Real Estate Matters

By Frazier Hughes

Executive Summary:

The Real Estate stats from 2021 don’t lie says this award-winning Realtor.

Still a seller’s market

I get asked all the time “How is the market, is it still as good as it was last year? Are there more homes available? Are the prices going down? Is the market going to crash?” Don’t believe the hype of any negativity as 2021 brought the positivity in real estate, and will 2022? Read on my friend.

The best part of 2021 is not only did I sell more homes, but the market has stayed hot. Last year this time there were 5,676 homes sold in the valley and currently (as of mid-November) 5,738 is the number. The average sales price last year this time was $266,346 and now it’s up (and check out this number) by a big jump to $293,672. Time on the market is about 25 days at the tail end of 2021 and was almost two weeks longer at the beginning of the year.

The best areas of the valley for selling homes in 2021 continues to be (as was last year) Roanoke County in first and rightfully so, it’s the biggest at 1,382, Roanoke City is not far behind in 2nd place at 1,237 homes, 3rd place was Franklin County at 701, 4th place was Bedford County at 516, 5th was Botetourt County at 395, and Salem came in at 6th with 341 homes.

Some other great aspects of real estate in 2021 are that as home prices have risen, it allows you to have extra money in your pocket to invest or put towards purchasing your next home. We see no signs of the market slowing down and your equity going up in 2022 which it has this year. It’s been a great time to sell and will continue to be.

The best part of selling in 2021? Every month. Seriously, if your home is priced right, in a desirable area, and in great condition, you could get it under contract any day, anytime. Now may be the perfect time to consider selling. Remember price moves it.

The best part too is that people want to live in the Roanoke Valley. It has a lot to offer with its beauty, mountains, and people. There is a lot to do here and a lot more homes to sell - and you will find one too. Stay positive and your chances will go up in 2022 and the years to come. As Dale Carnegie said, “Happiness doesn’t depend on any external conditions, it’s governed by our mental attitude.”

Frazier Hughes is with Keller Williams Realty. Reach him at frazierhughescom@ gmail.com

The best part of 2021 is not only did I sell more homes, ”“ but the market has stayed hot.