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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 FC6AFRE3YwXcemOjMTBxHw==

<SEC-DOCUMENT>0001209191-08-067377.txt : 20081224
<SEC-HEADER>0001209191-08-067377.hdr.sgml : 20081224
<ACCEPTANCE-DATETIME>20081224182225
ACCESSION NUMBER:		0001209191-08-067377
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081223
FILED AS OF DATE:		20081224
DATE AS OF CHANGE:		20081224

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			COOPER MILTON
		CENTRAL INDEX KEY:			0000940314

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-02844
		FILM NUMBER:		081270851

	MAIL ADDRESS:	
		STREET 1:		C/O KIMCO REALTY CORP
		STREET 2:		3333 NEW HYDE PARK RD STE 100
		CITY:			HYDER PARK
		STATE:			NY
		ZIP:			11042

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLUE RIDGE REAL ESTATE CO
		CENTRAL INDEX KEY:			0000012779
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		IRS NUMBER:				240854342
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 707
		STREET 2:		ROUTE 940 AND MOSEYWOOD RD
		CITY:			BLAKESLEE
		STATE:			PA
		ZIP:			18610
		BUSINESS PHONE:		5704438433

	MAIL ADDRESS:	
		STREET 1:		PO BOX 707
		STREET 2:		ROUTE 940 AND MOSEYWOOD RD
		CITY:			BLAKESLEE
		STATE:			PA
		ZIP:			18610
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c78773_4x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-12-23</periodOfReport>

    <issuer>
        <issuerCik>0000012779</issuerCik>
        <issuerName>BLUE RIDGE REAL ESTATE CO</issuerName>
        <issuerTradingSymbol>BLRGZ.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000940314</rptOwnerCik>
            <rptOwnerName>COOPER MILTON</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KIMCO REALTY CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>3333 NEW HYDE PARK ROAD</rptOwnerStreet2>
            <rptOwnerCity>NEW HYDE PARK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11042-0020</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-12-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>18291</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>67803</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By KC Holdings, Inc.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17670</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>109727</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Charity Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>29708</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By the Cooper Family Foundation</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3276</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F4"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Mr. Cooper's IRA</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1415154</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F5"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Kimco Realty Services, Inc.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These shares are owned by KC Holdings, Inc., of which Mr. Cooper is Chairman of the Board of Directors, President and an eight percent stockholder.  Mr. Cooper disclaims beneficial ownership of the shares held by KC Holdings, Inc.</footnote>
        <footnote id="F2">Mr. Cooper disclaims beneficial ownership of the shares held by the Charity Trust.</footnote>
        <footnote id="F3">These shares are owned by the Cooper Family Foundation, of which Mr. Cooper is President.  Mr. Cooper disclaims beneficial ownership of the shares held by the Cooper Family Foundation.</footnote>
        <footnote id="F4">Mr. Cooper disclaims beneficial ownership of these shares.</footnote>
        <footnote id="F5">These shares are owned by Kimco Realty Services, Inc., a subsidiary of Kimco Realty Corporation.  Mr. Cooper is Chairman of the Board of Directors and President of Kimco Realty Corporation.  Mr. Cooper disclaims beneficial ownership of the shares held by Kimco Realty Services, Inc.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Milton Cooper</signatureName>
        <signatureDate>2008-12-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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