Is 24550, 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, 24550 has remained a Seller's Market.
Key Takeaway
24550 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24550, VA
How much do homes in 24550, VA cost?
Median Sold Price
$317,900
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 24550 have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in 24550 was $317,900 in March 2024, up 3.3% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | - | N/A |
| 2 Bedrooms | $119.5K | $185K | +54.7% |
| 3 Bedrooms | $242.9K | $292.1K | +20.3% |
| 4 Bedrooms | $401K | $434.9K | +8.5% |
| 5+ Bedrooms | $520K | $460K | -11.5% |
Summary: 24550 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 54.7%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 11.5%.
Housing Supply in 24550, VA
How many homes are available in 24550, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 27 | +42.1% |
Summary: The 24550 real estate market had 27 homes for sale in March 2024, a 42.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 12 | 19 | +58.3% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 24550 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 58.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 24550, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 24550 in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 24550, VA
How long does it take to sell a home in 24550, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 88 Days | 84 Days | -4.1% |
Summary: Homes in 24550 had an average of 84 days on market in Mar 2024, down by 4.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 24550 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 24550; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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.