Botetourt County Housing Market Data

There was an increase in total units sold in August, with 30 sold this month in Botetourt County Real Estate versus 27 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 17% versus August 2022.

Versus last year, the total number of homes available this month is higher by 11 units or 25%. The total number of active inventory this August was 55 compared to 44 in August 2022. This month's total of 55 is higher than the previous month's total supply of available inventory of 51, an increase of 8%.

Last August, the median sale price for Botetourt County Homes was $387,250. This August, the median sale price was $366,700, a decrease of 5% or $20,550 compared to last year. The current median sold price is 3% 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.

In August, there was 1.8 months of supply available in Botetourt County, compared to 1.2 in August 2022. That is an increase of 50% 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 51 homes newly listed for sale in Botetourt County compared to 37 in August 2022, an increase of 38%. There were 42 current contracts pending sale this August, consistent with the volume a year ago. The number of current contracts is 56% higher than last month.

In August, the average sale price in Botetourt County was 99.1% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 24, higher than the average last year, which was 19, an increase of 26%.





Focus On: Botetourt County Housing Market			August 2023

Units Sold 30	Active Inventory 55	Median Sale Price $366,700	Days On Market 24

Down -17% Vs. Year Ago	Up 25% Vs. Year Ago	Down -5% Vs. Year Ago	Up 26% Vs. Year Ago


		Units Sold There was an increase in total units sold in August, with 30 sold this month in Botetourt County Real Estate versus 27 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 17% versus August 2022.
Active Inventory Versus last year, the total number of homes available this month is higher by 11 units or 25%. The total number of active inventory this August was 55 compared to 44 in August 2022. This month's total of 55 is higher than the previous month's total supply of available inventory of 51, an increase of 8%.
		Median Sale Price Last August, the median sale price for Botetourt County Homes was $387,250. This August, the median sale price was $366,700, a decrease of 5% or $20,550 compared to last year. The current median sold price is 3% 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 51	Current Contracts 42	Sold Vs. List Price 99.1%	Months of Supply 1.8

Up 38% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago	Up 50% Vs. Year Ago


		Months of Supply In August, there was 1.8 months of supply available in Botetourt County, compared to 1.2 in August 2022. That is an increase of 50% 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 51 homes newly listed for sale in Botetourt County compared to 37 in August 2022, an increase of 38%. There were 42 current contracts pending sale this August, consistent with the volume a year ago. The number of current contracts is 56% higher than last month.
		Sale Price to List Price Ratio In August, the average sale price in Botetourt County was 99.1% 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 24, higher than the average last year, which was 19, an increase of 26%.



	*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.