Roanoke Valley Housing Market Update – March 2025

Key Market Trends:

🏡 Homes Sold: 346 (⬇️ 20%) – A sharp decline in sales activity, which could reflect higher interest rates, seasonal shifts, or buyer hesitation.

📉 Homes Under Contract: 539 (⬇️ 2%) – Pending contracts dipped slightly, but overall buyer interest remains relatively steady.

💰 Average Sold Price: $359,918 (⬆️ 6%) – The market continues to favor sellers as home prices climb.

📈 Median Sold Price: $286,500 (⬆️ 8%) – Strong upward trend in values signals ongoing demand for quality homes in our area.

🏠 New Listings Added: 747 (⬆️ 24%) – A significant boost in inventory is bringing fresh opportunities for buyers.

📊 Total Housing Inventory: 838 (⬆️ 41%) – More homes are available now than a year ago, creating a more balanced market.

What Do These Numbers Mean for You?

🔹 If You’re Thinking About Selling: Prices are rising, but so is inventory. That means more competition among sellers, so it's crucial to price your home right and showcase it professionally. With buyer demand still active, now is a great time to capitalize on strong pricing before even more listings hit the market.

🔹 If You’re Looking to Buy: There’s never been a better time in the past year to explore your options. With inventory up 41% year-over-year, buyers now have more leverage and selection. Whether you're upgrading, relocating, or buying your first home, this market shift is working in your favor.