Is 24501, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 24501 has remained a Seller's Market.
Key Takeaway
24501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24501, VA
How much do homes in 24501, VA cost?
Median Sold Price
$205,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 24501 have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in 24501 was $205,000 in March 2024, up 13.9% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | $107.7K | +95.9% |
| 2 Bedrooms | $130K | $159.9K | +23.0% |
| 3 Bedrooms | $208K | $203K | -2.4% |
| 4 Bedrooms | $252.4K | $290.2K | +15.0% |
| 5+ Bedrooms | $205K | $322.5K | +57.3% |
Summary: 24501 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 95.9%, 2 bedroom homes increased by 23%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 57.3%.
Housing Supply in 24501, VA
How many homes are available in 24501, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 71 | 122 | +71.8% |
Summary: The 24501 real estate market had 122 homes for sale in March 2024, a 71.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 15 | 29 | +93.3% |
| 3 Bedrooms | 31 | 49 | +58.1% |
| 4 Bedrooms | 19 | 36 | +89.5% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 24501 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 93.3%, 3 bedroom homes increased by 58.1%, 4 bedroom homes increased by 89.5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 | 34 | +13.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24501, you may be able to get a good deal. 35.3% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in 24501 in March 2024, up by 13.3% month-over-month. Of the 34 sold homes, 35% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market for 24501, VA
How long does it take to sell a home in 24501, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 19 Days | 22 Days | +14.3% |
Summary: Homes in 24501 had an average of 22 days on market in Mar 2024, up by 14.3% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 24501 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 34 homes were sold in 24501; 68% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.