The Long & Foster Market Minute

Focus On: Eastern Roanoke City Housing Market June 2021

Zip Code(s): 24012, 24002, 24001 and 24013
Units Sold
48
Active Inventory
34
Median Sale Price
$163,500
Days On Market
10
Up 17%
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -67%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 48 sold this month in Eastern Roanoke City Real Estate versus 50 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 17% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 37%. The total number of active inventory this June was 34 compared to 54 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Eastern Roanoke City Homes was $136,000. This June, the median sale price was $163,500, an increase of 20% or $27,500 compared to last year. The current median sold price is 12% lower 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
65
Current Contracts
60
Sold Vs. List Price
103.6%
Months of Supply
0.7
Up 38%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 3.7%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Eastern Roanoke City, compared to 1.3 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 65 homes newly listed for sale in Eastern Roanoke City compared to 47 in June 2020, an increase of 38%. There were 60 current contracts pending sale this June compared to 50 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Eastern Roanoke City was 103.6% of the average list price, which is 3.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 30, a decrease of 67%.

The Long & Foster Market Minute Eastern Roanoke City are defined as properties listed in zip code/s 24012, 24002, 24001 and 24013.
*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.