ROANOKE CITY HOUSING MARKET DATA

There was an increase in total units sold in May, with 115 sold this month in Roanoke City Real Estate versus 113 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 5% versus May 2024.

Versus last year, the total number of homes available this month is higher by 101 units or 69%. The total number of active inventory this May was 248 compared to 147 in May 2024. This month's total of 248 is higher than the previous month's total supply of available inventory of 222, an increase of 12%.

Last May, the median sale price for Roanoke City Homes was $222,400. This May, the median sale price was $250,000, an increase of 12% or $27,600 compared to last year. The current median sold price is 2% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In May, there was 2.2 months of supply available in Roanoke City, compared to 1.2 in May 2024. That is an increase of 78% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 164 homes newly listed for sale in Roanoke City compared to 145 in May 2024, an increase of 13%. There were 113 current contracts pending sale this May compared to 127 a year ago. The number of current contracts is 11% lower than last May.

In May, the average sale price in Roanoke City was 98.8% of the average list price, which is 1.1% lower than at this time last year.

This month, the average number of days on market was 29, higher than the average last year, which was 26, an increase of 12%.





FOCUS ON: ROANOKE CITY HOUSING MARKET			MAY 2025

Units Sold 115	Active Inventory 248	Median Sale Price $250,000	Days On Market 29

Down -5% Vs. Year Ago	Up 69% Vs. Year Ago	Up 12% Vs. Year Ago	Up 12% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 115 sold this month in Roanoke City Real Estate versus 113 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 5% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 101 units or 69%. The total number of active inventory this May was 248 compared to 147 in May 2024. This month's total of 248 is higher than the previous month's total supply of available inventory of 222, an increase of 12%.
		Median Sale Price Last May, the median sale price for Roanoke City Homes was $222,400. This May, the median sale price was $250,000, an increase of 12% or $27,600 compared to last year. The current median sold price is 2% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 164	Current Contracts 113	Sold Vs. List Price 98.8%	Months of Supply 2.2

Up 13% Vs. Year Ago	Down -11% Vs. Year Ago	Down -1.1% Vs. Year Ago	Up 79% Vs. Year Ago


		Months of Supply In May, there was 2.2 months of supply available in Roanoke City, compared to 1.2 in May 2024. That is an increase of 78% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 164 homes newly listed for sale in Roanoke City compared to 145 in May 2024, an increase of 13%. There were 113 current contracts pending sale this May compared to 127 a year ago. The number of current contracts is 11% lower than last May.
		Sale Price to List Price Ratio In May, the average sale price in Roanoke City was 98.8% of the average list price, which is 1.1% lower than at this time last year. Days on Market This month, the average number of days on market was 29, higher than the average last year, which was 26, an increase of 12%.



	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by Information included in this report is based on data supplied by the Roanoke Valley Association of REALTORS (RVAR) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace as some brokerages choose not to provide transaction information. This may result in an understatement of completed sales and available listings. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of RVAR or Long & Foster Real Estate, Inc. or Long & Foster Real Estate, Inc.