$99,900
0.50 Acres
Land
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 October 2023
Since last year, Penhook has remained a Seller's Market.
Key Takeaway
Penhook is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Penhook, VA
How much do homes in Penhook, VA cost?
Median Sold Price
$784,500
$376/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$54,500(-6.5%)
Key Takeaway
Homes in Penhook have sold for 6.5% less than they did a year ago.
Summary: The median home sold price in Penhook was $784,500 in October 2024, down 6.5% from last year, and the median price per square foot was $376.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $399.9K | $459.5K | +14.9% |
| 3 Bedrooms | $500K | $340K | -32.0% |
| 4 Bedrooms | $1.3M | $1.4M | +10.4% |
| 5+ Bedrooms | $2.1M | $2.7M | +27.8% |
Summary: Penhook housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.9%, 3 bedroom homes decreased by 32%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 27.8%.
Median Sold Price Compared To Nearby Cities
| Glade Hill | $244K | $339.9K | +39.3% |
| Union Hall | $653.1K | $770K | +17.9% |
| Penhook | $839K | $784.5K | -6.5% |
Housing Supply in Penhook, VA
How many homes are available in Penhook, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Summary: The Penhook real estate market had 16 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Penhook housing inventory by bedroom type for October 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 10%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were 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 4 homes were sold or pending in Penhook in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Penhook, VA
How long does it take to sell a home in Penhook, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 22 Days | +144.4% |
Summary: Homes in Penhook had an average of 22 days on market in Oct 2024, up by 144.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Penhook are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Penhook; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.