Roanoke Valley March 2023 & 2023 1st Quarter Real Estate Review

The following statistics show the number of homes sold through the Multiple Listing
Service of Roanoke Valley during the month of March 2023. 75 fewer homes were sold in 2023 versus 2022, the great news for sellers is the average sale price continues to rise. The average sale price was up almost $30,000 or roughly 10%. Inventory remains an area of concern with 497 homes listed for sale, 449 went under contract, and a total housing inventory of 419. 

1st quarter numbers show a sluggish market with rising prices and lower available homes for sale. There were 170 fewer houses listed for sale in the 1st quarter of 2023 than in 2022.

The 2022 average sale price in the first quarter was $292,022 and has risen in 2023 to $319,762. The first quarter of 2023 is also the first time that the average sale price has exceeded $300,000 in each month. 

If you have thought about selling your home at any time in the last 6 to 12 months please reach out to us so that we can give you an up-to-date and accurate home value that is based on your unique situation. We are available to assist you and can be reached at 540-491-4222.

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