Smyth County Housing Market Report May 2025•Smyth County, Virginia

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Housing Prices in Smyth County, VA

How much do homes in Smyth County, VA cost?

Housing Market Conditions

Is Smyth 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

Smyth County is a Seller's Market

Difference Since May 2024

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

Insight

Smyth 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.
$194,950$127/SqFt
+$25,450
+15.0%

Based on all homes sold in the last 12 months

Insight

Homes in Smyth County have sold for 15% more than they did a year ago.

Summary: The median home sold price in Smyth County was $194,950 in May 2025, up 15% from last year, and the median price per square foot was $127.

Median Sold Price By Counties

Median Sold Price By Counties
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
Bland County
+21.9%
Smyth County
+15.0%
Wythe County
+6.5%
Tazewell County
+5.6%
Grayson County
+0.9%

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.
BedsMay 2024May 2025Change YoY
1$113.5K$168.5K
+48.5%
2$84.9K$130.5K
+53.7%
3$175K$195K
+11.4%
4$220K$277K
+25.9%
5$237.5K$275K
+15.8%

Summary: Smyth County housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes increased by +48.5%. The home price for 2 bedroom homes increased by +53.7%. The home price for 3 bedroom homes increased by +11.4%. The home price for 4 bedroom homes increased by +25.9%. The home price for 5 bedroom homes increased by +15.8%.

How does Smyth County, VA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Smyth County, VA

Housing supply in Smyth County, VA

How many homes are available in Smyth 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
60Last MonthMay 2025
572 months agoApr 2025
+5.3 %
Change MoMApr – May

Summary: The Smyth County real estate market had 60 homes for sale in May 2025, a 5.3 % increase compared to Apr 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
17Last MonthMay 2025
182 months agoApr 2025
-5.6 %
Change MoMApr – May

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.
BedsApr 2025May 2025Change MoM
122
0.0%
21311
-15.4%
32934
+17.2%
478
+14.3%
565
-16.7%

Summary: Smyth County housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -15.4%. The inventory for 3 bedroom homes increased by +17.2%. The inventory for 4 bedroom homes increased by +14.3%. The inventory for 5 bedroom homes decreased by -16.7%.

Asking Price vs. Sold Price

How much do homes in Smyth 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 Price5 Homes

At Asking Price1 Home

Under Asking Price11 Homes

Insight

If you're buying a home in Smyth County, you may be able to get a good deal. 64.7% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Smyth County in May 2025, down by 5.6% month-over-month. Of the 17 sold homes, 65% were sold under asking, 6% were sold at asking, and and 29% were sold over asking.

Days on Market for Smyth County, VA

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

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days9 Homes

Over 90 Days6 Homes

Insight

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

Summary: During May 2025, 17 homes were sold in Smyth County; 6% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 35% 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.
This Year1 year agoChange YoY
86 DaysThis YearMay 2025
108 Days1 year agoMay 2024
-20.4 %
Change YoYMay 2024 – May 2025

Summary: Homes in Smyth County had an average listing age of 86 days in May 2025, down by 20.4% compared to the previous year.

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Newest Listings in Smyth County, VA

What homes are available in Smyth County, VA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Southwest Virginia Association of REALTORS® MLS, Tennessee Virginia Regional MLS, and MLS Technology Inc. for the period 06/01/2023 - 06/01/2025

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: 6/17/2025, 10:45:36 AM 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 web site comes in part from the Internet Data exchange (“IDX”) program of the Tennessee Virginia Regional MLS. IDX information is provided exclusively 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. Real estate listings held by brokerage firms other than this brokerl, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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: 6/17/2025, 10:40:37 AM 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 web site comes in part from the Internet Data exchange (“IDX”) program of Greater Tulsa Association of Realtors. Information deemed reliable but not guaranteed. Information is provided for consumers’ personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2025 Greater Tulsa Association of REALTORS® 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: 6/17/2025, 10:45:30 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.