2 Bedroom Homes for Sale in Yorktown VA | Zillow (2024)

FAQs

Is the best time to buy a house in Virginia? ›

Spring is the best season for a low-on-cash home buyer wanting to buy a house in Virginia. Sellers are easier to negotiate with because there are more homes for sale and fewer buyers.

The primary reason housing is so expensive in Virginia and elsewhere is because we do not build enough of it. Research shows that zoning and land-use regulations artificially increase the price of housing by making it more expensive to build.

According to the U.S. Census Bureau, Virginia ranks 12^th most expensive in the country for median monthly housing costs for both renters and homeowners, at $1,572. As of May 2024, the average home value in Virginia is estimated to be around $389,500, according to the Zillow Home Value Index.

$393,527. The average Virginia home value is $393,527, up 6.0% over the past year and goes to pending in around 8 days.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

What do mortgage lenders consider a poor credit score in Virginia? The required credit scores for mortgages in Virginia differ based on the type of loan. Conventional loans demand a score of 620, while government-backed loans are more lenient. However, a score below 500 makes mortgage approval difficult.

The priciest city in Virginia is Arlington, where the cost of living is 37% higher compared to the state average and 37% higher than in the rest of the U.S. The cheapest major city in Virginia is Lexington, with a cost of living 12% lower below the state average and 12% lower than the national average.

What is the housing market like right now? In May 2024, home prices in Virginia were up 5.2% compared to last year, selling for a median price. On average, the number of homes sold was up 0.5% year over year and there were 11,089 homes sold in May this year, up 11,021 homes sold in May last year.

$29,700 is the 25th percentile. Salaries below this are outliers. $40,600 is the 75th percentile.

Is it cheaper to live in Florida or Virginia? ›

In fact, the cost of living in Florida is slightly less than Virginia. Of course this depends on where you live in the state, but the overall cost of living in Florida is roughly 8% lower than Virginia.

Housing costs in Maryland are higher than in Virginia, with the median home price in Maryland being $330,000 compared to $260,000 in Virginia. Renting is also more expensive in Maryland, with the average monthly rent for a one-bedroom apartment being $1,500 compared to $1,200 in Virginia.

If having a wide selection of houses to choose from is your priority, then the best time to buy a house in Virginia is June. You'll likely find the highest number of listed homes in June and might have better luck negotiating the price of a property during this month when there are more houses on the market.

Texas enjoys a lower cost of living

Virginia, however, has a cost of living that is more than 4 percent above the national average, and almost 10 percent higher than Texas' expenses. That means that you will have to budget more for groceries, healthcare, housing and more.

What is the housing market like right now? In May 2024, home prices in Virginia were up 5.2% compared to last year, selling for a median price. On average, the number of homes sold was up 0.5% year over year and there were 11,089 homes sold in May this year, up 11,021 homes sold in May last year.

Mortgage rates are expected to come down in 2024, and inventory and home sales are likely to increase. Homebuyers and sellers can also expect prices to continue to rise, albeit at a slower clip than the past couple of years.

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

And as you might imagine, recessions are a risky time to buy a home. If you lose your job, for example, a lender will be much less likely to approve your loan application. Even if a recession doesn't affect you directly, if your area is hard-hit, that could have a serious effect on the local real estate market.