Focus On: Roanoke City Housing Market Units Sold
Active Inventory
61
713
130 120 110 100 90 80 70 60 50 40
$89,950
81
140,000
130
130,000
120
1,000
120,000
110
110,000
100
100,000
90
90,000 80,000
80
600
70,000
70
500
60,000
700
F-10
J-11 O-11 F-12
Days On Market
1,100
800
J-10 O-10 F-11
Median Sale Price
1,200
900
F-10
February 2012
Down -6% Vs. Year Ago
J-10
O-10 F-11
J-11
O-11 F-12
60
F-10 J-10 O-10 F-11 J-11 O-11 F-12
Down -20% Vs. Year Ago
F-10
Up 1% Vs. Year Ago
J-10 O-10 F-11
J-11 O-11 F-12
No Change Vs. Year Ago
Units Sold* 140
Sold Detached
Sold Attached
Sold Condo/ Coop
120
Units Sold
The number of units sold remained stable in February, with 61 sold this month in Roanoke City. This month's total units sold was lower than at this time last year, a decrease of 6% versus February 2011.
100 80 60 40 20
Active Inventory*
0 1,200
Active Detached
Active Attached
Active Condo/ Coop
1,000 800
Active Inventory
Versus last year, the total number of homes available this month is lower by 178 units or 20%. The total number of active inventory this February was 713 compared to 891 in February 2011. This month's supply remained stable as compared to last month.
Median Sale Price 100,000 80,000 60,000
Feb-11 $89,000
Feb-12 $89,950
600 400 200 0
Median Sale Price
Last February, the median sale price for Roanoke City Homes was $89,000. This February, the median sale price was $89,950, an increase of 1% or $950 compared to last year. The current median sold price is 10% lower than in January.
40,000 20,000 0
Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s knowledgeable and experienced sales associates. Information included in this report is based on data supplied by RVAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of RVAR or Long & Foster Real Estate, Inc.
Focus On: Roanoke City Housing Market New Listings
Current Contracts
165
89
February 2012 Sold Vs. List Price 94.8%
350
180
97%
300
160
96%
250
140
95%
200
120
150
100
100
80
50
60
F-10
J-10 O-10 F-11
20 15 10
93% 92%
5
91% 90%
0
89%
F-10
J-11 O-11 F-12
11.7
94%
40
0
Months of Supply
Down -6% Vs. Year Ago
J-10
O-10 F-11
J-11
O-11 F-12
F-10 J-10 O-10 F-11 J-11 O-11 F-12
Up 2% Vs. Year Ago
Up 2% Vs. Year Ago
F-10
J-10 O-10 F-11
J-11 O-11 F-12
Down -15% Vs. Year Ago
11.7
11.7
11.4
11.3
10.8
10.4
12.2
12.2 9.4
8.8
10.6
13.7
17.6
Months of Supply
13.7
16.6
17.3
16.7
18.5 15.9 9.1
10.9 8.5
12.6
11.0
20 18 16 14 12 10 8 6 4 2 0
16.1
Months Of Supply In February, there was 11.7 months of supply available in Roanoke City, compared to 13.7 in February 2011. That is a decrease of 15% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts 350
New Listings & Current Contracts
This month there were 165 homes newly listed for sale in Roanoke City compared to 175 in February 2011, a decrease of 6%. There were 89 current contracts pending sale this February compared to 87 a year ago. The number of current contracts is 2% higher than last February.
Number of New Listings
Total Pending
300 250 200 150 100 50 0
Sale Price/ List Price & DOM 97%
Avg Sale / Avg List
Average DOM
140
96%
120
95%
100
94% 93% 92%
80 60
91%
40
90%
20
89%
0
Sale Price to List Price Ratio
In February, the average sale price in Roanoke City was 94.8% of the average list price, which is 1.9% higher than at this time last year.
Days On Market
This month, the average number of days on market was 81, which is similar compared to a year ago.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s knowledgeable and experienced sales associates. Information included in this report is based on data supplied by RVAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of RVAR or Long & Foster Real Estate, Inc.