Is Botetourt County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Botetourt County is a neutral's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

Botetourt County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Botetourt County, VA

How much do homes in Botetourt County, VA cost?

Median Sold Price

$335,000

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$7,300(+2.2%)

Key Takeaway

Homes in Botetourt County have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in Botetourt County was $335,000 in March 2024, up 2.2% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$151.5K
N/A
2 $173.4K$195K
+12.4%
3 $287K$279K
-2.8%
4 $396K$470K
+18.7%
5+ $600K$579.8K
-3.4%

Summary: Botetourt County 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 12.4%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 18.7%, and 5+ bedroom homes decreased by 3.4%.

Median Sold Price Compared To Nearby Counties

Alleghany County
+11.9%
Bedford County
+6.8%
Botetourt County
+2.2%

Housing Supply in Botetourt County, VA

How many homes are available in Botetourt County, VA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
70107+52.9%

Summary: The Botetourt County real estate market had 107 homes for sale in March 2024, a 52.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 12
+100.0%
2 1016
+60.0%
3 2843
+53.6%
4 1730
+76.5%
5+ 1416
+14.3%

Summary: The Botetourt County 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 60%, 3 bedroom homes increased by 53.6%, 4 bedroom homes increased by 76.5%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
917+88.9%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Botetourt County, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Botetourt County in March 2024, up by 88.9% month-over-month. Of the 17 sold homes, 47% were sold under asking, 24% were sold at asking, and 29% were sold over asking.

Days on Market for Botetourt County, 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 11 Days Ago

Newest Listings in Botetourt County, VA

Nearby Markets to Botetourt County, VA

What housing markets are near Botetourt County, VA?