The Long & Foster Market Minute

Focus On: Roanoke County and Salem City Housing Market June 2021

Units Sold
278
Active Inventory
251
Median Sale Price
$235,000
Days On Market
23
Up 4%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -28%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 278 sold this month in Roanoke County and Salem City Real Estate versus 240 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 4% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 172 units or 41%. The total number of active inventory this June was 251 compared to 423 in June 2020. This month's total of 251 is higher than the previous month's total supply of available inventory of 242, an increase of 4%.

Median Sale Price
Last June, the median sale price for Roanoke County and Salem City Homes was $195,000. This June, the median sale price was $235,000, an increase of 21% or $40,000 compared to last year. The current median sold price is 7% 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
342
Current Contracts
301
Sold Vs. List Price
100.7%
Months of Supply
0.9
Up 29%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -43%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Roanoke County and Salem City, compared to 1.6 in June 2020. That is a decrease of 43% 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 342 homes newly listed for sale in Roanoke County and Salem City compared to 265 in June 2020, an increase of 29%. There were 301 current contracts pending sale this June compared to 269 a year ago. The number of current contracts is 12% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Roanoke County and Salem City was 100.7% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 32, a decrease of 28%.

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.