Featured Property:
Main Street Salem Near Campus
FOR LEASE - Historic Salem manor home across the street from Roanoke College and the Roanoke County Courthouse. This buildinig consists of 2,702 square feet of prime office or retail space in the center of Downtown Salem's permissive "DBD" zoning district. 28,000 cars a day will pass your sign. With a full porch, hardwood floors, and lead-glass bay windows, the elegance of the vintage decor will communicate professionalism and stability to your clientele. Additional storage available in the basement and in an out-building. Plenty of parking in rear. Click the picture above to take a virtual photo tour.
Call Bryan or Richard for more information.
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Market Report
Ratio of Sales Price to Asking Price Improves
One of the most common questions we're asked by both buyers and sellers is, "In Roanoke, what is the typical sales price of a property in relation to its asking price?"
I learned a long time ago to answer this kind of generic question with two words; "It depends". Since the answer to this question is truly property-specific the question seems, at best, marginally applicable.
But we do have some data. Below is a chart representing the historic average sales price to asking price differential in the Roanoke market.
The 2012 differential is down to 8% from its peak of 26% in 2007. As sellers become more accepting of the new realities and as capital slowly becomes more accessible the gap has narrowed. Translated, this means that in 2012, commercial properties sold on average for 92% of their asking price.
But remember, "it depends" ..........
source: www.costar.com
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