Park Housing Market Report February 2025•Smyth County, Virginia

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Housing Prices in Park, VA

How much do homes in Park, VA cost?

Housing Market Conditions

Is Park, 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

Park is a Neutral Market

Difference Since February 2024

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

Insight

Park 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.
$173,000$122/SqFt
+$38,000
+28.1%

Based on all homes sold in the last 12 months

Insight

Homes in Park have sold for 28.1% more than they did a year ago.

Summary: The median home sold price in Park was $173,000 in February 2025, up 28.1% from last year, and the median price per square foot was $122.

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
+28.1%
North Fork
+20.7%
Marion
+13.7%
Royal Oak
-27.8%

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.
BedsFeb 2024Feb 2025Change YoY
1$31.9K-
N/A
2$59.2K$145.2K
+145.1%
3$153.2K$204.9K
+33.7%
4$227.5K$173K
-24.0%
5$115.4K$390K
+237.8%

Summary: Park housing price by bedroom type for February 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 +145.1%. The home price for 3 bedroom homes increased by +33.7%. The home price for 4 bedroom homes decreased by -24.0%. The home price for 5 bedroom homes increased by +237.8%.

Housing supply in Park, VA

How many homes are available in Park, 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
7Last MonthFeb 2025
42 months agoJan 2025
+75.0 %
Change MoMJan – Feb

Summary: The Park real estate market had 7 homes for sale in Feb 2025, a 75.0 % increase compared to Jan 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
1Last MonthFeb 2025
22 months agoJan 2025
-50.0 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
100
0.0%
223
+50.0%
324
+100.0%
400
0.0%
500
0.0%

Summary: Park housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +50.0%. The inventory for 3 bedroom homes increased by +100.0%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Park, 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 Price0 Home

At Asking Price0 Home

Under Asking Price1 Home

Insight

If you're buying a home in Park, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Park in February 2025, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for Park, VA

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

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days0 Home

Over 90 Days1 Home

Insight

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

Summary: During February 2025, 1 homes were sold in Park; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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
211 DaysThis YearFeb 2025
155 Days1 year agoFeb 2024
+35.7 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Park had an average listing age of 211 days in Feb 2025, up by 35.7% compared to the previous year.

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Newest Listings in Park, VA

What homes are available in Park, VA?

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Nearby markets

Nearby markets aren't available for Park, VA

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Tennessee Virginia Regional MLS, and Southwest Virginia Association of REALTORS® MLS for the period 03/01/2023 - 03/01/2025

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: 3/12/2025, 12:50:55 AM 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 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: 3/12/2025, 4:15:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.