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.
About Dolores Farmer
Posts by Dolores Farmer:
How’s the Market for Botetourt Homes?
One area we looked at for the report is “sales by price range.” The price range with the most sales is $200,000-$250,000, with 8 sales from 1/1/13-2/28/13. This represents a 33% increase from the same time period in 2012. The $400,000 to $500,000 price range is also doing well, with 7 sales, representing a whopping 600% increase over 2012. The over $500,000 range, and $100,000 to $120,000 range have experienced drops over 2012. See the infographic for more details about the home market in Botetourt County.
For more market updates and various real estate charts for the Roanoke Valley, visit Prudential Premier’s Google Plus page. Prudential Premier will be opening a new Botetourt County office at 1638 Roanoke Road in Daleville in April of this year (2013.) Some of the best real estate agents in Botetourt will be working out of the office.
by Dolores Farmer Roanoke real estate is recovering nicely! Click on the info-graphic (below) one time to enlarge it, then click a second time on the “enlarge button” (see photo, above) and it will become the intended size. The info-graphic compares early 2012 to early 2013. Categories include “days to sell,” “number of contracts written,” “list to sales price ratio,” “dollar volume of homes sold,” and “number of homes sold.” It will be updated again as soon as February closes out, and figures can be obtained.
This graphic is also featured on the SWVAhomes.com Facebook page.
Interested in specific properties?
Please, help us win! Prudential Premier, REALTORS is in the running for an award (Best of SWOCO) that is widely recognized in this area. The voting is conducted by the Roanoke Times newspaper, and we need votes for “Best Local Real Estate Company.” IMPORTANT: The poll requires that you vote in at least 5 categories in order for your vote to count. (We are category #46- Prudential Premier REALTORS.) Please help us win…thank you so much!! http://blogs.roanoke.com/swoco/bestof2013/
After I used an iPhone App to help plan my home garden…it occurred to me that I have a long way to go on the journey back to simpler times. Nevertheless, that journey has begun, with some of our family goals detailed below.
To take responsibility for producing some of our family’s food.
Backyard gardening has been a pleasure. As a child, I always had a garden, but got sidetracked by the rat race and “growing up.” Somehow in the frenzy to get an education, get married, have children and find a job, I forgot to live everyday life.
Returning to gardening is one of the best things I’ve ever done. It forces you to slow down and appreciate things. We live in a subdivision, so there’s not much room to plant. However, another family goal is to move to some acreage within the next two years. Raised-bed gardens seemed to be a good start in my small space. Sam’s Club in Roanoke had a kit that snaps together, so we began there. Far too many seeds were stuffed in the little garden, mostly caused by the over-enthusiasm of the gardener. It all worked out, however, and we had fresh, chemical-free vegetables all Summer long. No pesticides were used at all; I decided the insects could have their fair share and I think they talked it over and decided to let me have mine! We lost very little.
It’s nice knowing I have friends who will help. My longtime buddy Steve Turner, known as “Mater Man, gives me gardening tips and answers my questions patiently. My friend (and employer), Tom Wilson, offered use of his tiller. Roanoke, VA is that kind of town; people help one another. A fantastic place to live.
This Fall, my husband Eddie and I will hunt for venison to fill the freezer. Certainly it won’t supply all of our meat, but this isn’t an all-or-nothing activity. We know we can’t supply all of our food; we just want to cut down on prepared grocery store food items and move in the right direction.
To Enjoy Family Time not Spent in front of a Television
Gardening started out as “Mom’s thing,” but over time the whole family got involved. My son helped place the raised beds, my daughter helped harvest and my husband pulled weeds. Even granny came out back for a look. I’d much rather have family activities centered around the garden than the television.
There was hard work involved but it was fulfilling; when we finished, we felt a real sense of accomplishment.
Cable TV is so overrated-have you noticed that, in addition to the regular commercials, now they use up part of your screen to put more commercials at the bottom? And we pay them to watch… their own commercials! What are we thinking?
To Live a Life that is not dominated by “Stuff.”
We cleaned out our garage this week. Borrowed a truck from our friend Chuck Campbell. The garage is not empty, but we made a significant dent. When my husband returned from the dump, where he took the junk, he told me it had weighed 1500 lbs.!! Until he showed me the ticket, where they weighed the truck before & after, I thought he was joking. Never again-we are de-cluttering and will no longer be ruled by “stuff.”
In the End…
This process is going to take time, but at least we got started. So far, here is what we’ve done to move towards a life of self-sufficiency:
- Started a garden
- Planted Basil and Vanilla indoors
- Grew carrots indoors over the winter
- Started looking for a home on some acreage
- Made garden starter pots out of newspaper
- Made our own body wash for 1/3 the price of store bought
My job is as the Director of Technology for Prudential Premier REALTORS. Surely I won’t be removing all technology from my life. That’s not the goal at all. It was great that my iPhone could help me plan my garden. Technology should assist you when you need it, but it certainly isn’t what’s meaningful in life.
We’re always open to more ideas of small changes or projects we could do …feel free to share yours in the comments.
See where your home style ranks when compared to others in Roanoke, VA.
If you’re considering selling your Roanoke VA home this Spring
After riding out the Roanoke derecho in June/July of 2012, and spending 5 days with no power in 100 degree heat, our family has decided to make an effort to be more prepared for the unexpected. We don’t have a lot of money to devote to this, so we’re taking baby-steps towards our goal. My intention is to do a series of posts on the small projects we undertake, mistakes and all. We thought a good start would be: 2 weeks of stored food, 2 weeks of stored water, and developing some alternative methods of heating, cooling, cooking, etc., in case we have no power.
One of my great loves is gardening, and so I started there. The family garden is our “alternative method” of obtaining food. Every year I start seeds indoors, and I usually buy a prepared “seed starting kit” from Lowe’s. This time I decided to make my own, out of items that were laying around the house. Long ago, I remembered reading that seed-starting pots could be made from newspaper, wrapped around a jar and then folded.
We had some old newspapers and an empty salsa jar, so I was game to give it a try. The idea is not to use anything that won’t degrade in the garden-no paper clips, no thing but the newspaper. Of course I worried that I’d never get the pots to hold together, and would have a mess on my hands once soil went in.
As it turned out, I didn’t need to worry. A few tucks of the paper, and it held together nicely. I screwed the lid on the salsa jar to help compress the newspaper and make good strong seed-starting pots.
The pots can be planted right in the ground, so there is no need to transplant the seedling when the time comes to put it in the garden. It worked out beautifully, and I am all ready to start my tomatoes this Spring.
Absorption Rate is often considered the best indicator of the health of a housing market. Simply put, it is figured by dividing the number of homes currently for sale by the average number of sales per month. The resulting figure shows how many months it will take to exhaust the supply of homes on the market. A six-month supply is considered a balanced market. Less than a six month supply of homes generally indicates a “Seller’s Market,” where conditions favor the home seller. Greater than a six month supply means a glut of inventory, which normally favors the buyer.
Roanoke’s Absorption Rate for November 2012 is 11.2 months. Still high, but at its lowest point since February 2009! The chart above goes back to January 2011, and shows the downward trend. A continuing downward trend would mean rising home prices and a better overall local real estate market. All figures are as reported to the Roanoke Valley MLS from 1/1/11-11/30/12.