The Long & Foster Market Minute

Focus On: Roanoke City Housing Market June 2021

Units Sold
120
Active Inventory
78
Median Sale Price
$195,000
Days On Market
24
Up 3%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 27%
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 120 sold this month in Roanoke City Real Estate versus 109 last month, an increase of 10%. This month's total units sold was higher than at this time last year, an increase of 3% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 41 units or 34%. The total number of active inventory this June was 78 compared to 119 in June 2020. This month's total of 78 is lower than the previous month's total supply of available inventory of 90, a decrease of 13%.

Median Sale Price
Last June, the median sale price for Roanoke City Homes was $153,000. This June, the median sale price was $195,000, an increase of $42,000 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
146
Current Contracts
137
Sold Vs. List Price
100.7%
Months of Supply
0.7
Up 40%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Roanoke City, compared to 1.0 in June 2020. That is a decrease of 36% 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 146 homes newly listed for sale in Roanoke City compared to 104 in June 2020, an increase of 40%. There were 137 current contracts pending sale this June compared to 99 a year ago. The number of current contracts is 38% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Roanoke City was 100.7% of the average list price, which is 2.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 33, a decrease of 27%.

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.