Is Boone, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Boone is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Boone was a Seller's Market.

Key Takeaway

Boone is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Boone, VA

How much do homes in Boone, VA cost?

Median Sold Price

$305,900

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$12,900(+4.4%)

Key Takeaway

Homes in Boone have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Boone was $305,900 in February 2024, up 4.4% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $228.7K$222.4K
-2.8%
3 $277.5K$300K
+8.1%
4 $345.7K$336K
-2.8%
5+ $327K$390.5K
+19.4%

Summary: Boone housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 8.1%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 19.4%.

Median Sold Price Compared To Nearby Cities

Boones Mill
+37.4%
Hardy
+16.8%
Boone
+4.4%
Cave Spring
+0.9%
Gills Creek
-19.6%

Housing Supply in Boone, VA

How many homes are available in Boone, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3136+16.1%

Summary: The Boone real estate market had 36 homes for sale in February 2024, a 16.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 20
-100.0%
3 1722
+29.4%
4 810
+25.0%
5+ 44
0.0%

Summary: The Boone housing inventory by bedroom type for February 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 29.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
94-55.6%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Boone, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Boone in February 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.

Days on Market for Boone, VA

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Boone, VA

Nearby Markets to Boone, VA

What housing markets are near Boone, VA?