The number of homes sold in the Roanoke Valley dipped slightly in September, but the market remains strong, and the decline is not out of line with a typical summer-to-fall transition period.
At the state and national levels, we saw growth in volume over the same period last year. Across the country, growth was largely fueled by first-time homebuyers.
Locally, we’re seeing more activity at price points under $250,000, and there are really nice properties available in all tiers of the market.
Although, we’re still seeing some quick sales, the average time on market is just over six months right now. That might make sellers anxious, but there’s good news: Many transactions are still closing close to list price.
Advice for buyers:
There are so many great starter homes on the market right now, many of which have been newly updated. First-time homebuyers — and buyers who’d like to downsize — should take a look at these properties and take advantage of still-low mortgage rates.
If you’re looking for a higher-end property, we’ve got a wide variety of well-priced options and some motivated sellers. Call me, and we’ll put together a tour.
Advice for sellers:
You know what I’m going to say, don’t you? Your pricing strategy is critical. You cannot overprice your listing right now and expect a quick turnaround. Get in touch, and I’ll complete a comparative market analysis and help you determine a competitive list price.