Patrick County Housing Market Report December 2024•Patrick County, Virginia

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Housing Prices in Patrick County, VA

How much do homes in Patrick County, VA cost?

Housing Market Conditions

Is Patrick County, 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

Patrick County is a Seller's Market

Difference Since November 2024

Last month, Patrick County has remained a Seller's Market.

Insight

Patrick County 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.
$320,000$213/SqFt
-$106,000
-24.9%

Based on all homes sold in December 2024

Insight

Homes in Patrick County have sold for 24.9% less than they did a month ago.

Summary: The median home sold price in Patrick County was $320,000 in December 2024, down 24.9% from last month, and the median price per square foot was $213.

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.
BedsNov 2024Dec 2024Change MoM
1--
N/A
2$151K$421.7K
+179.3%
3$452.1K$140K
-69.0%
4$594.9K-
N/A
5--
N/A

Summary: Patrick County housing price by bedroom type for December 2024, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +179.3%. The home price for 3 bedroom homes decreased by -69.0%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

Housing supply in Patrick County, VA

How many homes are available in Patrick County, 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
16Last MonthDec 2024
192 months agoNov 2024
-15.8 %
Change MoMNov – Dec

Summary: The Patrick County real estate market had 16 homes for sale in Dec 2024, a 15.8 % decrease compared to Nov 2024.

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
3Last MonthDec 2024
42 months agoNov 2024
-25.0 %
Change MoMNov – Dec

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.
BedsNov 2024Dec 2024Change MoM
123
+50.0%
254
-20.0%
387
-12.5%
431
-66.7%
511
0.0%

Summary: Patrick County housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +50.0%. The inventory for 2 bedroom homes decreased by -20.0%. The inventory for 3 bedroom homes decreased by -12.5%. The inventory for 4 bedroom homes decreased by -66.7%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Patrick County, 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 Price3 Homes

Insight

If you're buying a home in Patrick County, 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 Patrick County in December 2024, down by 25.0% 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 Patrick County, VA

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

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days1 Home

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in Patrick County has remained consistent over time.

Summary: During December 2024, 3 homes were sold in Patrick County; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.
Last Month1 month agoChange MoM
30 DaysLast MonthDec 2024
9 Days1 month agoNov 2024
+233.3 %
Change MoMNov – Dec

Summary: Homes in Patrick County had an average listing age of 30 days in Dec 2024, up by 233.3% compared to the previous month.

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Newest Listings in Patrick County, VA

What homes are available in Patrick County, VA?

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MLS Disclaimers and Copyright

Based on information from Triad MLS Inc, Roanoke Valley Association of Realtors MLS, Central Virginia Regional MLS, and Southwest Virginia Association of REALTORS® MLS for the period 11/01/2024 - 01/01/2025

IDX Copyright © 2025 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for 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 is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 4:20:48 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: 1/29/2025, 4:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. 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. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2025 Central Virginia Regional Multiple Listing Service,LLC. 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: 1/29/2025, 4:20:53 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 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: 1/29/2025, 4:15:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.