The Roanoker - January/February 2018 - VL16
dian listing price of $172,000 (compared to a Roanoke median of $147,900) is not imposing and the
median closing price of $164,000 is even better.
Salem has its exclusive neighborhoods, but is mostly middle income, settled and appealing to families.
"The Roanoke real estate market does not have
the extremes that other markets experience," says
Hale. "In other words, our peaks and valleys are not
nearly as abrupt as they are in larger markets. In
the mid-2000s housing bubble, we had about four
months worth of inventory, whereas large metropolitan markets in Virginia had less than one month.
I don't have data to compare to other Virginia or
regional markets, but I can say that the nationwide median home price (through July, 2017) was
$258,000 compared to ours at about $180,000. The
CLOCKWISE: ROLAND E. COOK LOFTS IN VINTON, OAK KNOLL IN OLD SOUTHWEST, SALEM NEIGHBORHOOD
16 | 2018 VALLEY LIFE MAGAZINE
OAK KNOLL: JULIANNE RAINONE / SALEM HOMES: COURTESY OF CHRISTY CROUCH OF THE CROUCH TEAM & REMAX ALL POINTS REALTORS / ROLAND E. COOK LOFTS: NOAH MAGNIFICO