AUGUSTA COUNTY MARKET REPORT April 2017
Presented by:
K L I N E RMe aAl tYy
STAUNTON, WAYNESBORO & AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
2.83%
5.90%
400
1,525
12 Month Average Sales Price
$190,473
-0.58%
*Differences indicated from April 2016 Greater Augusta Association of REALTORS® statistics, as of April 30, 2017
STAUNTON Units Sold Year to Date
98
-9.26%
12 Month Residential Sales
9.46%
382
12 Month Average Sales Price
$159,549
-0.49%
*Differences indicated from April 2016 Greater Augusta Association of REALTORSÂŽ statistics, as of April 30, 2017
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
34.67%
18.52%
7.57%
101
352
$172,591
*Differences indicated from April 2016 Greater Augusta Association of REALTORSÂŽ statistics, as of April 30, 2017
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
201
791
$213,365
-2.43%
-0.38%
-1.66%
*Differences indicated from April 2016 Greater Augusta Association of REALTORS® statistics, as of April 30, 2017
SALES ACTIVITY THIS MONTH RESIDENTIAL SALES BY MONTH Augusta County, Including Staunton and Waynesboro Monthly Sales, 2013-2017
What This Chart Shows: Residential home sales by month, over the past 4 years. This chart helps show seasonal trends in home sales.
Bottom Line:
After a huge sales month in March, the Augusta County market had another strong month in April with 113 residential sales. This number is slightly lower than March and significantly lower than last year largely due to a shortage of inventory. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 4/30/17
SALES ACTIVITY THIS MONTH RESIDENTIAL PROPERTIES PLACED UNDER CONTRACT Augusta County, Including Staunton and Waynesboro 2013-2017
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:
Both March and April were strong months for contracts with April exceeding March by 12 with a total of 213 new contracts on homes. These totals are extremely strong compared to prior years and indicate there will be strong closed sales activity in May and June. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 4/30/17
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro Month of April, 2013-2017
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: Sales for the first four months of the year rose slightly to 400 homes. While we didn’t see the surge in homes sales that we saw in March, Buyer Activity and the market overall are strong. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 4/30/17
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro Month of April, 2013-2017
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 Trend continues to show a healthy increase of 6% in the pace of sales over last year. This level of growth is sustainable and will hopefully continue. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 4/30/17
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro Month of March, 2013-2017
What This Chart Shows: 12 months average and median sales prices as of the date on the chart.
Bottom Line: Prices are nearly flat compared to last year. Typically, a shortage of inventory brings about price increases, but this year Buyers appear to be less emotional about competing for houses than in the mid 2000s. Instead of driving prices up irrationally, today’s Buyers withdraw from bidding when they reach their limit. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 4/30/17
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro as of April 30, 2017
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 is now significantly below historic norms with roughly half the supply of homes for sale as is typical. Buyers and Sellers should be sure to talk with their agent about how to handle competitive multiple offer situations. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 4/30/17
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