Roanoke Valley Market Update - May 2025

Key Market Trends:

🏡 Homes Sold: 535 (⬆️ 1%) – A modest increase in closed sales shows the market remains active, with steady buyer demand even in a shifting economic landscape.

📑 Homes Under Contract: 572 (⬆️ 12%) – A notable uptick in pending contracts suggests strong buyer momentum and confidence heading into the summer season.

💰 Average Sold Price: $369,767 (⬇️ 3%) – A slight dip in average prices could indicate an influx of more affordable homes or strategic pricing from motivated sellers.

📊 Median Sold Price: $300,000 (⏸ 0%) – Median price stability reflects consistent demand across mid-range properties, even as inventory grows.

📈 New Listings Added: 791 (⬆️ 15%) – More sellers are jumping into the market, giving buyers a wider selection of homes to choose from.

🏘 Total Housing Inventory: 1,048 (⬆️ 47%) – Inventory has grown substantially, signaling a shift toward a more balanced market and giving buyers greater leverage.

What Do These Numbers Mean for You?

🔷 If You’re Thinking About Selling:While average prices may have dipped slightly, homes are still selling—and fast. With more inventory on the market, standing out is key. Pricing competitively and showcasing your home with strong marketing will be crucial in capturing top dollar.

🔷 If You’re Looking to Buy:Now may be the best window in months to make a move. With inventory up nearly 50% and prices holding steady, buyers have more leverage, less pressure, and a better chance of avoiding bidding wars.