Is Gills Creek, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gills Creek is a seller's market

Buyer's
Market

Difference Since September 2021

Since last year, Gills Creek has remained a Seller's Market.

Key Takeaway

Gills Creek is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Gills Creek, VA cost?

Median Sold Price

$555,875

$252/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$134,275(+31.8%)

Key Takeaway

Homes in Gills Creek have sold for 31.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $223K$154.9K
-30.5%
2 $323.4K$397.5K
+22.9%
3 $385K$432.5K
+12.3%
4 $620K$735K
+18.5%
5+ $962.5K$982.7K
+2.1%

Median Sold Price Compared To Nearby Cities

Gills Creek
+31.8%
Union Hall
+15.8%
Hardy
+14.5%
Boone
+5.3%
Wirtz
-3.1%

How many homes are available in Gills Creek, VA?

Number of Homes For Sale

Aug 2022Sep 2022%
101110+8.9%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 21
-50.0%
2 1311
-15.4%
3 4155
+34.1%
4 2929
0.0%
5+ 1614
-12.5%

Number of Homes Sold

Aug 2022Sep 2022%
3022-26.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gills Creek, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Gills Creek, VA

Gills Creek, VA has 110 homes for sale to choose from. The number of listings in Gills Creek, VA increased by 8.9% between August 2022 and September 2022. From August 2022 through September 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties decreased by 30.5%, 2 bedrooms properties prices increased by 22.9%, prices of 3 bedrooms properties increased by 12.3%, prices of 4 bedrooms properties went up by 18.5%, prices of 5 bedrooms properties increased by 2.1%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went down by 50%, 2 bedrooms homes inventory decreased by 15.4%, the quantity of 3 bedrooms homes went up by 34.1%, number of 4 bedrooms homes remained the same, the quantity of 5 bedrooms homes went down by 12.5%. In September 2022, from all listings sold in Gills Creek, VA there were more than 6 sold above asking price, over 10 sold below and more than 6 were sold right at the asked price.

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