Comprehensive market data and analysis• Updated Dec 2025
9.0 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | 3 | 7 | 25 |
| 1-2 acres | - | 1 | 4 | 7 |
| 2-5 acres | - | - | - | 1 |
| 5-10 acres | - | - | - | - |
| 10-20 acres | - | - | - | - |
| 20-50 acres | 1 | 2 | 2 | 3 |
| 50-100 acres | - | 1 | 1 | 1 |
| 100+ acres | - | 1 | 1 | 1 |
| TOTAL | 1 | 8 | 15 | 38 |
Acreage buckets
The median price for land in Penhook, Virginia is currently $105K per acre. For a typical parcel, the median sale price is $73K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $28K while premium lots reached $650K.
Penhook, Virginia is currently a buyer's market with 9.0 months of supply. Buyers have more negotiating power and can take time to find the right property.
Penhook, Virginia currently has 9.0 months of inventory supply. This indicates a buyer's market. Low supply means competition for available properties is high.
Land in Penhook, Virginia averages $403K per acre. The median price per acre is $105K, which may be more representative of typical transactions. Most parcels sold are around 31,465 sq ft.
The current absorption rate in Penhook, Virginia is 11.1% (3-month basis), indicating moderate demand. The top-performing broker in this market is OUT OF AREA BROKER.
There are currently 24 active listings in Penhook, Virginia. 6 new listings have hit the market in the last 90 days. The median asking price is $78K.
The 3-month absorption rate in Penhook, Virginia is 11.1%. The 12-month rate is 13.2%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
