Is Botetourt County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Botetourt County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Botetourt County has remained a Seller's Market.

Key Takeaway

Botetourt County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Botetourt County, VA

How much do homes in Botetourt County, VA cost?

Median Sold Price

$359,998

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,998(+7.5%)

Key Takeaway

Homes in Botetourt County have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Botetourt County was $359,998 in October 2024, up 7.5% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $172K$240.5K
+39.8%
2 $190K$187.5K
-1.3%
3 $285K$313.4K
+10.0%
4 $457K$475K
+3.9%
5+ $577.4K$630K
+9.1%

Summary: Botetourt County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.8%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 9.1%.

Median Sold Price Compared To Nearby Counties

Craig County
+29.2%
Botetourt County
+7.5%
Bedford County
+6.6%
Alleghany County
-10.4%

Housing Supply in Botetourt County, VA

How many homes are available in Botetourt County, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
107131+22.4%

Summary: The Botetourt County real estate market had 131 homes for sale in October 2024, a 22.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 914
+55.6%
3 5659
+5.4%
4 3144
+41.9%
5+ 1013
+30.0%

Summary: The Botetourt County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 55.6%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 41.9%, and 5+ bedroom homes increased by 30%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2632+23.1%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Botetourt County, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Botetourt County in October 2024, up by 23.1% month-over-month. Of the 32 sold homes, 63% were sold under asking, 31% were sold at asking, and 6% were sold over asking.

Days on Market for Botetourt County, VA

How long does it take to sell a home in Botetourt County, VA?

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days26 Days+44.4%

Summary: Homes in Botetourt County had an average of 26 days on market in Oct 2024, up by 44.4% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Botetourt County are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 32 homes were sold in Botetourt County; 6% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Botetourt County, VA

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What housing markets are near Botetourt County, VA?