$2,730 Closing Credit*
$229,900
1,500 SqFt
3 Beds
•2 Full Baths
#9974493, Edward Grindstaff, Listing Office: Integrity Property Group
Is Pennington Gap, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Pennington Gap has remained a Buyer's Market.
Key Takeaway
Pennington Gap is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pennington Gap, VA
How much do homes in Pennington Gap, VA cost?
Median Sold Price
$190,000
$93/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$91,500(+92.9%)
Key Takeaway
Homes in Pennington Gap have sold for 92.9% more than they did a month ago.
Summary: The median home sold price in Pennington Gap was $190,000 in November 2024, up 92.9% from last month, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $20K | $167.5K | +737.5% |
| 4 Bedrooms | $177K | $299.9K | +69.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Pennington Gap housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 737.5%, 4 bedroom homes increased by 69.4%, and 5+ bedroom homes did not change.
Housing Supply in Pennington Gap, VA
How many homes are available in Pennington Gap, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Summary: The Pennington Gap real estate market had 22 homes for sale in November 2024, a 4.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Pennington Gap 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 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Pennington Gap, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Pennington Gap in November 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Pennington Gap, VA
How long does it take to sell a home in Pennington Gap, VA?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 203 Days | 95 Days | -53.2% |
Summary: Homes in Pennington Gap had an average of 95 days on market in Nov 2024, down by 53.2% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Pennington Gap are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 3 homes were sold in Pennington Gap; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.