ROANOKE COUNTY AND SALEM CITY HOUSING MARKET DATA

There was an increase in total units sold in March, with 179 sold this month in Roanoke County and Salem City Real Estate versus 154 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 19% versus March 2024.

Versus last year, the total number of homes available this month is higher by 69 units or 22%. The total number of active inventory this March was 377 compared to 308 in March 2024. This month's total of 377 is lower than the previous month's total supply of available inventory of 383, a decrease of 2%.

Last March, the median sale price for Roanoke County and Salem City Homes was $245,000. This March, the median sale price was $284,950, an increase of 16% or $39,950 compared to last year. The current median sold price is 2% higher than in February.

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

In March, there was 2.1 months of supply available in Roanoke County and Salem City, compared to 1.4 in March 2024. That is an increase of 52% 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 345 homes newly listed for sale in Roanoke County and Salem City compared to 301 in March 2024, an increase of 15%. There were 300 current contracts pending sale this March compared to 251 a year ago. The number of current contracts is 20% higher than last March.

In March, the average sale price in Roanoke County and Salem City was 98.9% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 37, higher than the average last year, which was 36, an increase of 3%.





FOCUS ON: ROANOKE COUNTY AND SALEM CITY HOUSING MARKET			MARCH 2025

Units Sold 179	Active Inventory 377	Median Sale Price $284,950	Days On Market 37

Down -19% Vs. Year Ago	Up 22% Vs. Year Ago	Up 16% Vs. Year Ago	Up 3% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 179 sold this month in Roanoke County and Salem City Real Estate versus 154 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 19% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 69 units or 22%. The total number of active inventory this March was 377 compared to 308 in March 2024. This month's total of 377 is lower than the previous month's total supply of available inventory of 383, a decrease of 2%.
		Median Sale Price Last March, the median sale price for Roanoke County and Salem City Homes was $245,000. This March, the median sale price was $284,950, an increase of 16% or $39,950 compared to last year. The current median sold price is 2% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 345	Current Contracts 300	Sold Vs. List Price 98.9%	Months of Supply 2.1

Up 15% Vs. Year Ago	Up 20% Vs. Year Ago	No Change Vs. Year Ago	Up 52% Vs. Year Ago


		Months of Supply In March, there was 2.1 months of supply available in Roanoke County and Salem City, compared to 1.4 in March 2024. That is an increase of 52% 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 345 homes newly listed for sale in Roanoke County and Salem City compared to 301 in March 2024, an increase of 15%. There were 300 current contracts pending sale this March compared to 251 a year ago. The number of current contracts is 20% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Roanoke County and Salem City was 98.9% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 37, higher than the average last year, which was 36, an increase of 3%.



	*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.