Patrick Springs Housing Market Report February 2025•Patrick County, Virginia

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Housing Prices in Patrick Springs, VA

How much do homes in Patrick Springs, VA cost?

Housing Market Conditions

Is Patrick Springs, 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 Springs is a Seller's Market

Difference Since January 2025

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

Insight

Patrick Springs 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.
$439,000$147/SqFt
+$358,250
+443.7%

Based on all homes sold in February 2025

Insight

Homes in Patrick Springs have sold for 443.7% more than they did a month ago.

Summary: The median home sold price in Patrick Springs was $439,000 in February 2025, up 443.7% from last month, and the median price per square foot was $147.

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 MoM
Patrick Springs
+443.7%
Blackberry
-25.5%

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.
BedsJan 2025Feb 2025Change MoM
1$87.5K-
N/A
2$74K-
N/A
3--
N/A
4-$439K
N/A
5--
N/A

Summary: Patrick Springs housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

Housing supply in Patrick Springs, VA

How many homes are available in Patrick Springs, 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
2Last MonthFeb 2025
42 months agoJan 2025
-50.0 %
Change MoMJan – Feb

Summary: The Patrick Springs real estate market had 2 homes for sale in Feb 2025, a 50.0 % decrease 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
110
-100.0%
210
-100.0%
311
0.0%
411
0.0%
500
0.0%

Summary: Patrick Springs housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes decreased by -100.0%. The inventory for 3 bedroom homes remained the same. 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 Patrick Springs, 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 Patrick Springs, 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 Patrick Springs 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 Patrick Springs, VA

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

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days0 Home

Over 90 Days1 Home

Insight

Most homes in Patrick Springs 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 Patrick Springs; 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.
Last Month1 month agoChange MoM
95 DaysLast MonthFeb 2025
0 Days1 month agoJan 2025
0.0 %
Change MoMJan – Feb

Summary: Homes in Patrick Springs had an average listing age of 95 days in Feb 2025, down by .0% compared to the previous month.

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Newest Listings in Patrick Springs, VA

What homes are available in Patrick Springs, VA?

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Nearby markets

Nearby markets aren't available for Patrick Springs, VA

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Triad MLS Inc, for the period 01/01/2025 - 03/01/2025

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: 3/12/2025, 3:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.