Is Marion, VA 24354 a buyer’s or seller’s market?
Marion is a balanced market. With about 5.7 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 16% of U.S. ZIP codes, and #337 of 358 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Marion housing market right now
In the three months ending August 31, 2026, 10% of homes in Marion, VA 24354 sold above their list price, the typical home went under contract in 52 days and there were 5.7 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. That’s based on 32 home sales.
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 rose 2% to $201,413. Overall, Marion is more competitive than a year ago, so tougher for buyers.
Within Smyth County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in 75%. On our competition score, Marion ranks #337 of 358 VA ZIP codes with enough sales (score 21 out of 100).
Nearby, buyers who want less competition could look at Sugar Grove 24375 (0% sold over asking) or Atkins 24311 (0% sold over asking).
Run the numbers for 24354
Nearby markets
Atkins 24311Seller’s market $117 /sq ftChilhowie 24319Balanced $138 /sq ftSaltville 24370Buyer’s market $97 /sq ftSugar Grove 24375Seller’s market $93 /sq ft Browse all markets →Towns like Marion nearby
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Questions about Marion real estate
Is Marion a buyer’s or seller’s market?
A balanced market: there were 5.7 months of supply in Marion, VA 24354 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 Marion?
The typical home went under contract in 52 days in the latest three months.
Do homes in Marion sell over asking?
10% of homes sold above their original list price, and the typical sale closed at 97.1% of the list price.
What are property taxes in Marion?
About 0.58% of a home’s value a year in Smyth County, or roughly $2,320 on a $400,000 home.
What is the median home price in Marion?
The median sale price was $201,413 in the three months ending August 31, 2026, about $119 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