Is Roanoke, 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, Roanoke has remained a Seller's Market.
Housing Prices in Roanoke, VA
How much do homes in Roanoke, VA cost?
Median Sold Price
$255,131
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Roanoke was $255,131 in March 2024, up 14.2% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $116K | $146.2K | +26.1% |
2 Bedrooms | $150.8K | $175K | +16.0% |
3 Bedrooms | $216.3K | $245K | +13.3% |
4 Bedrooms | $288K | $327.3K | +13.7% |
5+ Bedrooms | $410K | $460K | +12.2% |
Summary: Roanoke housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.1%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 12.2%.
Median Sold Price Compared To Nearby Cities
Vinton | $236K | $285K | +20.7% |
Salem | $254K | $291.8K | +14.9% |
Roanoke | $223.3K | $255.1K | +14.2% |
Hollins | $282K | $307.5K | +9.0% |
Cave Spring | $315K | $316K | 0.3% |
Housing Supply in Roanoke, VA
How many homes are available in Roanoke, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
480 | 631 | +31.5% |
Summary: The Roanoke real estate market had 631 homes for sale in March 2024, a 31.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 7 | +75.0% |
2 Bedrooms | 82 | 92 | +12.2% |
3 Bedrooms | 248 | 305 | +23.0% |
4 Bedrooms | 114 | 171 | +50.0% |
5+ Bedrooms | 32 | 56 | +75.0% |
Summary: The Roanoke housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 23%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
117 | 149 | +27.4% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Summary: A total of 149 homes were sold or pending in Roanoke in March 2024, up by 27.4% month-over-month. Of the 149 sold homes, 38% were sold under asking, 22% were sold at asking, and 40% were sold over asking.
Days on Market for Roanoke, VA
How long does it take to sell a home in Roanoke, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
7 Days | 12 Days | +70.5% |
Summary: Homes in Roanoke had an average of 12 days on market in Mar 2024, up by 70.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 149 homes were sold in Roanoke; 2% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.