Is Penhook, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Penhook was a Seller's Market.
Key Takeaway
Penhook is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Penhook, VA
How much do homes in Penhook, VA cost?
Median Sold Price
$955,000
$375/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Penhook have sold for 55.9% more than they did a year ago.
Summary: The median home sold price in Penhook was $955,000 in March 2024, up 55.9% from last year, and the median price per square foot was $375.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $432.5K | $432K | -0.1% |
| 3 Bedrooms | $352K | $465K | +32.1% |
| 4 Bedrooms | $800K | $1.3M | +68.8% |
| 5+ Bedrooms | $1.2M | $2.9M | +137.8% |
Summary: Penhook 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 decreased by 0.1%, 3 bedroom homes increased by 32.1%, 4 bedroom homes increased by 68.8%, and 5+ bedroom homes increased by 137.8%.
Median Sold Price Compared To Nearby Cities
| Penhook | $612.5K | $955K | +55.9% |
| Union Hall | $595K | $604K | +1.5% |
Housing Supply in Penhook, VA
How many homes are available in Penhook, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Summary: The Penhook real estate market had 15 homes for sale in March 2024, a 7.1% 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Penhook 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 20%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penhook, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Penhook in March 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Penhook, VA
We’re sorry, we don't have information for this market at the moment
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.