Penhook Housing Market Report February 2025•Franklin County, Virginia

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Housing Prices in Penhook, VA

How much do homes in Penhook, VA cost?

Housing Market Conditions

Is Penhook, 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

Penhook is a Seller's Market

Difference Since February 2024

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

Insight

Penhook 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.
$709,500$358/SqFt
-$245,500
-25.7%

Based on all homes sold in the last 12 months

Insight

Homes in Penhook have sold for 25.7% less than they did a year ago.

Summary: The median home sold price in Penhook was $709,500 in February 2025, down 25.7% from last year, and the median price per square foot was $358.

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
Union Hall
-2.9%
Penhook
-25.7%

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--
N/A
2$434.7K$445K
+2.4%
3$465K$626.2K
+34.7%
4$1.2M$1.7M
+31.3%
5$3.0M$2.3M
-23.2%

Summary: Penhook 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 +2.4%. The home price for 3 bedroom homes increased by +34.7%. The home price for 4 bedroom homes increased by +31.3%. The home price for 5 bedroom homes decreased by -23.2%.

Housing supply in Penhook, VA

How many homes are available in Penhook, 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 MonthFeb 2025
152 months agoJan 2025
+6.7 %
Change MoMJan – Feb

Summary: The Penhook real estate market had 16 homes for sale in Feb 2025, a 6.7 % 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
4Last MonthFeb 2025
22 months agoJan 2025
+100.0 %
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%
200
0.0%
378
+14.3%
467
+16.7%
521
-50.0%

Summary: Penhook 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 remained the same. The inventory for 3 bedroom homes increased by +14.3%. The inventory for 4 bedroom homes increased by +16.7%. The inventory for 5 bedroom homes decreased by -50.0%.

Asking Price vs. Sold Price

How much do homes in Penhook, 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 Price4 Homes

Insight

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

Summary: A total of 4 homes were sold or pending in Penhook in February 2025, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for Penhook, VA

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

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
0 DaysThis YearFeb 2025
74 Days1 year agoFeb 2024
0.0 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Penhook had an average listing age of 0 days in Feb 2025, down by .0% compared to the previous year.

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Newest Listings in Penhook, VA

What homes are available in Penhook, VA?

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Nearby markets

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Roanoke Valley Association of Realtors MLS, for the period 03/01/2023 - 03/01/2025

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: 3/11/2025, 9:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.