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Old 06-16-2019, 01:05 PM
 
Location: Daleville, VA
2,282 posts, read 4,057,631 times
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Some of the latest real estate chatter I hear in Roanoke...

Friends in the Mount Pleasant area (rural-ish 24014 but very close to Roanoke downtown) report they are surprised to see houses that need quite a bit of work selling quickly for asking price.

Talked to a real estate person who lives in the Bonsack area (suburban-ish 24012 - where neighborhoods are split between Roanoke County/Bonsack El/William Byrd HS and Botetourt County/Cloverdale El/Lord Botetourt HS) shared that many houses are listing one day and selling the next - also that speculators seem to be purchasing some of the properties to market as higher-end rental properties.

Also read an article this weekend indicating that the local unemployment rate is now 2.5% (2.9% statewide in Virginia, and 3.6% nationwide).

https://www.roanoke.com/business/com...f04343bf5.html
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Old 06-16-2019, 06:56 PM
 
6,356 posts, read 4,175,527 times
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Quote:
Originally Posted by Watchful View Post
Some of the latest real estate chatter I hear in Roanoke...

Friends in the Mount Pleasant area (rural-ish 24014 but very close to Roanoke downtown) report they are surprised to see houses that need quite a bit of work selling quickly for asking price.

Talked to a real estate person who lives in the Bonsack area (suburban-ish 24012 - where neighborhoods are split between Roanoke County/Bonsack El/William Byrd HS and Botetourt County/Cloverdale El/Lord Botetourt HS) shared that many houses are listing one day and selling the next - also that speculators seem to be purchasing some of the properties to market as higher-end rental properties.

Also read an article this weekend indicating that the local unemployment rate is now 2.5% (2.9% statewide in Virginia, and 3.6% nationwide).

https://www.roanoke.com/business/com...f04343bf5.html
The chatter is true!


There is and has been a housing shortage for the last year or so in the Roanoke area. Actually it started about three years ago and it definitely shows no signs of improving in the near future. It’s a sellers market as the Carilion medical system continues to grow and attract more employees to this area.

We were fortunate to have found the house we wanted in Roanoke since I was able to find it the very first day it was listed on the market. It will be a long time before availability catches up with the demand!
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Old 06-17-2019, 04:07 AM
 
Location: Roanoke, VA
1,812 posts, read 4,219,600 times
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Many of the for sale houses in my immediate neighborhood (SW near Rosalind Hills Baptist Church) don't sell quickly. It seems to take a couple of months (or more) for them to be sold.
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Old 06-17-2019, 01:09 PM
 
Location: Daleville, VA
2,282 posts, read 4,057,631 times
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Quote:
Originally Posted by TN Lily View Post
Many of the for sale houses in my immediate neighborhood (SW near Rosalind Hills Baptist Church) don't sell quickly. It seems to take a couple of months (or more) for them to be sold.
Very interesting!
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Old 06-17-2019, 02:44 PM
 
6,356 posts, read 4,175,527 times
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Originally Posted by Watchful View Post
Very interesting!
Older homes and although they are in move in condition, many of them need some TLC and upgrading. All of the newer homes are selling prior to being completed and many are being built in Botetourt and Salem.

We remain friends with our realtor, who is local and tells us all the time she has way more people looking than the amount of houses available to purchase.
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Old 06-18-2019, 03:48 AM
 
Location: Roanoke, VA
1,812 posts, read 4,219,600 times
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Many of the homes in my neighborhood need some TLC and/or updating. But even those that have been well-kept and updated often stay on the market a while. I suspect that at the price point for some of these houses, buyers can get a house not in the City of Roanoke and opt for that, even if it means a smaller house.
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Old 06-18-2019, 08:42 AM
 
1,541 posts, read 1,675,137 times
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I feel like this is common everywhere. Even when we were house shopping in Roanoke, the properties that needed more work were off market after 2 weeks max.
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Old 06-19-2019, 06:36 PM
 
94 posts, read 108,393 times
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Good houses in good 'burbs are going very quickly around here. Lots of momentum and in Blacksburg too.

Something has changed, or is getting ready to. Word is getting out...
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Old 02-02-2024, 10:43 AM
 
Location: Virginia
30 posts, read 14,577 times
Reputation: 98
Bumping this thread rather than starting a new one. Wondering what chatter people are hearing for 2024.
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Old 02-02-2024, 05:47 PM
 
1,750 posts, read 2,399,151 times
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Originally Posted by mvclyde View Post
Bumping this thread rather than starting a new one. Wondering what chatter people are hearing for 2024.
I am also very interested.
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