Roanoke Valley Housing Market Update – January 2025

Key Market Trends:

🏡 Homes Sold: 312 (⬇️ 2%) – A slight dip in sales, but demand remains steady.

📉 Homes Under Contract: 380 (⬇️ 8%) – Fewer homes going under contract could indicate some buyers are waiting for the right opportunity.

💰 Average Sold Price: $360,789 (⬆️ 17%) – Home values are on the rise, meaning sellers are getting top dollar!

📈 Median Sold Price: $278,725 (⬆️ 14%) – A strong increase in home values shows a healthy market for sellers.

🏠 New Listings Added: 458 – A good number of homes hitting the market, providing fresh opportunities for buyers.

📊 Total Housing Inventory: 732 (⬆️ 26%) – More homes are available, which could give buyers more options and negotiating power.

What Do These Numbers Mean for You?

🔹 If You’re Thinking About Selling: Home prices are up, and demand is still strong despite a slight dip in sales. If you’ve been considering selling, now is the time to maximize your home’s value before inventory rises further. A well-marketed and properly priced home will stand out in this market.

🔹 If You’re Looking to Buy: More inventory means more choices! With home prices rising, securing a home now could mean building long-term equity. Plus, with fewer homes under contract compared to last year, you may have more negotiating power.