$10,000 Closing Credit*
$1,775,000
4,739 SqFt
4 Beds
•3 Full Baths, 1 Partial
Listing Office: BERKSHIRE HATHAWAY HOMESERVICES SMITH MOUNTAIN LAKE REAL ESTATE
Is Penhook, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Penhook was a Seller's Market.
Key Takeaway
Penhook is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Penhook, VA
How much do homes in Penhook, VA cost?
Median Sold Price
$649,500
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$305,500(-32.0%)
Key Takeaway
Homes in Penhook have sold for 32% less than they did a year ago.
Summary: The median home sold price in Penhook was $649,500 in November 2024, down 32% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $432K | $452.2K | +4.7% |
| 3 Bedrooms | $620K | $315K | -49.2% |
| 4 Bedrooms | $1.1M | $1.7M | +49.6% |
| 5+ Bedrooms | $3.0M | $2.3M | -23.2% |
Summary: Penhook housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 49.2%, 4 bedroom homes increased by 49.6%, and 5+ bedroom homes decreased by 23.2%.
Median Sold Price Compared To Nearby Cities
| Union Hall | $650K | $850K | +30.8% |
| Penhook | $955K | $649.5K | -32.0% |
Housing Supply in Penhook, VA
How many homes are available in Penhook, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The Penhook real estate market had 13 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Penhook housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was 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. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Penhook in November 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% 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.