Is Pratts, VA 22731 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Pratts is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list0%Share of sales, last 3 months

Median sale-to-list98.9%Sold price ÷ list price

Median days on market73Listing to accepted offer

Median price per sq ft$182▲ +14.3% vs. last year

The Pratts housing market right now

In the three months ending August 31, 2026, 0% of homes in Pratts, VA 22731 sold above their list price and the typical home went under contract in 73 days. With only 1 sale, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (201 days then) and the median sale price rose 60% to $929,598. Overall, Pratts is more competitive than a year ago, so tougher for buyers.

Within Madison County, homes here sell more slowly than in 82% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Nearby, Reva 22735 (57% sold over asking) and Madison 22727 (31% sold over asking) are even more competitive.

About the area

Madison County, VA

Population	70
Median income	$80,208
Average income	$70,246
Owner-occupied	66% of homes
Median year built	1975

Natural hazard riskHurricanes (moderate), extreme heat (moderate), winter storms (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 22731; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 22731

Prefilled for 22731Can I win this house?Multiple-offer likelihood for a listing Prefilled for 22731Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Aroda 22709Seller’s market $220 /sq ft Banco 22711Seller’s market $497 /sq ft Brightwood 22715Seller’s market $210 /sq ft Etlan 22719Seller’s market $389 /sq ft Browse all markets →

Where Pratts is

Loading map…

Questions about Pratts real estate

How fast do homes sell in Pratts?

The typical home went under contract in 73 days in the latest three months.

Do homes in Pratts sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 98.9% of the list price.

What are property taxes in Pratts?

About 0.53% of a home’s value a year in Madison County, or roughly $2,120 on a $400,000 home.

What is the median home price in Pratts?

The median sale price was $929,598 in the three months ending August 31, 2026, about $182 per square foot.

Local agents

See all agents in 22731 →

No sponsored agents in 22731 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 22731

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Madison County property taxes Madison County loan limits Closing costs in Virginia Hottest ZIP codes in Virginia

Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

JavaScript (recommended) iframe only

<div class="offerbacked-widget" data-widget="zip" data-zip="22731"><a href="https://offerbacked.com/market/22731">Pratts, VA 22731 housing market data from OfferBacked</a></div>
<script async src="https://offerbacked.com/widget.js"></script>

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview Dark version

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology