April 2013 continued to bring improvements to the Roanoke real estate market. The Absorption Rate in March 2012 was 12.11 months but it dropped to 10.27 months in March 2013. Home inventory in the Valley remains high, but overall it is dropping, meaning prices will likely rise if demand remains steady or increases. Average list price in the Valley was $283,040 in March 2013, up from $272,278 in March 2012. Residential homes in and around Roanoke averaged 131 days on the Market in March 2013. There were 3158 homes for sale in and around the Valley as of 4/2/13, according to the Roanoke MLS. For more facts about the Roanoke housing market, see the Infographic.
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