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Is Oakwood, VA 24631 a buyer’s or seller’s market?

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

Oakwood is a buyer’s market. With about 16 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply16Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list97.5%Sold price ÷ list price
Median days on market253Listing to accepted offer
Median price per sq ft$77▲ +17.3% vs. last year

The Oakwood housing market right now

In the three months ending August 31, 2026, 0% of homes in Oakwood, VA 24631 sold above their list price, the typical home went under contract in 253 days and there were 16 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 was about the same (0% then), homes sold more slowly (55 days then) and the median sale price rose 245% to $189,918. Overall, Oakwood is less competitive than a year ago, which gives buyers more room.

Run the numbers for 24631

Prefilled for 24631Can I win this house?Multiple-offer likelihood for a listing Prefilled for 24631Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Davenport 24239 — /sq ftGrundy 24614Balanced $91 /sq ftHurley 24620 — /sq ftJewell Ridge 24622Seller’s market $64 /sq ft Browse all markets →

Towns like Oakwood nearby

Find towns like Oakwood in other states →
Norton, VA24273 · 40 miles away82% similarpricier homes ($43K more) · larger Pineville, WV24874 · 36 miles away81% similarpricier homes ($30K more) Jenkins, KY41537 · 36 miles away80% similarolder residents · 7 min longer commute Belfry, KY41514 · 33 miles away77% similarolder residents · more homeowners

Where Oakwood is

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Questions about Oakwood real estate

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

A buyer’s market: there were 16 months of supply in Oakwood, VA 24631 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 Oakwood?

The typical home went under contract in 253 days in the latest three months.

Do homes in Oakwood sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 97.5% of the list price.

What are property taxes in Oakwood?

About 0.44% of a home’s value a year in Buchanan County, or roughly $1,760 on a $400,000 home.

What is the median home price in Oakwood?

The median sale price was $189,918 in the three months ending August 31, 2026, about $77 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