Marion Housing Market Report March 2025•Smyth County, Virginia

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Housing Prices in Marion, VA

How much do homes in Marion, VA cost?

Housing Market Conditions

Is Marion, 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

Marion is a Neutral Market

Difference Since March 2024

At the same time last year, Marion was a Seller's Market.

Insight

Marion is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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.
$199,450$124/SqFt
+$29,200
+17.2%

Based on all homes sold in the last 12 months

Insight

Homes in Marion have sold for 17.2% more than they did a year ago.

Summary: The median home sold price in Marion was $199,450 in March 2025, up 17.2% from last year, and the median price per square foot was $124.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Park
+23.6%
Marion
+17.2%
Royal Oak
-16.2%

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.
BedsMar 2024Mar 2025Change YoY
1$31.9K-
N/A
2$75K$130K
+73.3%
3$167K$223.4K
+33.8%
4$227.5K$242.7K
+6.7%
5$215K$275K
+27.9%

Summary: Marion housing price by bedroom type for March 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 +73.3%. The home price for 3 bedroom homes increased by +33.8%. The home price for 4 bedroom homes increased by +6.7%. The home price for 5 bedroom homes increased by +27.9%.

How does Marion, VA compare with other places?

Market comparison tool

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

Marion, VA

Housing supply in Marion, VA

How many homes are available in Marion, 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
24Last MonthMar 2025
222 months agoFeb 2025
+9.1 %
Change MoMFeb – Mar

Summary: The Marion real estate market had 24 homes for sale in Mar 2025, a 9.1 % increase compared to Feb 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
4Last MonthMar 2025
82 months agoFeb 2025
-50.0 %
Change MoMFeb – Mar

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.
BedsFeb 2025Mar 2025Change MoM
100
0.0%
245
+25.0%
31212
0.0%
445
+25.0%
522
0.0%

Summary: Marion housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +25.0%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes increased by +25.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Marion, 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 Price1 Home

At Asking Price1 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Marion, 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 Marion in March 2025, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and and 25% were sold over asking.

Days on Market for Marion, VA

How long does it take to sell a home in Marion, VA?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days1 Home

Over 90 Days3 Homes

Insight

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

Summary: During March 2025, 4 homes were sold in Marion; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% 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
174 DaysThis YearMar 2025
126 Days1 year agoMar 2024
+37.5 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Marion had an average listing age of 174 days in Mar 2025, up by 37.5% compared to the previous year.

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Newest Listings in Marion, VA

What homes are available in Marion, VA?

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Nearby markets

Nearby markets aren't available for Marion, VA

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Southwest Virginia Association of REALTORS® MLS, Tennessee Virginia Regional MLS, and Roanoke Valley Association of Realtors MLS for the period 04/01/2023 - 04/01/2025

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) of the SW VA Association of REALTORS® Multiple Listing Service. The SWVAR IDX logo indicates listings of other real estate firms that are identified in the detailed listing information. The information being provided is 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. Information herein is deemed reliable but not guaranteed, representations are approximate, individual verifications are recommended. Copyright 2025 Southwest Virginia Association of REALTORS. 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: 4/14/2025, 1:15:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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: 4/14/2025, 1:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXAlthough 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.

All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The unauthorized retrieval or use of this listing data is prohibited.

All information is deemed reliable but not guaranteed, and should be independently verified. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/14/2025, 1:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.