Is Blue Ridge, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Blue Ridge was a Neutral Market.
Key Takeaway
Blue Ridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Blue Ridge, VA
How much do homes in Blue Ridge, VA cost?
Median Sold Price
$777,200
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Blue Ridge have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Blue Ridge was $777,200 in March 2024, up 6.3% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $830.5K | N/A |
| 2 Bedrooms | $462K | $542K | +17.3% |
| 3 Bedrooms | $533K | $610K | +14.4% |
| 4 Bedrooms | $790K | $787.5K | -0.3% |
| 5+ Bedrooms | $973K | $1.0M | +7.9% |
Summary: Blue Ridge 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 17.3%, 3 bedroom homes increased by 14.4%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Hamilton | $527.5K | $815K | +54.5% |
| Bluemont | $495K | $612K | +23.6% |
| Purcellville | $710K | $771.4K | +8.7% |
| Blue Ridge | $731.2K | $777.2K | +6.3% |
| Round Hill | $902.1K | $785K | -13.0% |
Housing Supply in Blue Ridge, VA
How many homes are available in Blue Ridge, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 235 | 265 | +12.8% |
Summary: The Blue Ridge real estate market had 265 homes for sale in March 2024, a 12.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 46 | 55 | +19.6% |
| 4 Bedrooms | 90 | 105 | +16.7% |
| 5+ Bedrooms | 85 | 93 | +9.4% |
Summary: The Blue Ridge housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 9.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 32 | +100.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Blue Ridge, you could pay more than the asking price. 46.9% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in Blue Ridge in March 2024, up by 100.0% month-over-month. Of the 32 sold homes, 31% were sold under asking, 22% were sold at asking, and 47% were sold over asking.
Days on Market for Blue Ridge, VA
How long does it take to sell a home in Blue Ridge, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 21 Days | -5.8% |
Summary: Homes in Blue Ridge had an average of 21 days on market in Mar 2024, down by 5.8% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Blue Ridge are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in Blue Ridge; 78% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 13% 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.