The Long & Foster Market Minute

Focus On: Roanoke County Housing Market August 2021

Units Sold
122
Active Inventory
161
Median Sale Price
$260,000
Days On Market
6
Down -18%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -75%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 122 sold this month in Roanoke County Real Estate versus 115 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 18% versus August 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 62 units or 28%. The total number of active inventory this August was 161 compared to 223 in August 2020. This month's total of 161 is lower than the previous month's total supply of available inventory of 178, a decrease of 10%.

Median Sale Price
Last August, the median sale price for Roanoke County Homes was $234,975. This August, the median sale price was $260,000, an increase of 11% or $25,025 compared to last year. The current median sold price is 2% higher than in July.

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


New Listings
120
Current Contracts
123
Sold Vs. List Price
100.8%
Months of Supply
1.3
Down -6%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -13%
Vs. Year Ago

Months of Supply
In August, there was 1.3 months of supply available in Roanoke County, compared to 1.5 in August 2020. That is a decrease of 12% 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 120 homes newly listed for sale in Roanoke County compared to 128 in August 2020, a decrease of 6%. There were 123 current contracts pending sale this August compared to 109 a year ago. The number of current contracts is 13% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Roanoke County was 100.8% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 6, lower than the average last year, which was 24, a decrease of 75%.

The Long & Foster Market Minute
*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.
REALTOR, Equal Opportunity HousingInformation 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.