$137,500
1.00 Acres
Land
Listing Office: MKB, REALTORS(r)
Is Gills Creek, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
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.
Housing Prices in Gills Creek, VA
How much do homes in Gills Creek, VA cost?
Median Sold Price
$525,666
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$56,166(+12.0%)
Key Takeaway
Homes in Gills Creek have sold for 12% more than they did a year ago.
Summary: The median home sold price in Gills Creek was $525,666 in October 2024, up 12% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $235K | +27.0% |
| 2 Bedrooms | $444.5K | $464.9K | +4.6% |
| 3 Bedrooms | $455K | $499.9K | +9.9% |
| 4 Bedrooms | $725K | $931.5K | +28.5% |
| 5+ Bedrooms | $1.1M | $1.3M | +15.8% |
Summary: Gills Creek housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 28.5%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Union Hall | $653.1K | $770K | +17.9% |
| Wirtz | $465K | $529.9K | +14.0% |
| Gills Creek | $469.5K | $525.6K | +12.0% |
| Boone | $315K | $330K | +4.8% |
| Hardy | $422K | $425K | +0.7% |
Housing Supply in Gills Creek, VA
How many homes are available in Gills Creek, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 96 | 117 | +21.9% |
Summary: The Gills Creek real estate market had 117 homes for sale in October 2024, a 21.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 8 | 12 | +50.0% |
| 3 Bedrooms | 48 | 57 | +18.8% |
| 4 Bedrooms | 26 | 29 | +11.5% |
| 5+ Bedrooms | 9 | 16 | +77.8% |
Summary: The Gills Creek housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 77.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 23 | +53.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gills Creek, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Gills Creek in October 2024, up by 53.3% month-over-month. Of the 23 sold homes, 57% were sold under asking, 13% were sold at asking, and 30% were sold over asking.
Days on Market for Gills Creek, VA
How long does it take to sell a home in Gills Creek, VA?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Gills Creek are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 23 homes were sold in Gills Creek; 4% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.