$4,156 Closing Credit*
$350,000
1,792 SqFt
3 Beds
•1 Full Bath
Listing Office: MOUNTAIN TO LAKE REALTY
Is Ferrum, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Ferrum was a Seller's Market.
Key Takeaway
Ferrum is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Ferrum, VA
How much do homes in Ferrum, VA cost?
Median Sold Price
$272,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$62,000(+29.5%)
Key Takeaway
Homes in Ferrum have sold for 29.5% more than they did a year ago.
Summary: The median home sold price in Ferrum was $272,500 in November 2024, up 29.5% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $199.9K | $314.7K | +57.4% |
| 3 Bedrooms | $210.5K | $230K | +9.3% |
| 4 Bedrooms | $312K | $439.1K | +40.8% |
| 5+ Bedrooms | - | - | N/A |
Summary: Ferrum housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 57.4%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 40.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Ferrum | $210.5K | $272.5K | +29.5% |
| Blue Ridge | $333.2K | $340K | +2.0% |
Housing Supply in Ferrum, VA
How many homes are available in Ferrum, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Summary: The Ferrum real estate market had 12 homes for sale in November 2024, a 9.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Ferrum 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 remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ferrum, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Ferrum in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Ferrum, 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.