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Is Castlewood, VA 24224 a buyer’s or seller’s market?

Balanced 3 months ending August 31, 2026 · Source: Redfin

Castlewood is a balanced market. With about 4.6 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply4.6Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list92.7%Sold price ÷ list price
Median days on market65Listing to accepted offer
Median price per sq ft$112▲ +22.7% vs. last year

The Castlewood housing market right now

In the three months ending August 31, 2026, 0% of homes in Castlewood, VA 24224 sold above their list price, the typical home went under contract in 65 days and there were 4.6 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 7 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 more slowly (63 days then) and the median sale price rose 67% to $174,924. Overall, Castlewood is about as competitive as it was a year ago.

Run the numbers for 24224

Prefilled for 24224Can I win this house?Multiple-offer likelihood for a listing Prefilled for 24224Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Cleveland 24225Buyer’s market $252 /sq ftHonaker 24260Buyer’s market $141 /sq ftLebanon 24266Buyer’s market $135 /sq ftRosedale 24280 — /sq ft Browse all markets →

Towns like Castlewood nearby

Find towns like Castlewood in other states →
Cedar Bluff, VA24609 · 33 miles away95% similarpricier homes ($38K more) Clintwood, VA24228 · 21 miles away94% similarVery close on income, prices and more Saltville, VA24370 · 30 miles away92% similarolder homes Pound, VA24279 · 23 miles away89% similarVery close on income, prices and more

Where Castlewood is

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Questions about Castlewood real estate

Is Castlewood a buyer’s or seller’s market?

A balanced market: there were 4.6 months of supply in Castlewood, VA 24224 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 Castlewood?

The typical home went under contract in 65 days in the latest three months.

Do homes in Castlewood sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 92.7% of the list price.

What are property taxes in Castlewood?

About 0.48% of a home’s value a year in Russell County, or roughly $1,920 on a $400,000 home.

What is the median home price in Castlewood?

The median sale price was $174,924 in the three months ending August 31, 2026, about $112 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