$249,900
1.63 Acres
Land
Listing Office: REALTY ONE GROUP LEADING EDGE
Is Cave Spring, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,550(+6.8%)
Key Takeaway
Homes in Cave Spring have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Cave Spring was $339,500 in November 2024, up 6.8% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113.5K | $142K | +25.1% |
| 2 Bedrooms | $175K | $192.5K | +10.0% |
| 3 Bedrooms | $282.2K | $318.7K | +12.9% |
| 4 Bedrooms | $370K | $420K | +13.5% |
| 5+ Bedrooms | $480.5K | $523.7K | +9.0% |
Summary: Cave Spring housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.1%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Cities
| Roanoke | $254.2K | $275K | +8.2% |
| Cave Spring | $317.9K | $339.5K | +6.8% |
| Boone | $315K | $330K | +4.8% |
| Windsor Hills | $379K | $375K | -1.1% |
| Blackwater | $333.6K | $330K | -1.1% |
Housing Supply in Cave Spring, VA
How many homes are available in Cave Spring, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 82 | +22.4% |
Summary: The Cave Spring real estate market had 82 homes for sale in November 2024, a 22.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 14 | 21 | +50.0% |
| 3 Bedrooms | 18 | 20 | +11.1% |
| 4 Bedrooms | 26 | 27 | +3.8% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Cave Spring housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cave Spring, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Cave Spring in November 2024, up by 12.5% month-over-month. Of the 18 sold homes, 39% were sold under asking, 11% were sold at asking, and 50% were sold over asking.
Days on Market for Cave Spring, VA
We’re sorry, we don't have information for this market at the moment
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