Is Wise, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wise is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Wise was a Seller's Market.

Key Takeaway

Wise is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Wise, VA

How much do homes in Wise, VA cost?

Median Sold Price

$168,000

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$20,500(-10.9%)

Key Takeaway

Homes in Wise have sold for 10.9% less than they did a year ago.

Summary: The median home sold price in Wise was $168,000 in February 2024, down 10.9% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $104.5K$72.6K
-30.5%
3 $136K$169K
+24.3%
4 $239K$202.5K
-15.3%
5+ $290.5K$349K
+20.1%

Summary: Wise housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.5%, 3 bedroom homes increased by 24.3%, 4 bedroom homes decreased by 15.3%, and 5+ bedroom homes increased by 20.1%.

Median Sold Price Compared To Nearby Cities

Norton
-0.7%
Wise
-10.9%

Housing Supply in Wise, VA

How many homes are available in Wise, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2431+29.2%

Summary: The Wise real estate market had 31 homes for sale in February 2024, a 29.2% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 55
0.0%
3 1116
+45.5%
4 810
+25.0%
5+ 00
0.0%

Summary: The Wise housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wise, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Wise in February 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for Wise, VA

How long does it take to sell a home in Wise, VA?

Average Sale Time

Feb 2023Feb 2024CHANGE
56 Days90 Days+58.4%

Summary: Homes in Wise had an average of 90 days on market in Feb 2024, up by 58.4% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Wise has remained consistent over time.

Summary: During February 2024, 4 homes were sold in Wise; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

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

Report Updated 28 Days Ago

Newest Listings in Wise, VA

Nearby Markets to Wise, VA

What housing markets are near Wise, VA?