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Featured local agent — Wakefield, VA
Sarah Mitchell
Compass Real Estate · Wakefield, VA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Wakefield, VA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$980,250median sale price
How is the Wakefield, VA housing market right now?
The median home sale price in Wakefield, VA is $980,250, up 6.4% year-over-year. Homes sell in an average of 17 days with 13 active listings. The market is currently a strong 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 Wakefield a buyer's or seller's market?
Wakefield, VA is currently a strong seller's market, based on 0.6 months of supply and homes selling in about 17 days. How we determine this →
Homes sold
22
Last 12 weeks
Days on market
17
Fast-moving
Active listings
13
0.6 months supply
Sale-to-list
103.7%
Above asking
What does the Wakefield housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $980,250 |
| Median list price | $950,000 |
| Year-over-year price change | +6.4% |
| Average days on market | 17 days |
| Active inventory | 13 listings |
| Months of supply | 0.6 months |
| Sale-to-list price ratio | 103.7% |
| Median price per sq ft | $374/sq ft |
| Homes sold (latest month) | 22 |
| New listings (latest month) | 17 |
| Listings with a price cut | 23.1% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Wakefield by property type?
How the Wakefield, 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 | $1.06M | $374/sq ft | 20 | 17 days |
| Townhouse | $559,000 | $350/sq ft | 2 | 17 days |
Source: Redfin · Updated monthly
The Wakefield housing market is currently classified as a strong seller's market with a median sale price of $980,250. Prices have risen 6.4% compared to last year, with homes spending an average of 17 days on market, indicating 0.6 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 3.9x provides context for how home values compare to local earning capacity.
Homes for sale in Wakefield
There are currently 13 homes listed for sale in Wakefield, Virginia. The median listing price is $950K.
Active listings
13
Homes on market
Median list price
$950K
Avg. days on market
17
Days until sale
New this week
17
Newly listed
Who lives in Wakefield?
Population
1,082
Median income
$56,250/yr
Median age
40.4 years
Owner-occupied
72.5%
College grads
20.0%
Avg commute
40 min
Source: U.S. Census Bureau ACS
What are homes worth in Wakefield?
Zillow home value
$221,546
Price-to-income
3.9x
Source: Zillow Research
What is it like to live in Wakefield?
Wakefield is a community of approximately 1K residents with a median age of 40.4 years.The median household income is $56,250, which represents a working-class community with solid middle-income opportunities. 20.0% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 72.5%, reflecting strong community stability and long-term resident commitment. The average commute time is 40 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Wakefield offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Wakefield, VA?
Want a head-to-head view? Compare Wakefield side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Wakefield?
The median home sale price in Wakefield is $980,250, up 6.4% from last year.
How long do homes stay on market in Wakefield?
Homes typically spend 17 days on market before going under contract.
What is the median income in Wakefield?
The median household income is $56,250 per year.
Is Wakefield a buyer's or seller's market?
With 0.6 months of supply, Wakefield is currently a strong seller's market.
What is the Zillow home value estimate for Wakefield?
The Zillow Home Value Index (ZHVI) for Wakefield is $221,546, representing the typical home value in the area.
How much does a single-family home cost in Wakefield?
The median single-family home price in Wakefield, VA is $1.06M (about $374 per square foot).
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