Is Cave Spring, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cave Spring is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Cave Spring has remained a Seller's Market.

Key Takeaway

Cave Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cave Spring, VA

How much do homes in Cave Spring, VA cost?

Median Sold Price

$331,000

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$16,000(+5.1%)

Key Takeaway

Homes in Cave Spring have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in Cave Spring was $331,000 in September 2024, up 5.1% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $121K$141K
+16.5%
2 $172.2K$189.2K
+9.9%
3 $280K$319.5K
+14.1%
4 $385K$417.5K
+8.4%
5+ $460K$502.2K
+9.2%

Summary: Cave Spring housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Cities

Blackwater
+8.4%
Roanoke
+8.0%
Cave Spring
+5.1%
Boone
+4.8%
Windsor Hills
+1.8%

Housing Supply in Cave Spring, VA

How many homes are available in Cave Spring, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7885+9.0%

Summary: The Cave Spring real estate market had 85 homes for sale in September 2024, a 9.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 22
0.0%
2 1114
+27.3%
3 2726
-3.7%
4 2932
+10.3%
5+ 911
+22.2%

Summary: The Cave Spring housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3118-41.9%

Asking Price vs. Sold Price

9 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 Cave Spring, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Cave Spring in September 2024, down by 41.9% month-over-month. Of the 18 sold homes, 50% were sold under asking, 22% were sold at asking, and 28% were sold over asking.

Days on Market for Cave Spring, 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 30 Days Ago

Newest Listings in Cave Spring, VA

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