Is Cave Spring, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cave Spring has remained a Seller's Market.
Key Takeaway
Cave Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cave Spring, VA
How much do homes in Cave Spring, VA cost?
Median Sold Price
$315,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cave Spring have sold for 2.6% less than they did a year ago.
Summary: The median home sold price in Cave Spring was $315,000 in April 2024, down 2.6% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113.5K | $135.5K | +19.4% |
| 2 Bedrooms | $170K | $180K | +5.9% |
| 3 Bedrooms | $299.9K | $301.2K | 0.4% |
| 4 Bedrooms | $405K | $377.5K | -6.8% |
| 5+ Bedrooms | $417.5K | $487.7K | +16.8% |
Summary: Cave Spring housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Cities
| Roanoke | $224.6K | $260K | +15.7% |
| Blackwater | $300K | $337.4K | +12.5% |
| Windsor Hills | $352K | $379K | +7.7% |
| Boone | $295K | $317K | +7.5% |
| Cave Spring | $323.3K | $315K | -2.6% |
Housing Supply in Cave Spring, VA
How many homes are available in Cave Spring, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 80 | +29.0% |
Summary: The Cave Spring real estate market had 80 homes for sale in April 2024, a 29.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 27 | 30 | +11.1% |
| 4 Bedrooms | 13 | 21 | +61.5% |
| 5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Cave Spring housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 61.5%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cave Spring, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 18 homes were sold or pending in Cave Spring in April 2024, the same as the previous month. Of the 18 sold homes, 22% were sold under asking, 44% were sold at asking, and 33% 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
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.