Lake Monticello, VA 22902 Real Estate Market Report

ZIP Code: 22902
Report Date: June 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. 456,500 is the neighborhood's median sold price and serves as the primary indicator of current market value and recent transaction activity; this level, combined with a median listing price of 452,450, suggests seller expectations are roughly aligned with recent closed transactions (representative recent sale).

2. The market shows slower liquidity with a median days on market of 360, which may indicate longer marketing times and greater pricing friction for sellers rather than immediate turnover (down in price year-over-year supports softer conditions).

3. Pricing intensity at the property level is moderate with a median price per square foot of 271, which should be used as a benchmark for comparative valuation when underwriting listings or offers in this area (neutral market temperature).

4. Rental market signals diverge from sales: median market rent is 1,995 and rent year-over-year trend is up, while interest rate pressure is elevated; investors should weigh rising rents against higher financing costs and slower sales velocity when assessing buy-and-hold opportunities.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Lake Monticello, VA 22902 Real Estate Market Report

ZIP Code: 22902
Report Date: June 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. Median sold price is not provided in the available metrics, but median sold price is the primary indicator of neighborhood value and recent transaction activity; its absence may reflect limited closed-sale data in the analyzed sample and should be sought before making definitive pricing conclusions. contextual

2. Median listing price: $1,399,000 combined with a reported down price year-over-year trend suggests seller expectations remain above recent transaction levels and that pricing pressure exists across the market.

3. Median days on market: 213 indicates elongated time-to-contract and, when considered with elevated inventory relative to sales in the analyzed sample, suggests slower sales velocity and persistent pricing friction that may indicate buyers have more negotiating leverage than during a faster market. neutral

4. Median market rent: $1,900 and a reported up rent year-over-year trend indicate strengthening rental demand; however, elevated interest rate pressure may constrain buyer affordability and reinforce renter demand, making buy-vs-rent decisions more sensitive to financing costs.

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Notable Properties

The following 1 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.