Roanoke, VA

Real estate in Roanoke, VA is a hot commodity. The city has seen an influx of people and businesses in recent years, which has led to an increase in demand for housing and commercial space. There are a number of factors that contribute to the high demand for real estate in Roanoke, including its proximity to major metropolitan areas such as Washington D.C., Richmond, and Charlottesville, as well as its strong economy.

The city's population has grown by more than 20% since 2010, making it one of the fastest-growing cities in Virginia. This growth has led to increased demand for residential and commercial space, which is reflected in the city's average asking price for both types of property. In 2017, the median sale price for residential properties was $269,000 while the median sale price for commercial properties was $1.1 million.

One of the main reasons why real estate prices are so high in Roanoke is because there is a lot of competition among buyers. There are a number of new businesses and residents moving into the city every year, which means there is always room for new homes and businesses to be built. Additionally, many people who live in Roanoke commute to work or school outside of town so they are not as interested in buying property here on a long-term basis. As a result, there is often low inventory available on the market which drives up prices even further.

Despite these high prices, there are still some affordable options available if you're looking to buy or lease property in Roanoke. For example, apartments can be found at prices starting at $950 per month while single family homes can be purchased for around $200 per square foot (which is below average compared to other cities). If you're looking to invest rather than purchase property outright, there are also opportunities available through rental properties or condo complexes