Is Cave Spring, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cave Spring has remained a Seller's Market.
Housing Prices in Cave Spring, VA
How much do homes in Cave Spring, VA cost?
Median Sold Price
$315,500
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cave Spring was $315,500 in May 2024, down 1.4% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $113.5K | $135.5K | +19.4% |
2 Bedrooms | $170.5K | $184.5K | +8.2% |
3 Bedrooms | $299K | $300K | 0.3% |
4 Bedrooms | $393.9K | $387.5K | -1.6% |
5+ Bedrooms | $417K | $480.5K | +15.2% |
Summary: Cave Spring housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Cities
Roanoke | $231.5K | $259.7K | +12.2% |
Windsor Hills | $353.6K | $379K | +7.2% |
Blackwater | $321.5K | $337.4K | +4.9% |
Boone | $311.5K | $317.5K | +1.9% |
Cave Spring | $319.9K | $315.5K | -1.4% |
Housing Supply in Cave Spring, VA
How many homes are available in Cave Spring, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 96 | +39.1% |
Summary: The Cave Spring real estate market had 96 homes for sale in May 2024, a 39.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 12 | 14 | +16.7% |
3 Bedrooms | 27 | 34 | +25.9% |
4 Bedrooms | 16 | 28 | +75.0% |
5+ Bedrooms | 12 | 17 | +41.7% |
Summary: The Cave Spring housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 41.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 22 | +10.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Cave Spring in May 2024, up by 10.0% month-over-month. Of the 22 sold homes, 41% were sold under asking, 32% were sold at asking, and 27% were sold over asking.
Days on Market for Cave Spring, VA
We’re sorry, we don't have information for this market at the moment