The Roanoker - July/August 2014 - 78

VOLUME UP, PRICES STABLE:
LAKE PROPERTY STILL LEADING
Roanoke Valley Multiple Listing Service Data provides
this snapshot of Roanoke Valley home sales over the
past six years. The average price has not fluctuated
much over that time, but the number of units sold was
up significantly in 2013.
2011

3,962 units sold

3,432 units sold

$792,147,173

$608,472,570

Average Price $197,889

Average Price $176,197

2009

2012

3,707 units sold

3,666 units sold

South Roanoke homes have shown a significant drop in value since the 2007 peak.

$704,274,576

$667,408,682

Young buyers aren't as
'emotional' as they once were.
They don't envision where to
place the Christmas tree; they
are somewhat more practical.

Average Price $188,855

Average Price: $180,302

2010

2013

3,269 units sold

4,307 units sold

$637,546,496

$830,755,132

Average Price $195,310

Average Price: $190,217

DAVID HUNGATE

2008

The rest? Ho-hum, but with a caveat. In some instances where average price drops were drastic, the
lower prices were partly due to the types of homes
that sold in 2013. More of the modest homes have
been selling, while in the past, the big-ticket homes
were hot. For example, the average price in 2007 in
Sherwood Forest (South Roanoke) was $524,150; in
2013, it was less than half that, $266,750.
"Smaller, older homes sold there," says Tim Toohig
of RE/MAX All Points, who compiled the 2013 data.
The same was true for Fairway Forest, where most
sales were in the original older neighborhood and
not in the higher end, newer homes. Ditto, Cherokee
Hills in Salem.

Average SOLD prices by municipality for the first four
months of 2014, as reported by the Roanoke Valley
MLS, shows Franklin County leading the way, with lake
property spiking the average price:
Municipality ...........................................Avg Sold Price
Franklin Co................................................ $253,212.61
Botetourt Co ............................................. $219,084.71
Bedford Co................................................ $209,826.54
Roanoke County ....................................... $202,052.69
Craig Co ...................................................... 168,994.44
Floyd Co .................................................... $166,446.43
City of Salem............................................. $161,299.49
Roanoke City ............................................ $138,181.24
Montgomery Co ....................................... $131,000.00
Vinton ....................................................... $121,916.48

THE TAKE FROM ZILLOW AND TRULIA:
A MARKET ON THE RISE
Zillow and Trulia, national real estate databases, offer their own market assessments, which show the area making
strides back. In mid-May, Zillow reported Roanoke Metro home values had gone up 7.5 percent over the past year
and projects will rise another 1.9 percent this year. Zillow also reported that some 29 percent of the properties
sold in the area were cut in price. Trulia, as of May 7, saw the average listing price for homes in Roanoke increase
3 percent over the previous week, potentially a sign for the better, too. Trulia also noted 187 homes in the area
were troubled loans, either already owned by the bank, being auctioned or near foreclosure. -SBK

78 JULY/AUGUST 2014

THE

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The Roanoker - July/August 2014

Table of Contents for the Digital Edition of The Roanoker - July/August 2014

Contents
Letters
The 360
The Flavor
The Gossip
The Gist
The Calendar
Brainiacs 2014
New Threats to Cyber Safety?
Can You Go Home Again?
Fall Fashion in the Green Room
Great Family Sapces
Home Advice From the Experts: 10 Great Tips
What's Your Home Worth Now?
Dining: Summer Treats Around the Valley
The Dish
The Perfect Weekend
Education Excellence
Top 100 Realtors
The Roanoker - July/August 2014 - Cover1
The Roanoker - July/August 2014 - Cover2
The Roanoker - July/August 2014 - 3
The Roanoker - July/August 2014 - Contents
The Roanoker - July/August 2014 - 5
The Roanoker - July/August 2014 - 6
The Roanoker - July/August 2014 - 7
The Roanoker - July/August 2014 - Letters
The Roanoker - July/August 2014 - 9
The Roanoker - July/August 2014 - The 360
The Roanoker - July/August 2014 - 11
The Roanoker - July/August 2014 - The Flavor
The Roanoker - July/August 2014 - The Gossip
The Roanoker - July/August 2014 - The Gist
The Roanoker - July/August 2014 - 15
The Roanoker - July/August 2014 - The Calendar
The Roanoker - July/August 2014 - 17
The Roanoker - July/August 2014 - 18
The Roanoker - July/August 2014 - 19
The Roanoker - July/August 2014 - Brainiacs 2014
The Roanoker - July/August 2014 - 21
The Roanoker - July/August 2014 - 22
The Roanoker - July/August 2014 - 23
The Roanoker - July/August 2014 - 24
The Roanoker - July/August 2014 - 25
The Roanoker - July/August 2014 - 26
The Roanoker - July/August 2014 - 27
The Roanoker - July/August 2014 - Education Excellence
The Roanoker - July/August 2014 - 29
The Roanoker - July/August 2014 - 30
The Roanoker - July/August 2014 - 31
The Roanoker - July/August 2014 - 32
The Roanoker - July/August 2014 - 33
The Roanoker - July/August 2014 - 34
The Roanoker - July/August 2014 - 35
The Roanoker - July/August 2014 - New Threats to Cyber Safety?
The Roanoker - July/August 2014 - 37
The Roanoker - July/August 2014 - 38
The Roanoker - July/August 2014 - 39
The Roanoker - July/August 2014 - Can You Go Home Again?
The Roanoker - July/August 2014 - 41
The Roanoker - July/August 2014 - 42
The Roanoker - July/August 2014 - 43
The Roanoker - July/August 2014 - 44
The Roanoker - July/August 2014 - 45
The Roanoker - July/August 2014 - Fall Fashion in the Green Room
The Roanoker - July/August 2014 - 47
The Roanoker - July/August 2014 - 48
The Roanoker - July/August 2014 - 49
The Roanoker - July/August 2014 - 50
The Roanoker - July/August 2014 - 51
The Roanoker - July/August 2014 - 52
The Roanoker - July/August 2014 - 53
The Roanoker - July/August 2014 - Great Family Sapces
The Roanoker - July/August 2014 - 55
The Roanoker - July/August 2014 - 56
The Roanoker - July/August 2014 - 57
The Roanoker - July/August 2014 - 58
The Roanoker - July/August 2014 - 59
The Roanoker - July/August 2014 - 60
The Roanoker - July/August 2014 - 61
The Roanoker - July/August 2014 - 61A
The Roanoker - July/August 2014 - 61B
The Roanoker - July/August 2014 - Home Advice From the Experts: 10 Great Tips
The Roanoker - July/August 2014 - 63
The Roanoker - July/August 2014 - 64
The Roanoker - July/August 2014 - 65
The Roanoker - July/August 2014 - 66
The Roanoker - July/August 2014 - 67
The Roanoker - July/August 2014 - 68
The Roanoker - July/August 2014 - 69
The Roanoker - July/August 2014 - 70
The Roanoker - July/August 2014 - 71
The Roanoker - July/August 2014 - 72
The Roanoker - July/August 2014 - 73
The Roanoker - July/August 2014 - 74
The Roanoker - July/August 2014 - 75
The Roanoker - July/August 2014 - What's Your Home Worth Now?
The Roanoker - July/August 2014 - 77
The Roanoker - July/August 2014 - 78
The Roanoker - July/August 2014 - 79
The Roanoker - July/August 2014 - 80
The Roanoker - July/August 2014 - 81
The Roanoker - July/August 2014 - 82
The Roanoker - July/August 2014 - 83
The Roanoker - July/August 2014 - 84
The Roanoker - July/August 2014 - Top 100 Realtors
The Roanoker - July/August 2014 - 86
The Roanoker - July/August 2014 - 87
The Roanoker - July/August 2014 - 88
The Roanoker - July/August 2014 - 89
The Roanoker - July/August 2014 - 90
The Roanoker - July/August 2014 - 91
The Roanoker - July/August 2014 - 92
The Roanoker - July/August 2014 - 93
The Roanoker - July/August 2014 - 94
The Roanoker - July/August 2014 - 95
The Roanoker - July/August 2014 - 96
The Roanoker - July/August 2014 - 97
The Roanoker - July/August 2014 - 98
The Roanoker - July/August 2014 - 99
The Roanoker - July/August 2014 - 100
The Roanoker - July/August 2014 - 101
The Roanoker - July/August 2014 - 102
The Roanoker - July/August 2014 - Dining: Summer Treats Around the Valley
The Roanoker - July/August 2014 - 104
The Roanoker - July/August 2014 - 105
The Roanoker - July/August 2014 - 106
The Roanoker - July/August 2014 - 107
The Roanoker - July/August 2014 - 108
The Roanoker - July/August 2014 - 109
The Roanoker - July/August 2014 - The Dish
The Roanoker - July/August 2014 - 111
The Roanoker - July/August 2014 - 112
The Roanoker - July/August 2014 - 113
The Roanoker - July/August 2014 - The Perfect Weekend
The Roanoker - July/August 2014 - Cover3
The Roanoker - July/August 2014 - Cover4
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