Is 24503, 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, 24503 has remained a Seller's Market.
Key Takeaway
24503 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 24503, VA
How much do homes in 24503, VA cost?
Median Sold Price
$369,750
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 24503 have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in 24503 was $369,750 in May 2024, up 5.7% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.5K | $125K | +103.3% |
| 2 Bedrooms | $179.5K | $182.5K | +1.7% |
| 3 Bedrooms | $306.2K | $321.1K | +4.9% |
| 4 Bedrooms | $400K | $424.9K | +6.2% |
| 5+ Bedrooms | $538K | $575K | +6.9% |
Summary: 24503 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 103.3%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 6.9%.
Housing Supply in 24503, VA
How many homes are available in 24503, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 78 | 128 | +64.1% |
Summary: The 24503 real estate market had 128 homes for sale in May 2024, a 64.1% 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 | 5 | 14 | +180.0% |
| 3 Bedrooms | 28 | 42 | +50.0% |
| 4 Bedrooms | 30 | 50 | +66.7% |
| 5+ Bedrooms | 15 | 22 | +46.7% |
Summary: The 24503 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 180%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 46.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 22 | -15.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 24503, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 24503 in May 2024, down by 15.4% month-over-month. Of the 22 sold homes, 23% were sold under asking, 27% were sold at asking, and 50% were sold over asking.
Days on Market for 24503, VA
How long does it take to sell a home in 24503, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 14 Days | -9.6% |
Summary: Homes in 24503 had an average of 14 days on market in May 2024, down by 9.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 24503 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in 24503; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% 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. 
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