Is Blue Ridge, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$785,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Blue Ridge have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Blue Ridge was $785,000 in April 2024, up 7.2% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $830.5K | N/A |
| 2 Bedrooms | $482.5K | $519K | +7.6% |
| 3 Bedrooms | $530.2K | $619.9K | +16.9% |
| 4 Bedrooms | $775K | $793.7K | +2.4% |
| 5+ Bedrooms | $975K | $1.0M | +12.3% |
Summary: Blue Ridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 12.3%.
Median Sold Price Compared To Nearby Cities
| Hamilton | $555K | $837K | +50.8% |
| Bluemont | $477.5K | $625K | +30.9% |
| Blue Ridge | $732.5K | $785K | +7.2% |
| Purcellville | $725K | $775K | +6.9% |
Housing Supply in Blue Ridge, VA
How many homes are available in Blue Ridge, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 122 | 151 | +23.8% |
Summary: The Blue Ridge real estate market had 151 homes for sale in April 2024, a 23.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 27 | 32 | +18.5% |
| 4 Bedrooms | 53 | 66 | +24.5% |
| 5+ Bedrooms | 35 | 45 | +28.6% |
Summary: The Blue Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 | 30 | -23.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Blue Ridge, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Blue Ridge in April 2024, down by 23.1% month-over-month. Of the 30 sold homes, 37% were sold under asking, 23% were sold at asking, and 40% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 30 Days | +58.1% |
Summary: Homes in Blue Ridge had an average of 30 days on market in Apr 2024, up by 58.1% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Blue Ridge are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 30 homes were sold in Blue Ridge; 70% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 13% 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.