Roanoke Valley Market Update – November 2024

Key Market Trends:

🏡 Homes Sold: 423 (⬆️ 19%) – Sales saw a strong increase, indicating continued buyer demand.

📉 Homes Under Contract: 392 (⬆️ 8%) – More homes are going under contract, showing steady market activity.

💰 Average Sold Price: $382,784 (⬆️ 11%) – Home values continue to rise, benefiting sellers.

📈 Median Sold Price: $301,000 (⬆️ 18%) – A significant increase, reinforcing strong market appreciation.

🏠 New Listings Added: 473 (⬆️ 11%) – More homes hitting the market, giving buyers additional options.

📊 Total Housing Inventory: 895 (⬆️ 24%) – A notable rise in inventory, which could provide buyers with more negotiating power.

What Do These Numbers Mean for You?

🔹 If You’re Thinking About Selling: Home prices are up, and demand remains strong, making this a great time to list. However, with more homes on the market, strategic pricing and marketing are key to standing out.

🔹 If You’re Looking to Buy: Inventory has increased, meaning buyers have more choices. While prices are rising, the additional supply could create more balanced negotiations. Acting now before further appreciation could save you money.