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

Summary: During January 2025, 21 homes were sold in Petersburg; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% 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
34 DaysThis YearJan 2025
40 Days1 year agoJan 2024
-14.9 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Petersburg had an average listing age of 34 days in Jan 2025, down by 14.9% compared to the previous year.

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Newest Listings in Petersburg, VA

What homes are available in Petersburg, VA?

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Nearby markets

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Central Virginia Regional MLS, Real Estate Information Network, and Northern Neck Association of Realtors MLS for the period 02/01/2023 - 02/01/2025

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Last updated on: 2/11/2025, 9:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 9:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
© 2025 Northern Neck Association of Realtors MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of NNMLS. Information is for personal, non-commercial use by viewers of this site and may not be reproduced or redistributed. All information is deemed reliable but not guaranteed.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 9:15:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.