Is Peaks, 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, Peaks was a Seller's Market.
Key Takeaway
Peaks is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Peaks, VA
How much do homes in Peaks, VA cost?
Median Sold Price
$290,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Peaks have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Peaks was $290,000 in March 2024, up 5.5% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $259.9K | - | N/A |
| 2 Bedrooms | $175.5K | $235K | +33.9% |
| 3 Bedrooms | $294.2K | $240K | -18.4% |
| 4 Bedrooms | $340K | $424.9K | +25.0% |
| 5+ Bedrooms | $350K | $630K | +80.0% |
Summary: Peaks 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 33.9%, 3 bedroom homes decreased by 18.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 80%.
Median Sold Price Compared To Nearby Cities
| Center | $305K | $340K | +11.5% |
| Peaks | $275K | $290K | +5.5% |
Housing Supply in Peaks, VA
How many homes are available in Peaks, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 44 | +29.4% |
Summary: The Peaks real estate market had 44 homes for sale in March 2024, a 29.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 7 | 12 | +71.4% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 10 | 15 | +50.0% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Peaks housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 71.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peaks, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Peaks in March 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Peaks, VA
How long does it take to sell a home in Peaks, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 61 Days | 47 Days | -23.2% |
Summary: Homes in Peaks had an average of 47 days on market in Mar 2024, down by 23.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Peaks are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Peaks; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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.