AUGUSTA COUNTY MARKET REPORT February 2017
Presented by:
K L I N E RMe aAl tYy
STAUNTON, WAYNESBORO & AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
8.44%
10.20%
167
1,524
12 Month Average Sales Price
$189,441
-0.60%
*Differences indicated from February 2016 Greater Augusta Association of REALTORS® statistics, as of February 28, 2017
STAUNTON Units Sold Year to Date
43
-2.27%
12 Month Residential Sales
18.84%
391
12 Month Average Sales Price
$161,001
-0.36%
*Differences indicated from February 2016 Greater Augusta Association of REALTORS® statistics, as of February 28, 2017
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
8.33%
9.36%
2.17%
39
327
$165,757
*Differences indicated from February 2016 Greater Augusta Association of REALTORS® statistics, as of February 28, 2017
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
14.86%
6.75%
$212,847
85
806
-0.75%
*Differences indicated from February 2016 Greater Augusta Association of REALTORS® statistics, as of February 28, 2017
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 4 years. This chart helps show seasonal trends in home sales.
Bottom Line:
The strong buyer activity that we’ve seen through the winter continues with February’s sales slightly above recent years. As we said last month, we believe sales would have been stronger had there been more inventory for Buyers to consume. Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 2/28/17
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:
The rate at which Buyers are placing contracts on houses for sale is significantly exceeding the first two months of last year with 240 contracts placed on houses for sale vs. 175 at this point last year. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 2/28/17
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro Month of February, 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: We seem to have an every other year pattern going on with residential sales. Luckily, this appears to be one of the good years with 8.5% more sales volume than last year. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 2/28/17
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro Month of February, 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 past 12 Months Sales of 1,524 units represents a 10% increase over the 12 month total at this point last year, outpacing the increases over the last several years. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 2/28/17
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro Month of February, 2013-2017
What This Chart Shows: 12 months average and median sales prices as of the date on the chart.
Bottom Line:
Despite strong buyer activity and shrinking inventory, the average price of homes sold has dropped slightly. We believe this is a temporary condition and prices will rise sharply through the remainder of 2017. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 2/28/17
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro February 28, 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. This represents a great opportunity for sellers to have many buyers competing to purchase their home. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 2/28/17
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