$2,007 Closing Credit*
$169,000
748 SqFt
1 Bed
•1 Full Bath
Listing Office: KELLER WILLIAMS REALTY LYNCHBURG
Is Ferrum, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Ferrum was a Seller's Market.
Key Takeaway
Ferrum is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ferrum, VA
How much do homes in Ferrum, VA cost?
Median Sold Price
$255,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,000(+15.4%)
Key Takeaway
Homes in Ferrum have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Ferrum was $255,000 in October 2024, up 15.4% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215.9K | $200.8K | -7.0% |
| 3 Bedrooms | $187.5K | $230K | +22.7% |
| 4 Bedrooms | $275K | $439.1K | +59.7% |
| 5+ Bedrooms | - | - | N/A |
Summary: Ferrum housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 59.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Ferrum | $221K | $255K | +15.4% |
| Blue Ridge | $312.5K | $329.4K | +5.4% |
Housing Supply in Ferrum, VA
How many homes are available in Ferrum, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The Ferrum real estate market had 13 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Ferrum 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ferrum, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Ferrum in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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.