$3,087 Closing Credit*
$259,950
1,254 SqFt
3 Beds
•1 Full Bath
Listing Office: MOUNTAIN VIEW REAL ESTATE LLC
Is Cave Spring, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cave Spring has remained a Seller's Market.
Key Takeaway
Cave Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cave Spring, VA
How much do homes in Cave Spring, VA cost?
Median Sold Price
$339,500
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,000(+7.6%)
Key Takeaway
Homes in Cave Spring have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Cave Spring was $339,500 in October 2024, up 7.6% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121K | $141K | +16.5% |
| 2 Bedrooms | $174K | $191.2K | +9.9% |
| 3 Bedrooms | $280K | $318K | +13.6% |
| 4 Bedrooms | $377.5K | $440K | +16.6% |
| 5+ Bedrooms | $477.5K | $507.5K | +6.3% |
Summary: Cave Spring housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 16.6%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Blackwater | $306K | $330K | +7.8% |
| Cave Spring | $315.5K | $339.5K | +7.6% |
| Roanoke | $253K | $271.4K | +7.2% |
| Boone | $315K | $330K | +4.8% |
| Windsor Hills | $373.7K | $378.7K | +1.3% |
Housing Supply in Cave Spring, VA
How many homes are available in Cave Spring, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 72 | 85 | +18.1% |
Summary: The Cave Spring real estate market had 85 homes for sale in October 2024, a 18.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 11 | 20 | +81.8% |
| 3 Bedrooms | 24 | 22 | -8.3% |
| 4 Bedrooms | 24 | 30 | +25.0% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Cave Spring 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 81.8%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 15 | -25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cave Spring, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Cave Spring in October 2024, down by 25.0% month-over-month. Of the 15 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Cave Spring, VA
How long does it take to sell a home in Cave Spring, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 3 Days | -72.7% |
Summary: Homes in Cave Spring had an average of 3 days on market in Oct 2024, down by 72.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cave Spring are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in Cave Spring; 7% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved