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 April 2023
At the same time last year, Big Stone Gap was a Neutral 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
$190,000
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Big Stone Gap have sold for 13.1% more than they did a year ago.
Summary: The median home sold price in Big Stone Gap was $190,000 in April 2024, up 13.1% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $60K | $96K | +60.0% |
| 3 Bedrooms | $168.5K | $139K | -17.5% |
| 4 Bedrooms | $190.4K | $239.5K | +25.8% |
| 5+ Bedrooms | $365K | $341.3K | -6.5% |
Summary: Big Stone Gap housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 60%, 3 bedroom homes decreased by 17.5%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes decreased by 6.5%.
Housing Supply in Big Stone Gap, VA
How many homes are available in Big Stone Gap, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 23 | -11.5% |
Summary: The Big Stone Gap real estate market had 23 homes for sale in April 2024, a 11.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 10 | 6 | -40.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Big Stone Gap housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 300%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 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. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Big Stone Gap in April 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 115 Days | 52 Days | -54.3% |
Summary: Homes in Big Stone Gap had an average of 52 days on market in Apr 2024, down by 54.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Big Stone Gap has remained consistent over time.
Summary: During April 2024, 6 homes were sold in Big Stone Gap; 17% of homes were sold within 30 days, 83% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
