#9979346, Tim Gardner, Listing Office: Century 21 Bennett & Edwards
Pennington Gap Housing Market Report March 2025•Lee County, Virginia
Housing Prices in Pennington Gap, VA
How much do homes in Pennington Gap, VA cost?
Housing Market Conditions
Is Pennington Gap, VA a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Pennington Gap is a Neutral Market
Difference Since March 2024
At the same time last year, Pennington Gap was a Seller's Market.
Pennington Gap 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
Based on all homes sold in the last 12 months
Homes in Pennington Gap have sold for 36% more than they did a year ago.
Summary: The median home sold price in Pennington Gap was $136,000 in March 2025, up 36% from last year, and the median price per square foot was $83.
Median Sold Price By Bedrooms
Beds | Mar 2024 | Mar 2025 | Change YoY |
---|---|---|---|
11 Bedroom | - | - | N/A |
22 Bedrooms | $65K | $82.5K | +26.9% |
33 Bedrooms | $100K | $122.5K | +22.6% |
44 Bedrooms | $199.9K | $249.9K | +25.0% |
55+ Bedrooms | $196K | $177.5K | -9.4% |
Summary: Pennington Gap 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 +26.9%. The home price for 3 bedroom homes increased by +22.6%. The home price for 4 bedroom homes increased by +25.0%. The home price for 5 bedroom homes decreased by -9.4%.
How does Pennington Gap, VA compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
Pennington Gap, VA
Housing supply in Pennington Gap, VA
How many homes are available in Pennington Gap, VA?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
20Last MonthMar 2025 | ||
202 months agoFeb 2025 | 0.0 % Change MoMFeb – Mar |
Summary: The Pennington Gap real estate market had 20 homes for sale in Mar 2025, the same as Feb 2025
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
3Last MonthMar 2025 | ||
12 months agoFeb 2025 | +200.0 % Change MoMFeb – Mar |
Homes For Sale By Bedroom Count
Beds | Feb 2025 | Mar 2025 | Change MoM |
---|---|---|---|
11 Bedroom | 0 | 0 | 0.0% |
22 Bedrooms | 3 | 3 | 0.0% |
33 Bedrooms | 12 | 13 | +8.3% |
44 Bedrooms | 5 | 4 | -20.0% |
55+ Bedrooms | 0 | 0 | 0.0% |
Summary: Pennington Gap 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 remained the same. The inventory for 3 bedroom homes increased by +8.3%. The inventory for 4 bedroom homes decreased by -20.0%. The inventory for 5 bedroom homes remained the same.
Asking Price vs. Sold Price
How much do homes in Pennington Gap, VA cost?
Over Asking Price0 Home
At Asking Price0 Home
Under Asking Price3 Homes
If you're buying a home in Pennington Gap, 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 Pennington Gap in March 2025, up by 200.0% 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 Pennington Gap, VA
How long does it take to sell a home in Pennington Gap, VA?
Breakdown of Home Sale Times
Under 30 Days0 Home
30 – 90 Days1 Home
Over 90 Days2 Homes
Most homes in Pennington Gap are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2025, 3 homes were sold in Pennington Gap; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
154 DaysThis YearMar 2025 | ||
247 Days1 year agoMar 2024 | -37.7 % Change YoYMar 2024 – Mar 2025 |
Summary: Homes in Pennington Gap had an average listing age of 154 days in Mar 2025, down by 37.7% compared to the previous year.
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Newest Listings in Pennington Gap, VA
What homes are available in Pennington Gap, VA?
Nearby markets
Nearby markets aren't available for Pennington Gap, VA
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MLS Disclaimers and Copyright
Based on information from Tennessee Virginia Regional MLS, and East Tennessee REALTORS® MLS for the period 04/01/2023 - 04/01/2025
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: 4/26/2025, 1:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

The Knoxville Area Association of REALTORS® Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.
Information deemed reliable but not guaranteed. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.
Copyright © 2025 Knoxville Area Association of REALTORS® Multiple Listing Service.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/26/2025, 1:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.