Is Appalachia, VA 24216 a buyer’s or seller’s market?
Appalachia is a buyer’s market. With about 7.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Appalachia housing market right now
In the three months ending August 31, 2026, 0% of homes in Appalachia, VA 24216 sold above their list price, the typical home went under contract in 23 days and there were 7.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 8 sales, 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 (90 days then) and the median sale price rose 18% to $97,583. Overall, Appalachia is more competitive than a year ago, so tougher for buyers.
Within Wise County, homes here sell faster, and less often over asking, than in any other ZIP code in the county.
Nearby, Coeburn 24230 (18% sold over asking) and Wise 24293 (11% sold over asking) are even more competitive.
Run the numbers for 24216
Nearby markets
Big Stone Gap 24219Buyer’s market $106 /sq ftCoeburn 24230Buyer’s market $123 /sq ftNorton 24273Buyer’s market $89 /sq ftPound 24279Balanced $110 /sq ft Browse all markets →Towns like Appalachia nearby
Find towns like Appalachia in other states →Where Appalachia is
Loading map…
Questions about Appalachia real estate
Is Appalachia a buyer’s or seller’s market?
A buyer’s market: there were 7.2 months of supply in Appalachia, VA 24216 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Appalachia?
The typical home went under contract in 23 days in the latest three months.
Do homes in Appalachia sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 92.0% of the list price.
What are property taxes in Appalachia?
About 0.58% of a home’s value a year in Wise County, or roughly $2,320 on a $400,000 home.
What is the median home price in Appalachia?
The median sale price was $97,583 in the three months ending August 31, 2026, about $61 per square foot.
Local agents
See all agents in 24216 →No sponsored agents in 24216 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 24216
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology