Comprehensive market data and analysis
12.2 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M | ||
|---|---|---|---|---|---|---|
| No acreage data available for Pungoteague, Virginia | ||||||
The median price for land in the Virginia area is currently $24K per acre. For a typical parcel, the median sale price is $85K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $15K while premium lots reached $490K.
the Virginia area is currently a strong buyer's market with 12.2 months of supply. Buyers have more negotiating power and can take time to find the right property. Prices have increased 20.4% year-over-year.
the Virginia area currently has 12.2 months of inventory supply. This indicates a strong buyer's market. This balanced supply gives both buyers and sellers fair opportunities.
There are currently 7,125 active listings in the Virginia area. 2,527 new listings have hit the market in the last 90 days. The median asking price is $100K.
The 3-month absorption rate in the Virginia area is 8.2%. The 12-month rate is 9.3%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
Land in the Virginia area typically sells within 112 days of listing. The median time on market is 47 days. Properties are moving at a moderate pace in the current strong buyer's market.
The median land price in the Virginia area stands at $85K. This translates to roughly $24K per acre for the typical parcel size. The average price is $235K, indicating some higher-priced properties pulling up the average.
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.
