Is 24502, 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, 24502 has remained a Seller's Market.
Key Takeaway
24502 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24502, VA
How much do homes in 24502, VA cost?
Median Sold Price
$275,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 24502 have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in 24502 was $275,000 in May 2024, up 9.9% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172.5K | $189.9K | +10.1% |
| 3 Bedrooms | $250K | $279.9K | +12.0% |
| 4 Bedrooms | $272K | $299.9K | +10.3% |
| 5+ Bedrooms | $372.5K | $516.9K | +38.8% |
Summary: 24502 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 38.8%.
Housing Supply in 24502, VA
How many homes are available in 24502, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 99 | 185 | +86.9% |
Summary: The 24502 real estate market had 185 homes for sale in May 2024, a 86.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 16 | 36 | +125.0% |
| 3 Bedrooms | 58 | 96 | +65.5% |
| 4 Bedrooms | 18 | 36 | +100.0% |
| 5+ Bedrooms | 7 | 17 | +142.9% |
Summary: The 24502 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 125%, 3 bedroom homes increased by 65.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 142.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 49 | +11.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24502, expect to pay close to the asking price. 40.8% of homes here sold near the asking price last month.
Summary: A total of 49 homes were sold or pending in 24502 in May 2024, up by 11.4% month-over-month. Of the 49 sold homes, 22% were sold under asking, 41% were sold at asking, and 37% were sold over asking.
Days on Market for 24502, VA
How long does it take to sell a home in 24502, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 10 Days | +7.0% |
Summary: Homes in 24502 had an average of 10 days on market in May 2024, up by 7% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 24502 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 49 homes were sold in 24502; 92% of homes were sold within 30 days, 8% 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. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.