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Is Hot Springs, VA 24445 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Hot Springs is a buyer’s market. With about 12.3 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply12.3Under 4 months = seller’s market
Sold above original list16.7%Share of sales, last 3 months
Median sale-to-list94.3%Sold price ÷ list price
Median days on market95Listing to accepted offer
Median price per sq ft$120▲ +17.2% vs. last year

The Hot Springs housing market right now

In the three months ending August 31, 2026, 17% of homes in Hot Springs, VA 24445 sold above their list price, the typical home went under contract in 95 days and there were 12.3 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 6 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 (99 days then) and the median sale price fell 10% to $213,158. Overall, Hot Springs is more competitive than a year ago, so tougher for buyers.

Nearby, buyers who want less competition could look at Warm Springs 24484 (0% sold over asking), while Millboro 24460 (20% sold over asking) is even more competitive.

Run the numbers for 24445

Prefilled for 24445Can I win this house?Multiple-offer likelihood for a listing Prefilled for 24445Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Millboro 24460Balanced $151 /sq ftWarm Springs 24484Buyer’s market $28 /sq ft Browse all markets →

Towns like Hot Springs nearby

Find towns like Hot Springs in other states →
Natural Bridge Station, VA24579 · 32 miles away82% similarsmaller · 5 min longer commute Marlinton, WV24954 · 24 miles away76% similaryounger residents · 6 min longer commute White Sulphur Springs, WV24986 · 27 miles away74% similarcheaper homes ($43K less) · larger Ronceverte, WV24970 · 36 miles away69% similarcheaper homes ($43K less) · larger

Where Hot Springs is

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Questions about Hot Springs real estate

Is Hot Springs a buyer’s or seller’s market?

A buyer’s market: there were 12.3 months of supply in Hot Springs, VA 24445 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 Hot Springs?

The typical home went under contract in 95 days in the latest three months.

Do homes in Hot Springs sell over asking?

17% of homes sold above their original list price, and the typical sale closed at 94.3% of the list price.

What are property taxes in Hot Springs?

About 0.39% of a home’s value a year in Bath County, or roughly $1,560 on a $400,000 home.

What is the median home price in Hot Springs?

The median sale price was $213,158 in the three months ending August 31, 2026, about $120 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