Big Stone Gap, VA—24219

As of Aug '25, the median home price in Big Stone Gap, VA is $141,000, with a year-over-year change of 2.6%. This indicates that home prices in Big Stone Gap, VA are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.

As of Aug '25 and according to Realtor.com, the median days on market for a home in Big Stone Gap, VA is 89. This is an increase of 89.0% from last year. This indicates that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 44.0%. This is a large percentage of inventory, suggesting a lot of supply pressure on home prices.

According to the latest data from the U.S. Department of Housing and Urban Development (HUD) as of 2023, the number of mortgages originated in Big Stone Gap, VA in that year was 101. 79.0% of all primary home loans were conventional, the remainder were government-backed loans, such as FHA loans. The average loan-to-value for all loans was 72.0%. Of those, 29.0% were >90% loan to value. This is considered very high, suggesting that mortgage risk is large in Big Stone Gap, VA. Investor activity in Big Stone Gap, VA is low, as 9.0% of all loans are originated by investors. In 2023, 11.0% of all loans were cash-out refinances, suggesting many homeowners are actively tapping their home's equity.