It’s going to be a busy spring in the Roanoke Valley real estate market. I should say, it’s going to continue to be busy.
The Roanoke Valley market finished 2016 with just over $1 billion in total volume sold, which represents more than 5,000 residential properties. Average sale price was just under $200,000.
Sellers who have been waiting to put a house on the market have a great opportunity right now to list. Owners of homes that show well and are well-located are likely to see those properties move more quickly at close to list price, assuming the property isn’t far overpriced.
If you’ve been planning improvements before you list, get an estimate on the work and give me a call before you dive in. Depending on the nature of the repairs, you might be better off to consider a slightly lower list price and go to market now. With fewer total listings for sale and more buyers in the market, sellers will see less competition and more interest.
But these conditions won’t last forever.
As the spring market rush begins, we’ll see a dramatic increase in the number of listings on the market. Competition among properties will become more intense, and those that are well-priced and of highest quality will go first.
Buyers, the good news for you is selection. Inventory levels are seasonally low, we’ve got some beautiful properties to show you. Selection is excellent in the middle tiers of the market, where most buyers tend to be looking. South Roanoke County continues to be a popular spot among buyers, and there is plenty in that area to choose from in terms of styles, floorplans, amenities and price. [Explore listings in South Roanoke County.]
Yes, mortgage rates have seen a slight uptick, but remember, we’ve been in a period of historically low rates. There are excellent mortgage deals to be had, and I can connect you with a lender who can walk you through your options.
Whether you’re buying or selling, it’s a good time to be in the market. Contact me and let’s talk about how we can make the Roanoke Valley real estate market work for you. Get in touch anytime at (540) 354-6323 or firstname.lastname@example.org. You can also check out my listings here and like my Facebook page.