Starkey School · Photo: Molly Cardenas · CC BY-SA 3.0378 homes sold in Cave Spring in the last year, at a typical $356K
About one sale in 4 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Cave Spring homes are listed.
Every place Cave Spring homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Cave Spring.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
10% of Cave Spring’s sales are condos, at $191K less than a house
290 houses and 38 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 290 sold in 12 months
- Per square foot
- $152VA $222
- Days to sell
- 25
- Sold over asking
- 26%
- Listings with a price cut
- 38%
typical sale · 38 sold in 12 months
- Per square foot
- $186VA $301
- Days to sell
- 36
- Sold over asking
- 16%
- Listings with a price cut
- 27%
Multi-family (2–4 units): 2 sold, typical $328K
Townhouses: 48 sold, typical $265K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.9 times the 2016 price
378 sales in the last year, against 553 in 2021 and a low of 281 in 2012. The typical sale went from $188K in 2016 to $356K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $350K buys in Cave Spring
Check a listing against what Cave Spring homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Cave Spring are more common than before the pandemic, but 60% fewer homes come up for sale
We read every month of Cave Spring’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 378 sales.
If you’re buying in Cave Spring
- Shop in August. It brings about 46 new listings a month, close to the busiest month, with fewer bidding wars (26% over asking).
- Bid near asking. Buyers paid 98.4% of the list price on average; 22% paid over.
- You’ll usually have time. Only 40% of homes go under contract within two weeks; the typical one takes 27 days.
Spring brings the homes; summer brings the bidding wars
May has the most new listings (about 58 a month), but June is the most competitive: 30% of June sales close over asking. July and August offer nearly as much choice with fewer homes bid up (28%). January has the least competition (18%) but only about 31 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Virginia
| Cave Spring now | 2017–19 | 2021 peak | VA now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 22% | 15% | 42% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 40% | 1% | 1% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 37% | — | — | 25% |
| Price paid vs. askingAverage sale price ÷ list price | 98.4% | 97.5% | 100% | 99.3% |
| Days to sellMedian days from listing to contract | 27 | 77 | 52 | 38 |
67 homes for sale on a typical day
That’s 2.2 times the 2023 low (31), 60% fewer than in 2017–19 and well under 2015’s 218.
1 in 3 listings has cut its price
37% in the last year, against — in 2017–19 and 25% across Virginia.
Since 2019, houses are up 64%, condos 66%
A house typically sold for $380K in the last year (290 sales), a condo for $190K (38).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Cave Spring ranks 158th of 179 busy Virginia markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Cave Spring is one of the state’s calmer markets.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Cave Spring home costs about $2,098 a month
Price: Cave Spring’s typical sale, last 12 months. Property tax at Cave Spring’s 0.8% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Cave Spring is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 22.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $356K home, about $2,890 a year.
Taxes vs. neighborsSchools
The schools grade for Cave Spring, from test results, graduation and how much students grow.
Schools in Cave SpringTypical commute
The average one-way trip to work for people who live in Cave Spring.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Roanoke and Vinton sell for less a square foot
The busier markets within 25 miles of Cave Spring, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Roanoke | 1,348 | $234K | $134 | 26% | 28 |
| Cave Spring | 378 | $356K | $155 | 22% | 27 |
| Salem | 295 | $290K | $156 | 26% | 22 |
| Hollins | 230 | $305K | $154 | 23% | 34 |
| Vinton | 87 | $248K | $145 | 23% | 30 |
| Cloverdale | 59 | $421K | $172 | 20% | 32 |
| Laymantown | 26 | $362K | $156 | 46% | 20 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Cave Spring, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Cave Spring. People who follow the town see it, and so do people comparing Cave Spring with their own town. No commission, no listing fee.
Questions about buying a home in Cave Spring
What do homes sell for in Cave Spring, VA?
378 homes sold in the year to May 2026 at a typical $356K, $155 a square foot. Houses sold for about $380K, condos for about $190K.
Is Cave Spring a buyer’s or seller’s market?
A seller’s market: 67 homes were for sale in May 2026 and 32 sold, about 2.1 months of supply. Buyers paid 98.4% of asking on average, and 37% of listings cut their price.
When is the best time to buy in Cave Spring?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Cave Spring?
About 0.8% of a home’s value a year. On a $356K home that’s near $2,890.
Where can I see homes for sale in Cave Spring?
Zillow, Redfin, Realtor.com and Homes.com all carry Cave Spring’s MLS listings; the search links above open each one filtered to Cave Spring.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).