Blacksburg Home Pace Early 2024

by | Feb 23, 2024

January and February’s inventory of condos, town homes, and single family homes for sale has been typically shallow given the seasonal trend opposite spring and summer’s peak activity. Regardless, attractive properties are selling within a week or so while the more likely time on market is a median of 55 days. Interest rates continue to linger in the upper 6% range as the key factor in postponing a purchase by buyers in all types of housing. Forecasting an optimistically slight rate decrease for the balance of 2024 has been a controversial topic. However, there may not be significant movement until later in the year. Meanwhile, property appreciation since January of 2023 is barely 1%, reflecting a stable, cautious marketplace for Blacksburg’s buyers and sellers.