What the Blacksburg Market Looks Like and What It Means for Buyers and Sellers
Blacksburg boasts an in-demand housing market, and with frequent new jobs coming to Blacksburg for big employers such as Virginia Tech, Moog, Montgomery Regional Hospital, Carilion New River Valley Medical Center and the Virginia Tech Transportation Institute, new listings are desirable and sell quickly. Here are some quick stats on what the Blacksburg market looks like and what this means for you.
Median Days on the Market
Blacksburg real estate is one of the most highly sought after in the New River Valley for a number of reasons. Because of this, Blacksburg’s median days on the market have been decreasing since mid-2015 and as of January 2017 boasts a quick median turnover of just 29 days. Compare this to the 3-year peak in mid-2015 with the median days on the market being 51 days, and it’s easy to see that now is the time to list your Blacksburg property.
Median Price Per Square Foot
Now, envision the map above and flip it horizontally. That is what the median price per square foot looks like in Blacksburg. With few listings and a highly demanded market, sellers are getting top dollar for their houses and land properties. In January 2014, Blacksburg’s median price per square foot was $120; and in January 2017, Blacksburg’s media price per square foot climaxes just below $128. Though a small spike, this is a good sign for sellers. You’ll be able to sit comfortable and know that your home will be sold at top value.
Median Sales Price
One of the appealing aspects about Blacksburg is that you can find a variety of housing in the small town. From 2 bedroom homes for first-time homebuyers, luxury townhomes, and 5,000 square foot country club houses, you’re sure to find something that fits your needs. Because of this appeal, median sales prices in Blacksburg have ranges from $227,000 to $247,000 – peaking this January at $247,000. These numbers will assure buyers that there are a variety of homes to choose from in a number of price ranges.
