Lake of the Woods, VA Housing Market
AI-powered market intelligence for the Lake of the Woods, VA metro area.
PropertyIQ Scores
Lake of the Woods, VA Market Analysis
Market Overview
Lake of the Woods, VA posts a PropertyIQ Score of 51/100, placing it in a moderate middle zone rather than a strongly seller- or buyer-favored market. The score’s top drivers are a median days-on-market of 47 days and a 22.5% share of listings with a price cut. Those two figures suggest a market that is moving at a measured pace: homes are not lingering for months on average, but more than one in five listings has reduced asking price, signaling that sellers still need to stay disciplined on pricing.
Compared with state benchmarks, Lake of the Woods has a higher median home value of $459,225 versus the state average of $418,375, a difference of $40,850. At the same time, the rent index of $1,145 is below the state average of $1,514, and the median household income of $94,175 is above the state average of $90,974. The unemployment rate is 3.7%, matching the state benchmark. This combination gives the area a mixed profile: ownership prices and incomes run above state norms, while the rent index runs below.
The year-over-year median home value change is -$2, essentially flat, and population growth is not available in the provided data. With 242 homes for sale, the market offers a measurable supply, though no benchmark is provided to say whether that inventory is high or low relative to the state.
Key Trends
The median home value of $459,225 is $2 lower than a year ago. That is essentially no change, indicating that home values have been stable rather than appreciating or correcting meaningfully over the past year.
With a median days-on-market of 47 days and a 22.5% share of listings with a price cut, the market is not overheated. Nearly a quarter of listings have reduced price, which suggests buyers have some room to negotiate, while 47 days means well-priced homes still sell within about a month and a half.
There is also an affordability divergence. The median home value is about 9.8% above the state average, while the median household income is about 3.5% above the state average. That makes ownership slightly more income-intensive locally, with a local price-to-income ratio of about 4.9 compared with about 4.6 at the state level. Meanwhile, the rent index of $1,145 is about 24.4% below the state average of $1,514, meaning local rents are lower than state norms.
Finally, the labor market appears stable. The unemployment rate of 3.7% matches the state average, and the median household income of $94,175 is above the state benchmark of $90,974, supporting a base of local purchasing power.
Who Is This Market For
Given the moderate PropertyIQ Score of 51/100, Lake of the Woods is best suited to buyers who can afford a median-priced home around $459,225 and prefer a balanced market rather than a highly competitive bidding environment. Move-up buyers may find the combination of above-state-average incomes and moderate days on market attractive: they can take time to compare homes without the pressure of extremely rapid sales, while the 22.5% price-cut share means there may be opportunity to negotiate on listings that have been sitting or priced too aggressively.
First-time buyers may face a hurdle because the median home value is $40,850 above the state average, and the local price-to-income ratio is slightly higher than the state benchmark. However, the lower rent index of $1,145 compared with the state average of $1,514 may make renting while saving for a purchase more feasible than in other parts of the state. Rent-oriented investors should note that the rent index is below the state benchmark, which may translate to lower local rent levels than state averages; they would need to weigh that against the negotiability suggested by the price-cut share and 47-day median days on market. Primary-residence buyers who value stable employment conditions may also find the 3.7% unemployment rate and $94,175 median household income supportive, though population growth data is not available to gauge future demand.
Outlook
Looking ahead, the data points to continued moderate conditions rather than a sharp upswing or downturn. The year-over-year median home value change of -$2 shows no upward price momentum, while 47 days on market and a 22.5% price-cut share indicate that sellers will likely need to remain realistic on pricing. Inventory of 242 homes for sale provides buyers with some choice, but without historical inventory data or population growth figures, the demand side cannot be fully assessed. The 3.7% unemployment rate and median household income of $94,175, both at or above state benchmarks, offer a stable economic base. As long as these conditions hold, Lake of the Woods is likely to remain a moderate, balanced market rather than one experiencing rapid appreciation or significant price declines.
AI-generated analysis based on current market data. Last updated August 22, 2026.
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Lake of the Woods, VA market data
Lake of the Woods, VA Housing Market Overview
Lake of the Woods, VA's median home value is $337K. Homes here sell in a median 47 days. Its PropertyIQ Score of 51 sits right around the state average of 50.
The Lake of the Woods, VA metro area is one of 900+ US metropolitan markets that PropertyIQ scores each month. A single PropertyIQ Score blends Zillow price momentum with Realtor.com market-flow signals to estimate 3-year excess appreciation versus the market's state — showing not just where prices stand today, but how the market is positioned relative to its peers.
The South Atlantic region continues to attract domestic migration with its combination of job growth, favorable tax environments, and year-round climate. Markets range from rapidly appreciating tech corridors to established retirement destinations with strong rental demand. Within the South Atlantic, Lake of the Woods, VA's PropertyIQ Score of 51 tracks near the South Atlantic norm.
Each month, PropertyIQ updates its score for Lake of the Woods, VA using four inputs: Zillow ZHVI twelve-month and three-month momentum, Realtor.com median days on market, and the Realtor.com share of listings with price cuts. These four signals are combined into a single 1 to 99 score computed across all metro markets and calibrated so 50 represents the state average, making it a direct read of how this market is positioned to perform relative to its state.
Explore the interactive map to see how Lake of the Woods, VA compares to neighboring metros, or view the full market dashboard for detailed analytics including time-series trends, score breakdowns, and AI-generated market reports.
Counties in the Lake of the Woods, VA metro area
Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Lake of the Woods, VA a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Lake of the Woods, VA currently scores 51, a steady-momentum reading that leaves it tracking close to its state average. For buyers, a balanced market means neither side holds a decisive edge, giving you time to shop carefully without racing the clock. Backing that up, the median home value here is $337K. So whether Lake of the Woods, VA is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Lake of the Woods, VA?
Lake of the Woods, VA's PropertyIQ Score is 51, indicating steady momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 51 places Lake of the Woods, VA above its state benchmark.
How quickly do homes sell in Lake of the Woods, VA?
In Lake of the Woods, VA, homes sell in a median of 47 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 22% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Lake of the Woods, VA market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.