ROANOKE CITY HOUSING MARKET DATA

There was an increase in total units sold in March, with 80 sold this month in Roanoke City Real Estate versus 64 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 30% versus March 2024.

Versus last year, the total number of homes available this month is higher by 58 units or 46%. The total number of active inventory this March was 184 compared to 126 in March 2024. This month's total of 184 is lower than the previous month's total supply of available inventory of 190, a decrease of 3%.

Last March, the median sale price for Roanoke City Homes was $220,000. This March, the median sale price was $235,000, an increase of 7% or $15,000 compared to last year. The current median sold price is 4% 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 2.3 months of supply available in Roanoke City, compared to 1.1 in March 2024. That is an increase of 110% 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 156 homes newly listed for sale in Roanoke City compared to 125 in March 2024, an increase of 25%. There were 141 current contracts pending sale this March compared to 98 a year ago. The number of current contracts is 44% higher than last March.

In March, the average sale price in Roanoke City was 98.9% of the average list price, which is 0.6% lower than at this time last year.

This month, the average number of days on market was 37, higher than the average last year, which was 29, an increase of 28%.





FOCUS ON: ROANOKE CITY HOUSING MARKET			MARCH 2025

Units Sold 80	Active Inventory 184	Median Sale Price $235,000	Days On Market 37

Down -30% Vs. Year Ago	Up 46% Vs. Year Ago	Up 7% Vs. Year Ago	Up 28% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 80 sold this month in Roanoke City Real Estate versus 64 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 30% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 58 units or 46%. The total number of active inventory this March was 184 compared to 126 in March 2024. This month's total of 184 is lower than the previous month's total supply of available inventory of 190, a decrease of 3%.
		Median Sale Price Last March, the median sale price for Roanoke City Homes was $220,000. This March, the median sale price was $235,000, an increase of 7% or $15,000 compared to last year. The current median sold price is 4% 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 156	Current Contracts 141	Sold Vs. List Price 98.9%	Months of Supply 2.3

Up 25% Vs. Year Ago	Up 44% Vs. Year Ago	Down -0.6% Vs. Year Ago	Up 109% Vs. Year Ago


		Months of Supply In March, there was 2.3 months of supply available in Roanoke City, compared to 1.1 in March 2024. That is an increase of 110% 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 156 homes newly listed for sale in Roanoke City compared to 125 in March 2024, an increase of 25%. There were 141 current contracts pending sale this March compared to 98 a year ago. The number of current contracts is 44% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Roanoke City was 98.9% of the average list price, which is 0.6% lower than at this time last year. Days on Market This month, the average number of days on market was 37, higher than the average last year, which was 29, an increase of 28%.



	*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.