Smith River Housing Market Report February 2025•Patrick County, Virginia

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Housing Prices in Smith River, VA

How much do homes in Smith River, VA cost?

Housing Market Conditions

Is Smith River, 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

Smith River is a Neutral Market

Difference Since February 2024

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

Insight

Smith River 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.
$277,450$195/SqFt
+$28,450
+11.4%

Based on all homes sold in the last 12 months

Insight

Homes in Smith River have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Smith River was $277,450 in February 2025, up 11.4% from last year, and the median price per square foot was $195.

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$235K$289.9K
+23.4%
2$230K$217.4K
-5.5%
3$249K$312.3K
+25.4%
4$425K$263K
-38.1%
5--
N/A

Summary: Smith River housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +23.4%. The home price for 2 bedroom homes decreased by -5.5%. The home price for 3 bedroom homes increased by +25.4%. The home price for 4 bedroom homes decreased by -38.1%. The home price for 5 bedroom homes did not change.

Housing supply in Smith River, VA

How many homes are available in Smith River, 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
82 months agoJan 2025
-12.5 %
Change MoMJan – Feb

Summary: The Smith River real estate market had 7 homes for sale in Feb 2025, a 12.5 % 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
12 months agoJan 2025
0.0 %
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
111
0.0%
210
-100.0%
344
0.0%
411
0.0%
511
0.0%

Summary: Smith River 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 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 Smith River, 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 Smith River, 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 Smith River in February 2025, the same as the previous 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 Smith River, VA

How long does it take to sell a home in Smith River, 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
85 Days1 year agoFeb 2024
0.0 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Smith River 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 Smith River, VA

What homes are available in Smith River, VA?

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MLS Disclaimers and Copyright

Based on information from Roanoke Valley Association of Realtors MLS, Triad MLS Inc, and Central Virginia Regional 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: 3/10/2025, 6:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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: 3/10/2025, 6:20:47 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: 3/10/2025, 6:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.