Why Live in Cave Spring
Cave Spring, a neighborhood in Roanoke, is often referred to as Southwest County. This area is known for its top-rated schools, including Cave Spring Elementary, Middle, and High Schools, all of which receive high ratings. Located about 6 miles from both Roanoke’s city center and Salem, Cave Spring offers residents a mix of recently built homes on large lots and established subdivisions with properties from the 1980s. Home styles range from ranch-style, split-level, and bilevel single-family homes to Colonial Revivals and New Traditional houses. The neighborhood features mature trees, wide winding roads, and scenic views of the Blue Ridge Mountains. Garst Mill Park, with its greenway, playground, and pickleball courts, is a local highlight, while Hunting Hills Country Club offers golf, tennis, swimming, and dining options. The South County Library provides indoor recreation with events like Caturday. For shopping, residents frequent the Tanglewood shopping mall and nearby stores like Kroger and Hamrick’s. Major roadways Electric Road and Brambleton Avenue intersect in the center of Cave Spring, facilitating a commute to various parts of Roanoke in about 20 minutes. The area is safer than the national average, and the LewisGale Medical Center is nearby for emergencies. The Roanoke-Blacksburg Regional Airport is approximately 12 miles north, and Smith Mountain Lake, a popular weekend retreat, is about 40 miles east.
Home Trends in Cave Spring, VA
On average, homes in Cave Spring, Roanoke sell after 53 days on the market compared to the national average of 70 days. The median sale price for homes in Cave Spring, Roanoke over the last 12 months is $351,000, up 40% from the median home sale price over the previous 12 months.
Median Sale Price
$351,000
Median Single Family Sale Price
$359,990
Median Townhouse Sale Price
$531,202
Median 2 Bedroom Sale Price
$302,450
Median 1 Bedroom Sale Price
$412,500
Average Price Per Sq Ft
$268
Number of Homes for Sale
63
Last 12 months Home Sales
224
Median List Price
$387,990
Median Change From 1st List Price
2%
Median Home Sale Price YoY Change
40%