Cave Spring Housing Market Report December 2024•Roanoke County, Virginia

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Housing Prices in Cave Spring, VA

How much do homes in Cave Spring, VA cost?

Housing Market Conditions

Is Cave Spring, VA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Cave Spring is a Seller's Market

Difference Since December 2023

Since last year, Cave Spring has remained a Seller's Market.

Insight

Cave Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$342,500$174/SqFt
+$31,500
+10.1%

Based on all homes sold in the last 12 months

Insight

Homes in Cave Spring have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in Cave Spring was $342,500 in December 2024, up 10.1% from last year, and the median price per square foot was $174.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Cave Spring
+10.1%
Roanoke
+9.5%
Boone
+5.5%
Windsor Hills
0.1%
Blackwater
-6.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$111K$147.5K
+32.9%
2$176.5K$192.8K
+9.3%
3$280K$319.9K
+14.2%
4$365K$420K
+15.1%
5$487.7K$550K
+12.8%

Summary: Cave Spring housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +32.9%. The home price for 2 bedroom homes increased by +9.3%. The home price for 3 bedroom homes increased by +14.2%. The home price for 4 bedroom homes increased by +15.1%. The home price for 5 bedroom homes increased by +12.8%.

Housing supply in Cave Spring, VA

How many homes are available in Cave Spring, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
80Last MonthDec 2024
712 months agoNov 2024
+12.7 %
Change MoMNov – Dec

Summary: The Cave Spring real estate market had 80 homes for sale in Dec 2024, a 12.7 % increase compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
16Last MonthDec 2024
192 months agoNov 2024
-15.8 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
122
0.0%
22023
+15.0%
31623
+43.8%
42322
-4.3%
51010
0.0%

Summary: Cave Spring housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +15.0%. The inventory for 3 bedroom homes increased by +43.8%. The inventory for 4 bedroom homes decreased by -4.3%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Cave Spring, VA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price3 Homes

At Asking Price4 Homes

Under Asking Price9 Homes

Insight

If you're buying a home in Cave Spring, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Cave Spring in December 2024, down by 15.8% month-over-month. Of the 16 sold homes, 56% were sold under asking, 25% were sold at asking, and and 19% 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.

Home sale times aren’t available for this area.

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Newest Listings in Cave Spring, VA

What homes are available in Cave Spring, VA?

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MLS Disclaimers and Copyright

Based on information from Roanoke Valley Association of Realtors MLS, and Central Virginia Regional MLS for the period 01/01/2023 - 01/01/2025

IDXAlthough 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.

All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The unauthorized retrieval or use of this listing data is prohibited.

All information is deemed reliable but not guaranteed, and should be independently verified. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2025 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.