Is 24501, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 24501 has remained a Seller's Market.
Key Takeaway
24501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24501, VA
How much do homes in 24501, VA cost?
Median Sold Price
$205,166
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 24501 have sold for 5% more than they did a year ago.
Summary: The median home sold price in 24501 was $205,166 in May 2024, up 5% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $52.5K | $107.7K | +105.2% |
| 2 Bedrooms | $134.9K | $160.9K | +19.2% |
| 3 Bedrooms | $210K | $199.9K | -4.8% |
| 4 Bedrooms | $262.5K | $300.1K | +14.3% |
| 5+ Bedrooms | $270K | $287.5K | +6.5% |
Summary: 24501 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 105.2%, 2 bedroom homes increased by 19.2%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in 24501, VA
How many homes are available in 24501, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 92 | 123 | +33.7% |
Summary: The 24501 real estate market had 123 homes for sale in May 2024, a 33.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 23 | 28 | +21.7% |
| 3 Bedrooms | 37 | 52 | +40.5% |
| 4 Bedrooms | 26 | 33 | +26.9% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The 24501 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 21.7%, 3 bedroom homes increased by 40.5%, 4 bedroom homes increased by 26.9%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 40 | -14.9% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24501, you may be able to get a good deal. 42.5% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in 24501 in May 2024, down by 14.9% month-over-month. Of the 40 sold homes, 43% were sold under asking, 40% were sold at asking, and 18% were sold over asking.
Days on Market for 24501, VA
How long does it take to sell a home in 24501, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 11 Days | +27.4% |
Summary: Homes in 24501 had an average of 11 days on market in May 2024, up by 27.4% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 24501 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 40 homes were sold in 24501; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% 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.