Roanoke, VA housing market

The clearest signal in Roanoke right now is time. The median home is sitting on the market for about sixty days before it sells, and that pace is shaping everything else. Values are still climbing, just slowly. The typical home is worth about two hundred sixty-eight thousand dollars, up roughly 2.7 percent over the past year. That is steady, not hot. There are about 500 homes for sale, with around 246 new listings coming on. So buyers have choices, and they are taking their time. You can see the pressure in the price cuts. Nearly 22 percent of listings have already dropped their price, more than one in five. And notice the gap between the median list price of about three hundred fifty-four thousand dollars and what homes actually tend to be worth. Sellers are aiming high, and the market is pushing back. If you are selling in Roanoke, price it right the first week. Homes that start too high are the ones cutting later and waiting out those sixty days.