$2,897 Closing Credit*
$243,950
1,252 SqFt
3 Beds
•2 Full Baths
Listing Office: NEXTHOME TWOFOURFIVE
Is Roanoke, 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, Roanoke has remained a Seller's Market.
Key Takeaway
Roanoke is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Roanoke, VA
How much do homes in Roanoke, VA cost?
Median Sold Price
$275,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,765(+8.2%)
Key Takeaway
Homes in Roanoke have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Roanoke was $275,000 in November 2024, up 8.2% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120.5K | $141K | +17.0% |
| 2 Bedrooms | $165.7K | $185K | +11.6% |
| 3 Bedrooms | $243.6K | $259.8K | +6.6% |
| 4 Bedrooms | $320K | $359.3K | +12.3% |
| 5+ Bedrooms | $450K | $475K | +5.6% |
Summary: Roanoke housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Roanoke | $254.2K | $275K | +8.2% |
| Vinton | $272.9K | $295K | +8.1% |
| Hollins | $307.5K | $330K | +7.3% |
| Cave Spring | $317.9K | $339.5K | +6.8% |
| Salem | $289.9K | $295K | +1.7% |
Housing Supply in Roanoke, VA
How many homes are available in Roanoke, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 610 | 706 | +15.7% |
Summary: The Roanoke real estate market had 706 homes for sale in November 2024, a 15.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 8 | +60.0% |
| 2 Bedrooms | 77 | 92 | +19.5% |
| 3 Bedrooms | 300 | 341 | +13.7% |
| 4 Bedrooms | 178 | 207 | +16.3% |
| 5+ Bedrooms | 50 | 58 | +16.0% |
Summary: The Roanoke housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 16%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 187 | 152 | -18.7% |
Asking Price vs. Sold Price
69 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Roanoke, you may be able to get a good deal. 45.4% of homes here sold below asking price last month.
Summary: A total of 152 homes were sold or pending in Roanoke in November 2024, down by 18.7% month-over-month. Of the 152 sold homes, 45% were sold under asking, 14% were sold at asking, and 41% were sold over asking.
Days on Market for Roanoke, VA
How long does it take to sell a home in Roanoke, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 3 Days | 31 Days | +745.5% |
Summary: Homes in Roanoke had an average of 31 days on market in Nov 2024, up by 745.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Roanoke are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 152 homes were sold in Roanoke; 1% of homes were sold within 30 days, 1% 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