The Long & Foster Market Minute

Focus On: Roanoke County Housing Market March 2021

Units Sold
106
Active Inventory
109
Median Sale Price
$242,252
Days On Market
33
Up 9%
Vs. Year Ago
Down -63%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -54%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 106 sold this month in Roanoke County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 188 units or 63%. The total number of active inventory this March was 109 compared to 297 in March 2020. This month's total of 109 is lower than the previous month's total supply of available inventory of 127, a decrease of 14%.

Median Sale Price
Last March, the median sale price for Roanoke County Homes was $228,000. This March, the median sale price was $242,252, an increase of 6% or $14,252 compared to last year. The current median sold price is 3% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
136
Current Contracts
135
Sold Vs. List Price
98.5%
Months of Supply
1.0
Down -12%
Vs. Year Ago
Up 35%
Vs. Year Ago
No Change
Vs. Year Ago
Down -66%
Vs. Year Ago

Months of Supply
In March, there was 1.0 months of supply available in Roanoke County, compared to 3.1 in March 2020. That is a decrease of 66% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 136 homes newly listed for sale in Roanoke County compared to 155 in March 2020, a decrease of 12%. There were 135 current contracts pending sale this March compared to 100 a year ago. The number of current contracts is 35% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Roanoke County was 98.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 33, lower than the average last year, which was 71, a decrease of 54%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by Information included in this report is based on data supplied by the Roanoke Valley Association of REALTORS (RVAR) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace as some brokerages choose not to provide transaction information. This may result in an understatement of completed sales and available listings. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of RVAR or Long & Foster Real Estate, Inc. or Long & Foster Real Estate, Inc.