AUGUSTA COUNTY MARKET REPORT June 2016
Presented by:
K L I N E RMe aAl tYy
STAUNTON, WAYNESBORO & AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
11.93%
7.18%
3.18%
685
1,462
$192,215
*Differences indicated from June 2015 Greater Augusta Association of REALTORS® statistics, as of June 30, 2016
STAUNTON Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
25.00%
20.53%
1.72%
185
364
$159,516
*Differences indicated from June 2015 Greater Augusta Association of REALTORSÂŽ statistics, as of June 30, 2016
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
10.29%
0.96%
$161,492
150
316
-2.20%
12 Month Average Sales Price
*Differences indicated from June 2015 Greater Augusta Association of REALTORSÂŽ statistics, as of June 30, 2016
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
6.71%
3.99%
6.37%
350
782
$219,851
*Differences indicated from June 2015 Greater Augusta Association of REALTORS® statistics, as of June 30, 2016
SALES ACTIVITY THIS MONTH RESIDENTIAL SALES BY MONTH Augusta County, Including Staunton and Waynesboro Monthly Sales, 2013-2016
What This Chart Shows: Residential home sales by month, over the past 3 years. This chart helps show seasonal trends in home sales.
Bottom Line: 150 homes sold during June, reflecting the strong Buyer activity in April and May. Continued strong Buyer activity in June with a high number of contracts being placed on homes ensures the sales numbers for July and August will remain strong as our real estate recovery continues. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 6/30/16
SALES ACTIVITY THIS MONTH RESIDENTIAL PROPERTIES PLACED UNDER CONTRACT Harrisonburg and Rockingham County 2013-2016
What This Chart Shows: The number of residential properties on which Buyers and Sellers entered into contracts each month. This is an excellent indicator of future sales.
Bottom Line: June was the fifth month in a row with over 100 new contracts on residential properties, with the average of those five months being 144 per month. Continued favorable buying conditions in terms of interest rates, prices, and inventory levels should keep these contract numbers high for the next few months at least. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 6/30/16
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro June 30, 2016
What This Chart Shows: Total residential sales from January 1 until the date on this chart, for each of the past five years.
Bottom Line: Through the first half of 2016, there were 685 homes sold in Augusta County (including the cities of Staunton and Waynesboro). This number represents a 12% increase over the first six months of 2015 – quite a jump, with the City of Staunton seeing a 25% increase in the number of homes sold. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 6/30/16
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro As of June 30
What This Chart Shows: Total sales for the last 12 months, as of the date on the chart. This is one of the best ways to see the true long term trend in the market.
Bottom Line: The 12 month sales figures are generally the most reliable measure of what’s really going on in the market. Over the past 12 months, 1,462 homes have sold in Augusta County. This is a 7% increase over the proper 12 month period, which is a healthy increase (a nice increase, but not so much that it can’t be sustained). All indicators point to a healthy market for the rest of the year, and we expect the pace of sales to continue at this level. Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 6/30/16
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro June 30, 2016
What This Chart Shows: 12 months average and median sales prices as of the date on the chart.
Bottom Line:
The average sales price of homes that have sold in the past 12 months is $192, 215, representing a 3.2% increase over the prior 12 month period. Throughout the County, however, there is some wide variation. The average price in Staunton is $159,516, a 1.7% increase form last year. In Waynesboro the average price has done down by 2.2% from last year and is now 161,492. County properties outside Staunton and Waynesboro have the highest average sales price at $219,851, and the highest rate of increase over last year at 6.4%. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 6/30/16
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro June 30, 2016
What This Chart Shows: Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales.
Bottom Line:
The inventory of homes for sale has remained steady over the past several months. Despite the healthy inventory numbers overall, there is a shortage in some price ranges and areas. Buyer would do well to move quickly, as homes that are priced properly and in good shape continue to sell quickly. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 6/30/16
MEET OUR REALTORS®
Minnie Stevenson Managing Broker 540-480-0648
Barbara Beverage 540-430-0919
Bruce Bosselman 540-448-1707
Karen Carpenter 540-292-0352
Ed Davis 540-943-7410
Derek Flory 540-448-2702
Susan Gibson 540-487-1000
Lucy Harris 540-569-0778
Cody Persinger 540-292-9224
Jupie Wagner 540-294-3411
Tim Wilday 540-272-7278
Tammy Wiles 540-487-3044
2352 JEFFERSON HWY WAYNESBORO, VA 22980 FIRM PHONE NUMBER - 540.943.7410
Chad Gensel 540-910-0838
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K L I N E RMe aAl tYy