The Long & Foster Market Minute

FOCUS ON: VINTON AND SOUTHEAST ROANOKE COUNTY HOUSING MARKET MAY 2024

Zip Code(s): 24179 and 24014
Units Sold
48
Active Inventory
45
Median Sale Price
$310,000
Days On Market
28
Up 23%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 48 sold this month in Vinton and Southeast Roanoke County Real Estate versus 41 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 23% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 2%. The total number of active inventory this May was 45 compared to 44 in May 2023. This month's total of 45 is higher than the previous month's total supply of available inventory of 40, an increase of 13%.

Median Sale Price
Last May, the median sale price for Vinton and Southeast Roanoke County Homes was $299,950. This May, the median sale price was $310,000, an increase of 3% or $10,050 compared to last year. The current median sold price is 6% lower than in April.

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


New Listings
55
Current Contracts
46
Sold Vs. List Price
99.7%
Months of Supply
0.9
Up 8%
Vs. Year Ago
No Change
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -17%
Vs. Year Ago

Months of Supply
In May, there was 0.9 months of supply available in Vinton and Southeast Roanoke County, compared to 1.1 in May 2023. That is a decrease of 17% 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 55 homes newly listed for sale in Vinton and Southeast Roanoke County compared to 51 in May 2023, an increase of 8%. There were 46 current contracts pending sale this May, consistent with the volume a year ago. The number of current contracts is 25% lower than last month.

Sale Price to List Price Ratio
In May, the average sale price in Vinton and Southeast Roanoke County was 99.7% of the average list price, which is 3.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 28, higher than the average last year, which was 24, an increase of 17%.

The Long & Foster Market Minute Vinton and Southeast Roanoke County are defined as properties listed in zip code/s 24179 and 24014.
*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.