#9976335, Kristina Kilgore, Listing Office: The Addington Agency Bristol
Gate City Housing Market Report January 2025•Scott County, Virginia
Housing Prices in Gate City, VA
How much do homes in Gate City, VA cost?
Housing Market Conditions
Is Gate City, VA a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Gate City is a Buyer's Market
Difference Since January 2024
At the same time last year, Gate City was a Seller's Market.
Gate City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Gate City have sold for 29.8% more than they did a year ago.
Summary: The median home sold price in Gate City was $194,750 in January 2025, up 29.8% from last year, and the median price per square foot was $112.
Median Sold Price By Cities
City | Jan 2024 | Jan 2025 | Change YoY |
---|---|---|---|
Gate City | $150K | $194.7K | +29.8% |
Weber City | $155.2K | $170K | +9.5% |
Median Sold Price By Bedrooms
Beds | Jan 2024 | Jan 2025 | Change YoY |
---|---|---|---|
11 Bedroom | $65K | - | N/A |
22 Bedrooms | $123.9K | $136K | +9.7% |
33 Bedrooms | $165.2K | $177.6K | +7.5% |
44 Bedrooms | $245K | $269K | +9.8% |
55+ Bedrooms | $445.9K | $290K | -35.0% |
Summary: Gate City housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +9.7%. The home price for 3 bedroom homes increased by +7.5%. The home price for 4 bedroom homes increased by +9.8%. The home price for 5 bedroom homes decreased by -35.0%.
Housing supply in Gate City, VA
How many homes are available in Gate City, VA?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
26Last MonthJan 2025 | ||
352 months agoDec 2024 | -25.7 % Change MoMDec – Jan |
Summary: The Gate City real estate market had 26 homes for sale in Jan 2025, a 25.7 % decrease compared to Dec 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
3Last MonthJan 2025 | ||
112 months agoDec 2024 | -72.7 % Change MoMDec – Jan |
Homes For Sale By Bedroom Count
Beds | Dec 2024 | Jan 2025 | Change MoM |
---|---|---|---|
11 Bedroom | 0 | 1 | +100.0% |
22 Bedrooms | 9 | 6 | -33.3% |
33 Bedrooms | 18 | 12 | -33.3% |
44 Bedrooms | 6 | 6 | 0.0% |
55+ Bedrooms | 2 | 1 | -50.0% |
Summary: Gate City housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes decreased by -33.3%. The inventory for 3 bedroom homes decreased by -33.3%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes decreased by -50.0%.
Asking Price vs. Sold Price
How much do homes in Gate City, VA cost?
Over Asking Price0 Home
At Asking Price0 Home
Under Asking Price3 Homes
If you're buying a home in Gate City, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Gate City in January 2025, down by 72.7% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.
Days on Market for Gate City, VA
How long does it take to sell a home in Gate City, VA?
Breakdown of Home Sale Times
Under 30 Days1 Home
30 – 90 Days1 Home
Over 90 Days1 Home
Many homes in Gate City are selling fast, if you're buying plan to act quickly.
Summary: During January 2025, 3 homes were sold in Gate City; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
71 DaysThis YearJan 2025 | ||
70 Days1 year agoJan 2024 | +1.7 % Change YoYJan 2024 – Jan 2025 |
Summary: Homes in Gate City had an average listing age of 71 days in Jan 2025, up by 1.7% compared to the previous year.
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Newest Listings in Gate City, VA
What homes are available in Gate City, VA?
Nearby markets
Nearby markets aren't available for Gate City, VA
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MLS Disclaimers and Copyright
Based on information from Tennessee Virginia Regional MLS, for the period 02/01/2023 - 02/01/2025
Copyright© 2025 Tennessee Virginia Regional MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/22/2025, 1:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.