Gate City Housing Market Report May 2025•Scott County, Virginia

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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?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Gate City is a Seller's Market

Difference Since May 2024

Since last year, Gate City has remained a Seller's Market.

Insight

Gate City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$200,000$124/SqFt
+$23,750
+13.5%

Based on all homes sold in the last 12 months

Insight

Homes in Gate City have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in Gate City was $200,000 in May 2025, up 13.5% from last year, and the median price per square foot was $124.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMay 2024May 2025Change YoY
1-$75K
N/A
2$126K$165K
+31.0%
3$177.6K$199.4K
+12.3%
4$245K$272K
+11.0%
5$301.9K$275K
-8.9%

Summary: Gate City housing price by bedroom type for May 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 +31.0%. The home price for 3 bedroom homes increased by +12.3%. The home price for 4 bedroom homes increased by +11.0%. The home price for 5 bedroom homes decreased by -8.9%.

How does Gate City, VA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Gate City, VA

Housing supply in Gate City, VA

How many homes are available in Gate City, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
34Last MonthMay 2025
322 months agoApr 2025
+6.3 %
Change MoMApr – May

Summary: The Gate City real estate market had 34 homes for sale in May 2025, a 6.3 % increase compared to Apr 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
10Last MonthMay 2025
22 months agoApr 2025
+400.0 %
Change MoMApr – May

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsApr 2025May 2025Change MoM
110
-100.0%
276
-14.3%
31318
+38.5%
4119
-18.2%
501
+100.0%

Summary: Gate City housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes decreased by -14.3%. The inventory for 3 bedroom homes increased by +38.5%. The inventory for 4 bedroom homes decreased by -18.2%. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Gate City, VA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price0 Home

Under Asking Price8 Homes

Insight

If you're buying a home in Gate City, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Gate City in May 2025, up by 400.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 0% were sold at asking, and and 20% 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 Days0 Home

30 – 90 Days4 Homes

Over 90 Days6 Homes

Insight

Most homes in Gate City are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During May 2025, 10 homes were sold in Gate City; 0% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
117 DaysThis YearMay 2025
51 Days1 year agoMay 2024
+127.2 %
Change YoYMay 2024 – May 2025

Summary: Homes in Gate City had an average listing age of 117 days in May 2025, up by 127.2% compared to the previous year.

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Newest Listings in Gate City, VA

What homes are available in Gate City, VA?

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MLS Disclaimers and Copyright

Based on information from Tennessee Virginia Regional MLS, for the period 06/01/2023 - 06/01/2025

The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Tennessee Virginia Regional MLS. 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. Real estate listings held by brokerage firms other than this brokerl, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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: 6/16/2025, 12:50:33 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.