The Long & Foster Market Minute

Focus On: Botetourt County Housing Market June 2021

Units Sold
40
Active Inventory
45
Median Sale Price
$349,975
Days On Market
15
Down -5%
Vs. Year Ago
Down -48%
Vs. Year Ago
Up
Vs. Year Ago
Down -64%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 40 sold this month in Botetourt County Real Estate versus 34 last month, an increase of 18%. This month's total units sold was lower than at this time last year, a decrease of 5% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 42 units or 48%. The total number of active inventory this June was 45 compared to 87 in June 2020. This month's total of 45 is higher than the previous month's total supply of available inventory of 38, an increase of 18%.

Median Sale Price
Last June, the median sale price for Botetourt County Homes was $257,750. This June, the median sale price was $349,975, an increase of $92,225 compared to last year. The current median sold price is higher than in May.

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


New Listings
41
Current Contracts
33
Sold Vs. List Price
101.4%
Months of Supply
1.1
Down -18%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Botetourt County, compared to 2.1 in June 2020. That is a decrease of 46% 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 41 homes newly listed for sale in Botetourt County compared to 50 in June 2020, a decrease of 18%. There were 33 current contracts pending sale this June compared to 42 a year ago. The number of current contracts is 21% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Botetourt County was 101.4% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 42, a decrease of 64%.

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.