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Sarah Mitchell
Compass Real Estate · ZIP 24502
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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24502 ZIP Code Housing Market
$280,000median sale price
What is the 24502 housing market like right now?
The median home sale price in ZIP code 24502 is $280,000, down 2.8% year-over-year. Homes sell in an average of 22 days with 98 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 24502 ZIP code a buyer's or seller's market?
ZIP code 24502 is currently a balanced market and homes selling in about 22 days. How we determine this →
What are the latest 24502 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $280,000 |
| Median list price | $297,000 |
| Year-over-year price change | -2.8% |
| Average days on market | 22 days |
| Active inventory | 98 listings |
| Sale-to-list price ratio | 99.2% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 24502 zip code, located in Timberlake, VA, is currently classified as a balanced market. The median sale price stands at $280,000, representing a -2.8% change year over year. Homes in this area spend an average of 22 days on the market before going under contract. There are currently 98 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 24502 sits in the Timberlake, VA area, roughly 3 miles from downtown Timberlake. Because home prices are set street by street, this ZIP can move differently from Timberlake's citywide averages. The figures below reflect 24502 specifically — drawn from Redfin transactions, U.S. Census data for its 41,979 residents, and Zillow value estimates.
Homes sold
151
Last 12 weeks
Days on market
22
Average pace
Active listings
98
Sale-to-list
99.2%
Below asking
What is driving the 24502 housing market?
The 24502 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 99.2% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 24502 have declined -2.8% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 24502 stands at $281,510, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,529 per month. This gives a price-to-rent ratio of approximately 15.3, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 24502?
Population
41,979
Median income
$68,872/yr
Median age
32.6 years
Owner-occupied
52.3%
College grads
37.9%
Avg commute
19.5 min
What is it like living in 24502?
Zip code 24502 is home to approximately 41,979 residents. The median household income is $68,872 per year, which shapes the types of homes and amenities available in the area. With a median age of 32.6 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 52.3% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 37.9% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 19.5 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 24502.
Which public schools serve ZIP 24502?
14 schools tracked · 6,215 students
The largest public schools serving ZIP code 24502 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.
Heritage High
Grades 9-12 · 1,080 students
Brookville High
Grades 9-12 · 1,015 students
Tomahawk Elementary
Grades PK-5 · 679 students
Brookville Middle
Grades 6-8 · 678 students
Leesville Road Elementary
Grades PK-5 · 642 students
Sandusky Middle
Grades 6-8 · 543 students
Heritage Elementary
Grades PK-5 · 454 students
Sheffield Elementary
Grades PK-5 · 432 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 24502
What is the median home price in 24502?
The current median sale price in 24502 is $280,000, based on recent Redfin transaction data. Prices have changed -2.8% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 24502 a buyer's or seller's market?
The 24502 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 24502?
Zip code 24502 has a population of approximately 41,979 residents. The median household income is $68,872 per year. About 52.3% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 24502?
Properties Incorporated provides comprehensive data for 24502 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 24502 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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