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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wise County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Wise County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Wise County, VA

How much do homes in Wise County, VA cost?

Median Sold Price

$135,000

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$1,333(+1.0%)

Key Takeaway

Homes in Wise County have sold for 1% more than they did a year ago.

Summary: The median home sold price in Wise County was $135,000 in February 2024, up 1% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $14.5K-
N/A
2 $83.7K$74K
-11.6%
3 $125K$129.9K
+4.0%
4 $189K$200K
+5.8%
5+ $225K$184K
-18.2%

Summary: Wise County 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 11.6%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 18.2%.

Median Sold Price Compared To Nearby Counties

Scott County
+2.4%
Wise County
+1.0%

Housing Supply in Wise County, VA

How many homes are available in Wise County, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
91101+11.0%

Summary: The Wise County real estate market had 101 homes for sale in February 2024, a 11.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1515
0.0%
3 5157
+11.8%
4 2325
+8.7%
5+ 24
+100.0%

Summary: The Wise County 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 11.8%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
921+133.3%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wise County, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in Wise County in February 2024, up by 133.3% month-over-month. Of the 21 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.

Days on Market for Wise County, VA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
89 Days107 Days+20.6%

Summary: Homes in Wise County had an average of 107 days on market in Feb 2024, up by 20.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Wise County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 21 homes were sold in Wise County; 5% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 52% 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 County, VA

Nearby Markets to Wise County, VA

What housing markets are near Wise County, VA?