Q4 2019 Roanoke Valley Market Snapshot

Q4 2019 Roanoke Valley Market Snapshot
By: Patrick Wilkinson

Posted 1/13/2019


Welcome to LivingInRoanoke.com’s Q4 2019 Roanoke Valley Market Snapshot

Annual 2019 sales of residential homes in the Roanoke Valley were 4.4% higher than 2018, and the best we have seen since 2005! Below you’ll see how sales fared in the 4th quarter of 2019. 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 – 2019 – HOME SALES

– Chart below illustrates Q4 home sales for each year from 2000 to 2019.
– Average Q4 home sales during those 20 years equals 1,108 homes
– Q4 2019 sales (1,315) are higher by 207 homes (18.7% up) over 20-yr Q4 average (1,108)
– Q4 2019 sales (1,315) are higher by 71 homes (5.7% up) from Q4 2018 (1,244)


4th Quarter – 2019 – AVERAGE PRICE

– Chart below illustrates Q4 average sales price for each year from 2000 to 2019.
– Average Q4 home sales price during those 20 years equals $192,674
– Q4 2019 avg price ($233,383) is higher by $40,709 (21.1% up) over 20-yr Q4 avg ($192,674)
– Q4 2019 avg price ($233,383) is higher by $19,041 (8.9% up) from Q4 2018 ($214,342)


4th Quarter – 2019 – AVERAGE DAYS ON MARKET (DOM)

– Chart below illustrates Q4 average DOM for each year from 2000 to 2019.
– Average Q4 DOM during those 20 years equals 89 days
– Q4 2019 DOM (64) is lower by 25 days (28.1% down) from 20-yr Q4 avg (89)
– Q4 2019 DOM (64) is lower by 10 days (13.5% down) from Q4 2018 (74)


Total RVAR Annual Sales 2000 through end of 2019

– Chart below illustrates annual home sales for each year from 2000 to 2019
Click Here to see the 2019 Annual  Roanoke Valley Market Snapshot
– Average annual home sales during those 20 years equals 4,752 homes/year
– 2019 sales (5,785) are the highest on record since 2005 (6,243 sales)
– 2019 sales (5,785) higher by 1,033 homes  (21.7% up) over 20 year avg (4,752)
– 2019 sales (5,785) higher by 244 homes (4.4% up) over 2018 sales (5,541)


TODAY’S MORTGAGE RATES** – As of 1/13/2020

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

30-Yr Fixed Conventional:
3.922% APR (3.875% rate $300k loan 20% down 740+ credit 0 pts $1129/mo P&I)
15-Yr Fixed Conventional:
3.539% APR (3.500% rate $300k loan 20% down 740+ credit 0 pts $1716/mo P&I)
10 Yr Fixed Conventional:
3.517% APR (3.500% rate $300k loan 20% down 740+ credit 0 pts $2373/mo P&I)
30-Yr Fixed FHA:
3.919% APR (3.875% rate $300k loan 5% down 740+ credit 0 pts $1340/mo P&I)
15-Yr Fixed FHA:
3.679% APR (3.500% rate $300k loan 5% down 740+ credit 0 pts $2130/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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