Question: How long does it take to sell a house in Smith Mountain Lake compared to Roanoke?
Answer: On average, homes in Roanoke sell faster than Smith Mountain Lake properties. In recent years, typical Roanoke Valley homes sell in 30–40 days, while Smith Mountain Lake homes—especially waterfront and luxury properties—average 45–60 days on the market. Pricing, location, and property type all play a role.
Understanding the Difference Between Roanoke and Smith Mountain Lake
Roanoke Valley and Smith Mountain Lake share a market, but they attract very different types of buyers.
- Roanoke Valley: Primarily local buyers — families, professionals, and retirees looking for permanent residences close to schools, healthcare, and jobs.
- Smith Mountain Lake: Attracts both locals and out-of-town buyers. Many are seeking second homes, vacation retreats, or retirement properties, which lengthens the decision-making process.
Average Time on Market: The Numbers
Roanoke Valley
- Average Days on Market (DOM): 30–40 days (depending on price point and neighborhood).
- Hot Areas: South Roanoke, Cave Spring, and Hidden Valley homes often sell even faster when priced well.
- Why Faster? Larger pool of buyers actively looking for year-round homes.
Smith Mountain Lake
- Average DOM: 45–60 days, sometimes longer for high-end waterfront estates.
- Hot Areas: The Water’s Edge, Mariners Landing, and Contentment Island can sell faster due to strong amenities and reputation.
- Why Slower? Narrower buyer pool, higher price points, and seasonal demand cycles.
Key Insight: If your home is in a mid-range Roanoke neighborhood, expect a faster sale than a luxury lakefront home at Smith Mountain Lake.
Factors That Affect Time on Market
- Property Type
- Single-family homes in Roanoke neighborhoods: Generally sell faster.
- Lakefront homes with docks or acreage: May take longer, but attract higher-end buyers.
- Price Point
- Homes priced under $400,000 in Roanoke often sell within weeks.
- At Smith Mountain Lake, homes above $1M may take months to find the right buyer.
- Seasonality
- Roanoke: Consistent year-round demand with a spring and summer peak.
- Smith Mountain Lake: Strongest activity in spring and early summer, when buyers plan for summer enjoyment.
- Marketing Strategy
- Homes marketed with professional photos, video, and strong online exposure sell significantly faster.
- Eric and Amber often arrange lake showings by boat at SML, an added touch that helps serious buyers connect emotionally with the property.
Local Seller Example
A Roanoke seller in Cave Spring listed their 4-bedroom home with Eric and Amber. With staging and competitive pricing, it went under contract in just 12 days.
At the same time, a waterfront property in Mariners Landing took about 55 days to secure the right buyer. It eventually sold for full asking price because it had deep water access and a newer dock—features in high demand at Smith Mountain Lake.
Tips to Sell Faster in Either Market
- Price it right the first time. Overpricing leads to longer days on market.
- Invest in curb appeal and staging. First impressions matter, whether it’s a city neighborhood or a waterfront home.
- Use professional marketing. Drone footage, video tours, and strong online presence are essential.
- Lean on local expertise. Realtors who know both Roanoke and SML markets can position your home strategically.
Why Work with Eric and Amber Gerner
- Local Roots: Eric’s family has been shaping Smith Mountain Lake real estate for over 40 years.
- Dual Market Experience: Equally comfortable selling a South Roanoke Colonial or a SML waterfront estate.
- Proven Results: Their listings consistently sell faster than the market average due to tailored strategies.
- Community Connection: Active in local schools, sports, and animal adoption partnerships — buyers see them as trusted guides, not just agents.
Conclusion: Which Market Moves Faster?
- Roanoke homes: Typically sell faster due to broader buyer demand.
- Smith Mountain Lake homes: Take longer but often bring premium values, especially with the right marketing.
If you’re ready to sell your home in Roanoke Valley or Smith Mountain Lake, connect with Eric and Amber Gerner, Realtors at Gerner Co Real Estate. They’ll help you understand the local timeline, price competitively, and market effectively to sell with confidence.