Welcome to the New River Valley 2024 Mid-Year Market Report. Please find the downloadable PDF version of our full New River Valley area Mid-Year Report here: NRV_MYR_2024
New River Valley Market Performance at a Glance
The New River Valley Virginia real estate market in the first half of 2024 has shown steady performance with a modest increase in total sales of 1.3% year-over-year. The average sales price has seen a slight rise of 2.0% to $329,054, while the price per square foot has increased by 5.4% to $176. Days on market have slightly increased to 37, indicating a marginally longer time to sell homes. However, new listings have significantly dropped by 47.3%, which could tighten inventory moving forward. It’s hard to believe that we’re already halfway through 2024. Even with higher mortgage rates, buyer demand remains strong. Now more than ever, smart negotiating and strategic marketing is paramount. The expertise and passion of a seasoned real estate professional can make all the difference. Interested in learning more? Let’s chat!
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Marketing on July 23, 2024 Posted in New River Valley , New River Valley Market Reports Tags: mid-year report Comments closed
