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Roanoke Valley home sales break records in 2020

Average home price, number of homes sold reach all-time highs

Roanoke Valley's housing market boomed in 2020.
Roanoke Valley's housing market boomed in 2020.

ROANOKE, Va. – If you’re looking for a new a home in the Roanoke Valley, you’re far from the only one.

The Roanoke Valley Association of Realtors said 2020 was a record-breaking year for realty, and the trends are continuing into 2021. The organization reports 6,398 homes were sold in the Roanoke Valley last year, with an average sale price of $265,544. For comparison, 5,688 homes were sold in 2019 at an average price tag of $228,479.

Roanoke Valley Association of Realtors president Walter Grewe said the region only has half of the supply of available houses as they had in previous years. Because of that, he has seen buyers become more aggressive in their tactics.

“We’re seeing multiple-offer situations or people coming in and paying full price right off the bat,” Grewe said. “An agent listed a house right over the hill from mine the other day, and it was a pending sale within the day.”

Grewe believes the increase is caused by a combination of more people working from home and Roanoke’s growing profile as a desirable place to live.

About the Author:

Taj Simmons joined 10 News as a reporter and multimedia journalist in January 2019.