Is Blackwater, VA 24221 a buyer’s or seller’s market?
Blackwater is a buyer’s market. With about 16 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Blackwater housing market right now
In the three months ending August 31, 2026, 0% of homes in Blackwater, VA 24221 sold above their list price, the typical home went under contract in 29 days and there were 16 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. 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 (141 days then) and the median sale price fell 4% to $95,958. Overall, Blackwater is more competitive than a year ago, so tougher for buyers.
Within Lee County, homes here sell faster than in 83% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Ewing 24248 (33% sold over asking) is even more competitive.
Run the numbers for 24221
Nearby markets
Dryden 24243Buyer’s market $119 /sq ftEwing 24248Buyer’s market $99 /sq ftJonesville 24263Seller’s market $105 /sq ftKeokee 24265 — /sq ft Browse all markets →Where Blackwater is
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Questions about Blackwater real estate
Is Blackwater a buyer’s or seller’s market?
A buyer’s market: there were 16 months of supply in Blackwater, VA 24221 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 Blackwater?
The typical home went under contract in 29 days in the latest three months.
Do homes in Blackwater sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 80.1% of the list price.
What are property taxes in Blackwater?
About 0.60% of a home’s value a year in Lee County, or roughly $2,400 on a $400,000 home.
What is the median home price in Blackwater?
The median sale price was $95,958 in the three months ending August 31, 2026, about $107 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology