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Featured local agent — Innovation, VA
Sarah Mitchell
Compass Real Estate · Innovation, VA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Innovation, VA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$565,693median sale price
How is the Innovation, VA housing market right now?
The median home sale price in Innovation, VA is $565,693, down 8.0% year-over-year. Homes sell in an average of 24 days with 13 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 Innovation a buyer's or seller's market?
Innovation, VA is currently a seller's market, based on 1.3 months of supply and homes selling in about 24 days. How we determine this →
Homes sold
10
Last 12 weeks
Days on market
24
Average pace
Active listings
13
1.3 months supply
Sale-to-list
98.6%
Below asking
What does the Innovation housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $565,693 |
| Median list price | $582,525 |
| Year-over-year price change | -8.0% |
| Average days on market | 24 days |
| Active inventory | 13 listings |
| Months of supply | 1.3 months |
| Sale-to-list price ratio | 98.6% |
| Median price per sq ft | $269/sq ft |
| Homes sold (latest month) | 10 |
| New listings (latest month) | 17 |
| Listings with a price cut | 7.7% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Innovation by property type?
How the Innovation, 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 | $636,115 | $295/sq ft | 2 | 13 days |
| Condo / Co-op | $485,480 | $309/sq ft | 1 | 109 days |
| Townhouse | $567,210 | $248/sq ft | 9 | 23 days |
Source: Redfin · Updated monthly
The Innovation housing market is currently classified as a seller's market with a median sale price of $565,693. Prices have fallen 8.0% compared to last year, with homes spending an average of 24 days on market, indicating 1.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Homes for sale in Innovation
There are currently 13 homes listed for sale in Innovation, Virginia. The median listing price is $583K.
Active listings
13
Homes on market
Median list price
$583K
Avg. days on market
24
Days until sale
New this week
17
Newly listed
Who lives in Innovation?
Population
1,139
Median age
36.6 years
College grads
50.5%
Avg commute
23.4 min
Source: U.S. Census Bureau ACS
What is it like to live in Innovation?
Innovation is a community of approximately 1K residents with a median age of 36.6 years. 50.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
0 The average commute time is 23.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Innovation offers a distinctive character that appeals to different lifestyle preferences.
Which cities are near Innovation, VA?
Want a head-to-head view? Compare Innovation side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Innovation?
The median home sale price in Innovation is $565,693, down 8.0% from last year.
How long do homes stay on market in Innovation?
Homes typically spend 24 days on market before going under contract.
Is Innovation a buyer's or seller's market?
With 1.3 months of supply, Innovation is currently a seller's market.
What is the median condo price in Innovation?
The median condo/co-op sale price in Innovation, VA is $485,480, compared to $636,115 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Innovation?
The median single-family home price in Innovation, VA is $636,115 (about $295 per square foot).
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