Roanoke Valley Market Update -- April 2025

Key Market Trends:

🏡 Homes Sold: 457 (⬆️ 1%) – A modest increase in sales shows the market remains active, even as buyers navigate rising prices and growing inventory.

📉 Homes Under Contract: 555 (⬇️ 2%) – A slight dip in pending contracts could signal early signs of buyer caution or slower decision-making.

💰 Average Sold Price: $354,529 (⬆️ 2%) – Steady price growth continues, driven by buyer demand and limited competition at certain price points.

📈 Median Sold Price: $289,000 (⬆️ 1%) – Median values remain strong, reflecting consistent demand across mid-range homes.

🏠 New Listings Added: 742 (⬆️ 18%) – Sellers are entering the market at a higher rate, offering more choices for buyers this spring.

📊 Total Housing Inventory: 918 (⬆️ 53%) – Inventory has grown dramatically, creating a more balanced and less competitive landscape.

What Do These Numbers Mean for You?

🔹 If You’re Thinking About Selling: Prices are still inching upward, but the surge in new listings means buyers have more to choose from. Strategic pricing and standout marketing are more important than ever to capture top dollar in a growing inventory environment.

🔹 If You’re Looking to Buy: You now have more leverage and flexibility. With inventory up 53% year-over-year, this is the best time in months to find the right home without the intense bidding wars we’ve seen in the past.