Is Blue Ridge, 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, Blue Ridge has remained a Seller's Market.
Key Takeaway
Blue Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Blue Ridge, VA
How much do homes in Blue Ridge, VA cost?
Median Sold Price
$319,975
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Blue Ridge have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Blue Ridge was $319,975 in May 2024, up 10.3% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135.7K | - | N/A |
| 2 Bedrooms | $174.9K | $218K | +24.6% |
| 3 Bedrooms | $280.7K | $300K | +6.9% |
| 4 Bedrooms | $405K | $365K | -9.9% |
| 5+ Bedrooms | $480K | $381.7K | -20.5% |
Summary: Blue Ridge 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 24.6%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 9.9%, and 5+ bedroom homes decreased by 20.5%.
Housing Supply in Blue Ridge, VA
How many homes are available in Blue Ridge, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 71 | +12.7% |
Summary: The Blue Ridge real estate market had 71 homes for sale in May 2024, a 12.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 34 | 36 | +5.9% |
| 4 Bedrooms | 24 | 27 | +12.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Blue Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Blue Ridge, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Blue Ridge in May 2024, up by 7.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 36% were sold at asking, and 21% were sold over asking.
Days on Market for Blue Ridge, VA
How long does it take to sell a home in Blue Ridge, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 2 Days | 140 Days | +5500.0% |
Summary: Homes in Blue Ridge had an average of 140 days on market in May 2024, up by 5500% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Blue Ridge are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 14 homes were sold in Blue Ridge; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% 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.