Roanoke County Housing Market Data

There was a decrease in total units sold in August, with 93 sold this month in Roanoke County Real Estate versus 108 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 32% versus August 2022.

Versus last year, the total number of homes available this month is higher by 22 units or 19%. The total number of active inventory this August was 138 compared to 116 in August 2022. This month's total of 138 is lower than the previous month's total supply of available inventory of 150, a decrease of 8%.

Last August, the median sale price for Roanoke County Homes was $307,000. This August, the median sale price was $307,650, which is similar compared to a year ago. The current median sold price is 4% 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 1.5 months of supply available in Roanoke County, compared to 0.8 in August 2022. That is an increase of 75% 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 106 homes newly listed for sale in Roanoke County compared to 105 in August 2022, an increase of 1%. There were 109 current contracts pending sale this August compared to 106 a year ago. The number of current contracts is 3% higher than last August.

In August, the average sale price in Roanoke County was 99.5% of the average list price, which is 0.8% lower than at this time last year.

This month, the average number of days on market was 26, higher than the average last year, which was 24, an increase of 8%.





Focus On: Roanoke County Housing Market			August 2023

Units Sold 93	Active Inventory 138	Median Sale Price $307,650	Days On Market 26

Down -32% Vs. Year Ago	Up 19% Vs. Year Ago	No Change Vs. Year Ago	Up 8% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 93 sold this month in Roanoke County Real Estate versus 108 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 32% versus August 2022.
Active Inventory Versus last year, the total number of homes available this month is higher by 22 units or 19%. The total number of active inventory this August was 138 compared to 116 in August 2022. This month's total of 138 is lower than the previous month's total supply of available inventory of 150, a decrease of 8%.
		Median Sale Price Last August, the median sale price for Roanoke County Homes was $307,000. This August, the median sale price was $307,650, which is similar compared to a year ago. The current median sold price is 4% 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 106	Current Contracts 109	Sold Vs. List Price 99.5%	Months of Supply 1.5

Up 1% Vs. Year Ago	Up 3% Vs. Year Ago	Down -0.8% Vs. Year Ago	Up 74% Vs. Year Ago


		Months of Supply In August, there was 1.5 months of supply available in Roanoke County, compared to 0.8 in August 2022. That is an increase of 75% 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 106 homes newly listed for sale in Roanoke County compared to 105 in August 2022, an increase of 1%. There were 109 current contracts pending sale this August compared to 106 a year ago. The number of current contracts is 3% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Roanoke County was 99.5% of the average list price, which is 0.8% lower than at this time last year. Days on Market This month, the average number of days on market was 26, higher than the average last year, which was 24, an increase of 8%.



	*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.