ROANOKE VALLEY HOUSING MARKET DATA

There was an increase in total units sold in March, with 253 sold this month in Roanoke Valley Real Estate versus 219 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 20% versus March 2024.

Versus last year, the total number of homes available this month is higher by 132 units or 28%. The total number of active inventory this March was 599 compared to 467 in March 2024. This month's total of 599 is higher than the previous month's total supply of available inventory of 589, an increase of 2%.

Last March, the median sale price for Roanoke Valley Homes was $268,975. This March, the median sale price was approximately the same at $299,800. The current median sold price is 11% higher than in March 2024.

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 2.4 months of supply available in Roanoke Valley, compared to 1.5 in March 2024. That is an increase of 60% 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 489 homes newly listed for sale in Roanoke Valley compared to 421 in March 2024, an increase of 16%. There were 393 current contracts pending sale this March compared to 365 a year ago. The number of current contracts is 8% higher than last March.

In March, the average sale price in Roanoke Valley was 98.2% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 37, lower than the average last year, which was 42, a decrease of 12%.





FOCUS ON: ROANOKE VALLEY HOUSING MARKET			MARCH 2025

Units Sold 253	Active Inventory 599	Median Sale Price $299,800	Days On Market 37

Down -20% Vs. Year Ago	Up 28% Vs. Year Ago	Up 11% Vs. Year Ago	Down -12% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 253 sold this month in Roanoke Valley Real Estate versus 219 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 20% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 132 units or 28%. The total number of active inventory this March was 599 compared to 467 in March 2024. This month's total of 599 is higher than the previous month's total supply of available inventory of 589, an increase of 2%.
		Median Sale Price Last March, the median sale price for Roanoke Valley Homes was $268,975. This March, the median sale price was approximately the same at $299,800. The current median sold price is 11% higher than in March 2024. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 489	Current Contracts 393	Sold Vs. List Price 98.2%	Months of Supply 2.4

Up 16% Vs. Year Ago	Up 8% Vs. Year Ago	No Change Vs. Year Ago	Up 60% Vs. Year Ago


		Months of Supply In March, there was 2.4 months of supply available in Roanoke Valley, compared to 1.5 in March 2024. That is an increase of 60% 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 489 homes newly listed for sale in Roanoke Valley compared to 421 in March 2024, an increase of 16%. There were 393 current contracts pending sale this March compared to 365 a year ago. The number of current contracts is 8% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Roanoke Valley was 98.2% 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, lower than the average last year, which was 42, a decrease of 12%.


	*Defined as the counties of Botetourt, Floyd, Franklin, Montgomery, and Roanoke and the cities of Roanoke and Salem in VA
	*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.