Inventory in Tazewell County has held fairly steady, with about 153 active listings in May, almost unchanged from a year ago. New listings, however, have fallen nearly 21 percent year over year, suggesting fewer homeowners are putting properties on the market. Even with this slower flow of new options, homes sold in May were down about a third from last year, signaling a moderated pace of closed sales.
Prices are responding differently than activity levels. The typical home value reached about $214,000 in May, up more than 38 percent from a year earlier, while the median list price rose a more modest 12 percent. Sellers are, on average, receiving about 94.7 percent of their list price, and only about 5 percent of homes are closing above asking.
Time on market and available supply also point to shifting dynamics. The median days on market has tightened sharply compared with earlier in the year, down from 144 days in April to 68 days in May, and months of supply has dropped from 8.7 to 6.3 over the same period, leaving Tazewell County in neutral territory compared with Virginia’s leaner 2.6 months of supply. With these mixed signals on pricing, inventory, and speed, both buyers and sellers can benefit from Agent Pronto’s help in finding an agent who understands the latest local trends.
