$30,000
0.80 Acres
Land
#9971473, Patience Evans, Listing Office: REMAX Cavaliers
Is Wise, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Wise has remained a Buyer's Market.
Key Takeaway
Wise is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wise, VA
How much do homes in Wise, VA cost?
Median Sold Price
$170,000
$110/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since August 2023.
Key Takeaway
The sold price of homes in Wise has remained the same since last year.
Summary: The median home sold price in Wise was $170,000 in August 2024, the same as last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $71.3K | $111.2K | +56.0% |
| 3 Bedrooms | $162.5K | $175K | +7.7% |
| 4 Bedrooms | $208.5K | $190.5K | -8.6% |
| 5+ Bedrooms | $275K | - | N/A |
Summary: Wise housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 56%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Wise | $170K | $170K | 0.0% |
| Norton | $141K | $130K | -7.8% |
Housing Supply in Wise, VA
How many homes are available in Wise, VA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 28 | 24 | -14.3% |
Summary: The Wise real estate market had 24 homes for sale in August 2024, a 14.3% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 18 | 14 | -22.2% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Wise housing inventory by bedroom type for August 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 22.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Wise, 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 Wise in August 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Wise, VA
How long does it take to sell a home in Wise, VA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 79 Days | 68 Days | -13.8% |
Summary: Homes in Wise had an average of 68 days on market in Aug 2024, down by 13.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wise has remained consistent over time.
Summary: During August 2024, 2 homes were sold in Wise; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
