Is Cave Spring, 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, 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
$316,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Cave Spring has remained the same since last year.
Summary: The median home sold price in Cave Spring was $316,000 in March 2024, up 0.3% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113.9K | $135.5K | +19.0% |
| 2 Bedrooms | $165.5K | $180K | +8.8% |
| 3 Bedrooms | $292K | $300K | +2.7% |
| 4 Bedrooms | $406.8K | $367.5K | -9.7% |
| 5+ Bedrooms | $417K | $480.5K | +15.2% |
Summary: Cave Spring housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Cities
| Blackwater | $292.5K | $343.4K | +17.4% |
| Roanoke | $223.3K | $255.1K | +14.2% |
| Windsor Hills | $350K | $371.2K | +6.1% |
| Boone | $296K | $304.2K | +2.8% |
| Cave Spring | $315K | $316K | 0.3% |
Housing Supply in Cave Spring, VA
How many homes are available in Cave Spring, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 58 | 73 | +25.9% |
Summary: The Cave Spring real estate market had 73 homes for sale in March 2024, a 25.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 12 | 14 | +16.7% |
| 3 Bedrooms | 29 | 29 | 0.0% |
| 4 Bedrooms | 10 | 17 | +70.0% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Cave Spring 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 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 70%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cave Spring, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 14 homes were sold or pending in Cave Spring in March 2024, down by 12.5% month-over-month. Of the 14 sold homes, 36% were sold under asking, 43% were sold at asking, and 21% 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
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.