Comprehensive market data and analysis• Updated Dec 2025
13.5 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | - | - | - |
| 1-2 acres | - | - | - | - |
| 2-5 acres | - | - | - | - |
| 5-10 acres | - | - | - | - |
| 10-20 acres | 1 | 1 | 1 | 1 |
| 20-50 acres | - | 1 | 2 | 2 |
| 50-100 acres | - | - | - | 1 |
| 100+ acres | - | - | - | - |
| TOTAL | 1 | 2 | 3 | 4 |
Acreage buckets
The median price for land in Pennington Gap, Virginia is currently $1K per acre. For a typical parcel, the median sale price is $64K. Market volatility is currently moderate, meaning prices can vary moderately based on location and access. Recently, the cheapest land sold for $32K while premium lots reached $79K.
Pennington Gap, Virginia is currently a strong buyer's market with 13.5 months of supply. Buyers have more negotiating power and can take time to find the right property.
Pennington Gap, Virginia currently has 13.5 months of inventory supply. This indicates a strong buyer's market. This balanced supply gives both buyers and sellers fair opportunities.
Over the past 12 months, Pennington Gap, Virginia saw 4 properties sold, totaling $231K in sales volume. In just the last 3 months, 2 properties changed hands.
The median land price in Pennington Gap, Virginia stands at $64K. This translates to roughly $1K per acre for the typical parcel size. The average price is $58K, showing a fairly consistent market.
The current absorption rate in Pennington Gap, Virginia is 7.4% (3-month basis), indicating slow 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 7.4%. The 12-month rate is 3.7%. 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. 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.