AUGUSTA COUNTY MARKET REPORT August 2017
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
6.87%
6.91%
3.63%
1,074
1,578
$196,565
*Differences indicated from August 2016 Greater Augusta Association of REALTORS® statistics, as of August 31, 2017
STAUNTON Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
0.00%
2.62%
8.35%
392
$168,847
276
*Differences indicated from August 2016 Greater Augusta Association of REALTORSÂŽ statistics, as of August 31, 2017
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
15.91%
10.87%
6.34%
255
357
$176,055
*Differences indicated from August 2016 Greater Augusta Association of REALTORSÂŽ statistics, as of August 31, 2017
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
6.68%
7.38%
0.90%
543
829
$218,505
*Differences indicated from August 2016 Greater Augusta Association of REALTORS® statistics, as of August 31, 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:
Residential sales in Augusta County were extremely strong again in August with 168 sales. This makes the third out of the past 4 months with more than 165 sales, which is significantly higher than the past several years. Buyer activity remains strong as we head into the fall market. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 8/31/17
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:
August was another very strong month for new contracts with buyers ratifying contracts on 180 homes. Buyer activity is strong throughout all price ranges, and we expect a very busy fall. Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 8/31/17
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro As of August 31, 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: The very strong summer sales have boosted our Year-to-Date total to 1,074, nearly 7% higher than last year. With the strong buyer and contract activity that we are currently seeing, we expect this rate of increase to continue. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 8/31/17
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro Month of August, 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 Months Sales total increased to 1,578 by the end of August, nearly 7% higher than last year at this point. The fact that the Year-to-Date and 12 Month increases over the prior year are nearly identical indicates that sales have been steady this year compared to the past full year. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 8/31/17
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro Month of August, 2013-2017
What This Chart Shows: 12 months average and median sales prices as of the date on the chart.
Bottom Line: The rate of increase of the average and median sales prices appears to be accelerating, something we have been expecting for over a year. The average price of homes sold in the last year is $195,565 which is 3.6% higher than last year. We continue to believe prices will rise in response to low inventory numbers. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 8/31/17
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro as of August 31, 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:
Overall inventory remains low but especially low in the City of Waynesboro and county properties, where the numbers continue to decline. The low inventory combined with the continued strong buyer activity will create an even more competitive environment for homes. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 8/31/17
READ MORE ON: KlineMay.com
2352 JEFFERSON HWY WAYNESBORO, VA 22980 FIRM PHONE NUMBER - 540.943.7410