Is Roanoke, 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, Roanoke has remained a Seller's Market.
Key Takeaway
Roanoke is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Roanoke, VA
How much do homes in Roanoke, VA cost?
Median Sold Price
$260,001
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Roanoke have sold for 15.7% more than they did a year ago.
Summary: The median home sold price in Roanoke was $260,001 in April 2024, up 15.7% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116K | $134.9K | +16.3% |
| 2 Bedrooms | $155.4K | $175K | +12.6% |
| 3 Bedrooms | $216.3K | $247.9K | +14.6% |
| 4 Bedrooms | $288.9K | $332K | +14.9% |
| 5+ Bedrooms | $400K | $475.2K | +18.8% |
Summary: Roanoke housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 18.8%.
Median Sold Price Compared To Nearby Cities
| Vinton | $239.9K | $285.1K | +18.8% |
| Roanoke | $224.6K | $260K | +15.7% |
| Salem | $258.9K | $294.9K | +13.9% |
| Hollins | $284.9K | $307.5K | +7.9% |
| Cave Spring | $323.3K | $315K | -2.6% |
Housing Supply in Roanoke, VA
How many homes are available in Roanoke, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 540 | 692 | +28.1% |
Summary: The Roanoke real estate market had 692 homes for sale in April 2024, a 28.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 74 | 89 | +20.3% |
| 3 Bedrooms | 266 | 325 | +22.2% |
| 4 Bedrooms | 147 | 203 | +38.1% |
| 5+ Bedrooms | 46 | 67 | +45.7% |
Summary: The Roanoke housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 20.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 38.1%, and 5+ bedroom homes increased by 45.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 175 | 144 | -17.7% |
Asking Price vs. Sold Price
46 Homes Were Sold
Under Asking
44 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Roanoke, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.
Summary: A total of 144 homes were sold or pending in Roanoke in April 2024, down by 17.7% month-over-month. Of the 144 sold homes, 32% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for Roanoke, VA
We’re sorry, we don't have information for this market at the moment
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.