Market Snapshot
By: Patrick Wilkinson
Posted 1/25/2021
Welcome to LivingInRoanoke.com’s Q4 2020 Roanoke Valley Market Snapshot
Annual 2020 sales of residential homes in the Roanoke Valley were 11.7% higher than 2019, and the best ever on record! Below you’ll see how sales in the 4th quarter of 2020. 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 – 2020 – HOME SALES
– Chart below illustrates Q4 home sales for each year from 2001 to 2020.
– Average Q4 home sales during those 20 years equals 1,124 homes
– Q4 2020 sales (1,702) are higher by 578 homes () over 20-yr Q4 average (1,124)
– Q4 2020 sales (1,702) are higher by 387 homes () from Q4 2019 (1,315)
4th Quarter – 2020 – AVERAGE PRICE
– Chart below illustrates Q4 average sales price for each year from 2001 to 2020.
– Average Q4 home sales price during those 20 years equals $197,374
– Q4 2020 avg price ($284,227) is higher by $86,853 () over 20-yr Q4 avg ($197,374)
– Q4 2020 avg price ($284,227) is higher by $50,844 () from Q4 2019 ($233,383)
4th Quarter – 2020 – AVERAGE DAYS ON MARKET (DOM)
– Chart below illustrates Q4 average DOM for each year from 2001 to 2020.
– Average Q4 DOM during those 20 years equals 88 days
– Q4 2020 DOM (37) is lower by 51 days (58.0% down) from 20-yr Q4 avg (88)
– Q4 2020 DOM (37) is lower by 27 days (42.2% down) from Q4 2019 (64)
Total RVAR Annual Sales 2001 through end of 2020
– Chart below illustrates annual home sales for each year from 2001 to 2020
– Average annual home sales during those 20 years equals 4,887 homes/year
– 2020 sales (6,495) are the beat the 2005 record (6,243 sales)
– 2020 sales (6,495) higher by 1,608 homes () over 20 year avg (4,887)
– 2020 sales (6,495) higher by 684 homes () over 2018 sales (5,811)
TODAY’S MORTGAGE RATES** – As of 1/25/2021
According to Bankrate.com the following mortgage interest rates** are available today:
30-Yr Fixed Conventional:
2.756% APR (2.750% rate $300k loan 20% down 740+ credit 0 pts $980/mo P&I)
15-Yr Fixed Conventional:
2.404% APR (2.375% rate $300k loan 20% down 740+ credit 0 pts $1,586/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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