Comprehensive market data and analysis• Updated Oct 2026
7.5 months of supply
Market conditions are relatively balanced between buyers and sellers.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | - | - | - |
| 1-2 acres | - | - | - | - |
| 2-5 acres | - | - | - | - |
| 5-10 acres | - | - | - | - |
| 10-20 acres | 1 | 1 | 2 | 3 |
| 20-50 acres | 1 | 1 | 1 | 1 |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 2 | 2 | 3 | 4 |
Acreage buckets
The median price for land in Pennington Gap, Virginia is currently $3K per acre. For a typical parcel, the median sale price is $44K. Market volatility is currently low, meaning prices can vary minimally based on location and access. Recently, the cheapest land sold for $33K while premium lots reached $65K.
Pennington Gap, Virginia is currently a balanced market with 7.5 months of supply. Conditions favor neither buyers nor sellers significantly.
Pennington Gap, Virginia currently has 7.5 months of inventory supply. This indicates a balanced market. Low supply means competition for available properties is high.
Over the past 12 months, Pennington Gap, Virginia saw 4 properties sold, totaling $189K in sales volume. In just the last 3 months, 2 properties changed hands.
The median land price in Pennington Gap, Virginia stands at $44K. This translates to roughly $3K per acre for the typical parcel size. The average price is $47K, indicating some higher-priced properties pulling up the average.
The current absorption rate in Pennington Gap, Virginia is 13.3% (3-month basis), indicating moderate demand. The top-performing broker in this market is Century 21 Virginia Wilder Real Estate.
The 3-month absorption rate in Pennington Gap, Virginia is 13.3%. The 12-month rate is 6.7%. 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, and some transactions are reported late. The date at the top of the page is the report date. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
See land for sale and off-market property records in Pennington Gap on LandyDandy.
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