2024 Roanoke Housing Market: Trends, Prices, and What to Expect

What's Happening in Roanoke Real Estate Right Now

The Roanoke Valley continues to attract buyers looking for affordability, mountain views, and quality of life. Here's what the data shows about our current market.

Current Market Snapshot

• Median Home Price: Roanoke remains significantly more affordable than Northern Virginia and coastal markets
• Days on Market: Well-priced homes are moving within weeks
• Inventory: Still below historical averages, creating opportunities for sellers
• Interest Rates: Higher than 2021 lows, but buyers are adapting

Explore the data yourself: Check out our interactive market analytics dashboard to see median prices, days on market, and sales trends by ZIP code or city.

Neighborhood Highlights

Salem: Family-friendly with strong school ratings. Competitive for move-in ready homes.

Vinton: Growing interest from first-time buyers seeking value.

South Roanoke: Established neighborhoods with steady appreciation.

Blacksburg/Christiansburg: Tech sector growth driving demand.

What This Means for Buyers

Competition varies by price point. Under $300,000, expect multiple-offer situations on quality homes. Above $400,000, more negotiation room exists.

What This Means for Sellers

Pricing correctly from day one matters more than ever. Overpriced homes sit while properly-priced homes sell quickly. A data-driven pricing strategy is essential.

Want a personalized market analysis for your neighborhood? Contact me for details.