Roanoke Valley Housing Market Update – February 2025

Key Market Trends:

🏡 Homes Sold: 306 (⬇️ 1%) – Sales remain steady, showing continued buyer demand.

📉 Homes Under Contract: 341 (⬇️ 23%) – A significant drop, which could indicate a slowdown in buyer urgency or shifting market conditions.

💰 Average Sold Price: $328,784 (No Change) – Prices have stabilized, offering consistency for both buyers and sellers.

📈 Median Sold Price: $287,250 (⬆️ 2%) – Home values are holding strong, reinforcing the long-term value of homeownership.

🏠 New Listings Added: 446 (⬇️ 8%) – Fewer homes hitting the market may lead to tighter inventory as we move into the spring season.

📊 Total Housing Inventory: 723 (⬆️ 30%) – More homes available than last year, giving buyers more options and better negotiating power.

What Do These Numbers Mean for You?

🔹 If You’re Thinking About Selling: With more homes on the market, competition is increasing. That means pricing strategically and marketing effectively is key to getting top dollar. The good news? Buyers are still active, and median prices are trending up. Now is the time to list before inventory levels rise further!

🔹 If You’re Looking to Buy: With a 30% increase in available inventory, buyers have more choices than they did last year. This could mean less competition and better opportunities for negotiation. If you’ve been waiting for the right time to find your dream home, this may be it!