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Featured local agent — Hopewell, VA
Sarah Mitchell
Compass Real Estate · Hopewell, VA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Hopewell, VA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$251,500median sale price
How is the Hopewell, VA housing market right now?
The median home sale price in Hopewell, VA is $251,500, up 4.8% year-over-year. Homes sell in an average of 18 days with 59 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Hopewell a buyer's or seller's market?
Hopewell, VA is currently a seller's market, based on 2.3 months of supply and homes selling in about 18 days. How we determine this →
Homes sold
26
Last 12 weeks
Days on market
18
Fast-moving
Active listings
59
2.3 months supply
Sale-to-list
100.1%
Above asking
What does the Hopewell housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $251,500 |
| Median list price | $239,700 |
| Year-over-year price change | +4.8% |
| Average days on market | 18 days |
| Active inventory | 59 listings |
| Months of supply | 2.3 months |
| Sale-to-list price ratio | 100.1% |
| Median price per sq ft | $189/sq ft |
| Homes sold (latest month) | 26 |
| New listings (latest month) | 38 |
| Listings with a price cut | 25.4% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Hopewell by property type?
How the Hopewell, VA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $253,000 | $189/sq ft | 25 | 17 days |
| Condo / Co-op | $215,000 | $198/sq ft | 1 | 118 days |
| Townhouse | $275,000 | $174/sq ft | 1 | 5 days |
Source: Redfin · Updated monthly
The Hopewell housing market is currently classified as a seller's market with a median sale price of $251,500. Prices have risen 4.8% compared to last year, with homes spending an average of 18 days on market, indicating 2.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.9x provides context for how home values compare to local earning capacity.
Homes for sale in Hopewell
There are currently 59 homes listed for sale in Hopewell, Virginia. The median listing price is $240K.
Active listings
59
Homes on market
Median list price
$240K
Avg. days on market
18
Days until sale
New this week
38
Newly listed
Who lives in Hopewell?
Population
22,944
Median income
$48,681/yr
Median age
36.4 years
Owner-occupied
55.5%
College grads
12.5%
Avg commute
26.6 min
Source: U.S. Census Bureau ACS
What are homes worth in Hopewell?
Zillow home value
$237,497
Zillow rent index
$1,419/mo
Price-to-rent ratio
13.9x
Price-to-income
4.9x
Source: Zillow Research
What is it like to live in Hopewell?
Hopewell is a community of approximately 23K residents with a median age of 36.4 years.The median household income is $48,681, which represents a working-class community with solid middle-income opportunities. 12.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 55.5%, showing a blend of owner and renter-occupied properties. The average commute time is 26.6 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Hopewell offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Hopewell?
7 schools tracked · 3,944 students
The largest public schools serving Hopewell, VA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Hopewell High
Grades 9-12 · 1,146 students
Carter G. Woodson Middle
Grades 6-8 · 818 students
Patrick Copeland Elementary
Grades K-5 · 596 students
Dupont Elementary
Grades K-5 · 574 students
Harry E. James Elementary
Grades K-5 · 501 students
Woodlawn Pre-School Learning Center
Grades PK · 309 students
New HOPE Academy
Grade range n/a
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Hopewell, VA?
Want a head-to-head view? Compare Hopewell side-by-side with any other U.S. city using our market-comparison tool.
Is Hopewell a good real estate investment market?
For investors evaluating Hopewell, the price-to-rent ratio of 13.9x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 4.8% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Hopewell's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Hopewell's median home price.
Frequently asked questions
What is the average home price in Hopewell?
The median home sale price in Hopewell is $251,500, up 4.8% from last year.
How long do homes stay on market in Hopewell?
Homes typically spend 18 days on market before going under contract.
What is the median income in Hopewell?
The median household income is $48,681 per year.
Is Hopewell a buyer's or seller's market?
With 2.3 months of supply, Hopewell is currently a seller's market.
What is the Zillow home value estimate for Hopewell?
The Zillow Home Value Index (ZHVI) for Hopewell is $237,497, representing the typical home value in the area.
What is the median condo price in Hopewell?
The median condo/co-op sale price in Hopewell, VA is $215,000, compared to $253,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Hopewell?
The median single-family home price in Hopewell, VA is $253,000 (about $189 per square foot).
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