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Is Monterey, VA 24465 a buyer’s or seller’s market?

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

Monterey is a buyer’s market. With about 25.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply25.6Under 4 months = seller’s market
Sold above original list99.9%Share of sales, last 3 months
Median sale-to-list—Sold price ÷ list price
Median days on market14Listing to accepted offer
Median price per sq ft$357▼ −12.2% vs. last year

The Monterey housing market right now

In the three months ending August 31, 2026, 100% of homes in Monterey, VA 24465 sold above their list price, the typical home went under contract in 14 days and there were 25.6 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 rose from 0%, homes sold more slowly (8 days then) and the median sale price fell 46% to $281,556. Overall, Monterey is more competitive than a year ago, so tougher for buyers.

Run the numbers for 24465

Prefilled for 24465Can I win this house?Multiple-offer likelihood for a listing Prefilled for 24465Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Blue Grass 24413 — /sq ftHead Waters 24442 — /sq ftMc Dowell 24458 — /sq ftWilliamsville 24487 $224 /sq ft Browse all markets →

Towns like Monterey nearby

Find towns like Monterey in other states →
Fairfield, VA24435 · 40 miles away84% similarVery close on income, prices and more Raphine, VA24472 · 38 miles away79% similarpricier homes ($49K more) · larger Franklin, WV26807 · 21 miles away70% similarpricier homes ($53K more) · larger Fort Defiance, VA24437 · 38 miles away70% similarhigher income ($26K more) · pricier homes ($108K more)

Where Monterey is

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Questions about Monterey real estate

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

A buyer’s market: there were 25.6 months of supply in Monterey, VA 24465 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 Monterey?

The typical home went under contract in 14 days in the latest three months.

Do homes in Monterey sell over asking?

100% of homes sold above their original list price.

What are property taxes in Monterey?

About 0.57% of a home’s value a year in Highland County, or roughly $2,280 on a $400,000 home.

What is the median home price in Monterey?

The median sale price was $281,556 in the three months ending August 31, 2026, about $357 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