Is Big Stone Gap, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Big Stone Gap has remained a Seller's Market.
Key Takeaway
Big Stone Gap is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Big Stone Gap, VA
How much do homes in Big Stone Gap, VA cost?
Median Sold Price
$186,933
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Big Stone Gap have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Big Stone Gap was $186,933 in March 2024, up 9.3% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $68K | $89K | +30.9% |
| 3 Bedrooms | $168K | $152K | -9.5% |
| 4 Bedrooms | $185K | $244K | +31.9% |
| 5+ Bedrooms | $292.5K | $298.8K | +2.2% |
Summary: Big Stone Gap housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.9%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes increased by 31.9%, and 5+ bedroom homes increased by 2.2%.
Housing Supply in Big Stone Gap, VA
How many homes are available in Big Stone Gap, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Summary: The Big Stone Gap real estate market had 23 homes for sale in March 2024, a 4.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Big Stone Gap housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Big Stone Gap, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Big Stone Gap in March 2024, up by 150.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Big Stone Gap, VA
How long does it take to sell a home in Big Stone Gap, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 107 Days | 81 Days | -23.8% |
Summary: Homes in Big Stone Gap had an average of 81 days on market in Mar 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Big Stone Gap has remained consistent over time.
Summary: During March 2024, 5 homes were sold in Big Stone Gap; 0% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
