Q4 2018 Roanoke Valley Market Snapshot

Q4 2018 Roanoke Valley Market Snapshot
By: Patrick Wilkinson

Posted 1/25/2019


Welcome to LivingInRoanoke.com’s Q4 2018 Roanoke Valley Market Snapshot

2018 sales of residential homes in the Roanoke Valley were 2.3% higher than 2017, and the best we have seen since 2006! Below you’ll see how sales fared in the 4th quarter of 2018. You are welcomed to share this with your friends. You can even share on Facebook or Twitter (just click share buttons at the bottom of the page, thanks in advance). Enjoy!

-Patrick Wilkinson

 


4th Quarter – 2018 – HOME SALES

– Chart below illustrates Q4 home sales for each year from 2000 to 2018.
– Average Q4 home sales during those 19 years equals 1,097 homes
– Q4 2018 sales (1,244) are higher by 147 homes (13.4% up) over 19-yr Q4 average (1,097)
– Q4 2018 sales (1,244) are lower by 9 homes (00.8% down) from Q4 2017 (1,253)


4th Quarter – 2018 – AVERAGE PRICE

– Chart below illustrates Q4 average sales price for each year from 2000 to 2018.
– Average Q4 home sales price during those 19 years equals $190,532
– Q4 2018 avg price ($214,342) is higher by $23,810 (12.5% up) over 19-yr Q4 avg ($190,532)
– Q4 2018 avg price ($214,342) is higher by $6,062 (2.9% up) from Q4 2017 ($208,280)


4th Quarter – 2018 – AVERAGE DAYS ON MARKET (DOM)

– Chart below illustrates Q4 average DOM for each year from 2000 to 2018.
– Average Q4 DOM during those 19 years equals 91 days
– Q4 2018 DOM (74) is lower by 17 days (18.7% down) from 19-yr Q4 avg (91) GOOD!
– Q4 2018 DOM (74) is lower by 10 days (11.9% down) from Q4 2017 (84ALSO GOOD!


Total RVAR Annual Sales 2000 through end of 2018

– Chart below illustrates annual home sales for each year from 2000 to 2018.
– Average annual home sales during those 19 years equals 4,697 homes
– 2018 sales (5,522) higher by 123 homes (2.3% up) over 2017 sales (5,399)
– 2018 sales (5,522) higher by 825 homes  (17.6% up) over 19 year avg (4,697)


TODAY’S MORTGAGE RATES** & HISTORY – As of 1/25/19

According to Bankrate.com the following mortgage interest rates** are available today:

30-Yr Fixed:
4.657% APR (4.625% rate $300k loan 20% down 740+ credit 0 pts $1233/mo P&I)
15-Yr Fixed:
4.235% APR (4.125% rate $300k loan 20% down 740+ credit 0 pts $1790/mo P&I)
10 Yr Fixed:
4.409% APR (4.250% rate $300k loan 20% down 740+ credit 0 pts $2459/mo P&I)
5/1 Adj Rate:
4.816% APR (3.959% rate $300k loan 20% down 740+ credit 0 pts, $1140/mo P&I)

To see a chart of last 30 year history of mortgage rates: Click Here

Historical charts courtesy of Jamey Roberts at Residential Mortgage Services.


*The RVAR is the Roanoke Valley Association of Realtors and owns the Roanoke MLS
** All loans are subject to credit approval. These rates are not an offer of financing. Every home buyer must be approved through a qualified lender. Loan programs and rates subject to change. The Real Estate Group and/or LivingInRoanoke.com, and/or Patrick Wilkinson, is not / are not a lender.


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THANKS A MILLION!
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