New River Valley median home prices increase

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BLACKSBURG (WSLS 10) - Median housing prices hit a new high in the New River Valley according to one real estate group.

Nest Realty says nearly all the statistics are up and the median sales price for the first half of the year for single family homes in Blacksburg is $$300,000.

The group reports they've seen declining supply levels driving prices up significantly.

Houses are staying on the market an average of about 65 days this year in Blacksburg.

Condos are also improving as there are more financing options.

The median sales price has also increased in Christiansburg. The median sales price is currently $174,500 this year compared with $165,000 in 2014. Nest Realty reports townhouse sales have lagged in the town over the last 24 months due to supply issues buy are not experiencing a steady climb back to levels from 2013.