AUGUSTA COUNTY MARKET REPORT May 2016
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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
15.12%
8.89%
5.27%
533
1,457
$193,965
*Differences indicated from May 2015 Greater Augusta Association of REALTORS® statistics, as of May 31, 2016
STAUNTON Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
19.13%
13.23%
3.81%
137
351
$161,324
*Differences indicated from May 2015 Greater Augusta Association of REALTORSÂŽ statistics, as of May 31, 2016
WAYNESBORO Units Sold Year to Date
1.85%
110
12 Month Residential Sales
302
-0.98%
12 Month Average Sales Price
0.77%
$162,095
*Differences indicated from May 2015 Greater Augusta Association of REALTORS® statistics, as of May 31, 2016
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
19.17%
10.90%
6.75%
286
804
$220,186
*Differences indicated from May 2015 Greater Augusta Association of REALTORS® statistics, as of May 31, 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: The strong residential market continued through May, with 141 sales in Augusta County, the strongest May total in several years. An increasing number of homes going under contract in May indicated the monthly sales totals will continue to climb in June and July. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 5/31/16
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: Buyer activity remained very strong in May, with Buyers placing contracts on 158 homes, one of the highest monthly totals in recent years. Favorable interest rates and a good balance between Buyers and Seller has the market getting healthier every day. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 5/31/16
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro May 31, 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: Although 2013 – 2015 saw nearly identical sales through the first five months of the year, 2016 has surged past those recent norms. Year to date sales of 533 homes as of May 31st represents more than a 15% increase over the May 31 totals of the past three years. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 5/31/16
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro As of May 31
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 totals have consistently stepped up in each of the past several years and 2016 appears to be continuing this trend consistent with the past few years. The 12 month sales total at the end of May was just under 9% greater than last year’s number. This is right in line with the 9% - 10% increases we have seen at this point in prior years. Steady, consistent growth is a very good thing for the market! Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 5/31/16
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro May 31, 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 sold in the past 12 months is $193,965, a 5.27% increase from this time last year. This is exactly the type of increase we are looking for in a healthy market. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 5/31/16
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro May 31, 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:
In terms of inventory, there is a 6.50 month “supply” of homes for sale at the current pace of sales, which is nearly the same as last month. A supply in the 5-6 month range is considered to be indicative of a healthy market, with neither a shortage, nor an oversupply of homes for sale. Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 5/31/16
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
READ MORE ON: KlineMay.com
Thanks for reading,
K L I N E RMe aAl tYy