Is Independence, VA 24348 a buyer’s or seller’s market?
Independence is a buyer’s market. With about 7.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Independence housing market right now
In the three months ending August 31, 2026, 22% of homes in Independence, VA 24348 sold above their list price, the typical home went under contract in 61 days and there were 7.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 9 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold faster (69 days then) and the median sale price fell 31% to $236,143. Overall, Independence is more competitive than a year ago, so tougher for buyers.
Within Grayson County, homes here sell faster than in 50% of the county’s ZIP codes, and sell more often over asking than in 83%.
Nearby, buyers who want less competition could look at Troutdale 24378 (0% sold over asking) or Whitetop 24292 (0% sold over asking), while Elk Creek 24326 (33% sold over asking) is even more competitive.
Run the numbers for 24348
Nearby markets
Elk Creek 24326Buyer’s market $187 /sq ftFries 24330Buyer’s market $172 /sq ftGalax 24333Seller’s market $147 /sq ftMouth Of Wilson 24363Seller’s market $313 /sq ft Browse all markets →Towns like Independence nearby
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Questions about Independence real estate
Is Independence a buyer’s or seller’s market?
A buyer’s market: there were 7.8 months of supply in Independence, VA 24348 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 Independence?
The typical home went under contract in 61 days in the latest three months.
Do homes in Independence sell over asking?
22% of homes sold above their original list price, and the typical sale closed at 97.7% of the list price.
What are property taxes in Independence?
About 0.56% of a home’s value a year in Grayson County, or roughly $2,240 on a $400,000 home.
What is the median home price in Independence?
The median sale price was $236,143 in the three months ending August 31, 2026, about $173 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