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GATE CITY, VA 24251

Real Estate Market Report  ·  Scott County
Balanced Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The GATE CITY, VA real estate market (24251) currently shows 33 active listings, with 9 pending sales. Homes are averaging 52 days on the market before going under contract.

Inventory has increased compared to last year, with 4 more homes available — giving buyers more choice.

Homes are selling faster, averaging 52 days on market compared to 81 days last year.

The median listing price has risen 30.1% year-over-year, from $220,000 to $286,225.

Whether you are buying or selling in GATE CITY, VA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 7,821  ·  Density: 25.8/mi²  ·  Median household income: $46,105

Typical home value: $126,127  ·  Homeownership: 77.5%

Market Overview

Active Listings
33
⇧ 13.8% vs 29 last year
Pending
9
27% pending ratio
Median Price
$286,225
⇧ 30.1% vs $220,000 last year
Average Price
$303,057
⇧ 20.8% vs $250,852 last year
Days on Market
52
⇩ 35.8% vs 81 days last year

Price Per Square Foot

Median $/sqft
$139
⇩ 5.4% vs $147/sqft last year
Median Home Size
2,135 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 33 this year vs 29 last year
  • Days on market: 52 now vs 81 last year

Median & Average Pricing

Year over Year
  • Median: $286,225 (+30.1% YoY)
  • Average: $303,057 (+20.8% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 22.7 miles — 505 listings ($191,511,037 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
24251Gate City, VA 242510.0 mi23$6,444,807$289,450$280,209
37665Kingsport, TN 376655.7 mi19$4,667,350$251,175$245,650
37660Kingsport, TN 376609.1 mi191$71,578,205$304,125$374,755
37642Church Hill, TN 3764211.0 mi34$15,531,234$322,500$456,801
37664Kingsport, TN 3766411.5 mi107$45,833,343$379,250$428,349
24245Dungannon, VA 2424513.5 mi5$562,625$88,000$112,525
24219Big Stone Gap, VA 2421915.3 mi31$9,326,908$240,500$300,868
37873Surgoinsville, TN 3787316.3 mi14$5,709,648$389,725$407,832
24243Dryden, VA 2424319.4 mi3$712,350$237,450$237,450
24270Mendota, VA 2427020.5 mi2$772,400$386,200$386,200
24273Norton, VA 2427321.1 mi23$4,246,559$155,550$184,633
24202Bristol, VA 2420221.6 mi39$20,675,772$289,900$530,148
24224Castlewood, VA 2422422.7 mi14$5,449,836$193,246$389,274

Frequently Asked Questions

How many homes are for sale in GATE CITY, VA 24251?

As of March 2026, there are 33 active listings in GATE CITY, VA (zip code 24251), compared to 29 the prior year.

What is the median home price in GATE CITY, VA 24251?

The median listing price in GATE CITY, VA 24251 is $286,225 as of March 2026, a 30.1% increase from $220,000 the prior year.

How long do homes stay on the market in GATE CITY, VA?

Homes in GATE CITY, VA 24251 spend an average of 52 days on the market before going under contract, compared to 81 days the prior year.

Is it a seller's or buyer's market in GATE CITY, VA 24251?

Based on current inventory and days-on-market data as of March 2026, GATE CITY, VA 24251 is currently a Balanced Market. Inventory has increased compared to last year, with 4 more homes available — giving buyers more choice. Homes are selling faster, averaging 52 days on market compared to 81 days last year.

How much can I save on real estate commission in GATE CITY, VA?

With SELL123.com's maximum 3% commission, sellers in GATE CITY, VA 24251 save an estimated $5,725 compared to a typical 5% commission on the median listing price of $286,225. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.