AUGUSTA COUNTY MARKET REPORT January 2017
Presented by:
K L I N E RMe aAl tYy
STAUNTON, WAYNESBORO & AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
10.96%
9.83%
81
1,519
12 Month Average Sales Price
$189,187
-0.04%
*Differences indicated from January 2016 Greater Augusta Association of REALTORS® statistics, as of January 31, 2017
STAUNTON Units Sold Year to Date
16
-27.27%
12 Month Residential Sales
18.40%
386
12 Month Average Sales Price
$158,705
-1.10%
*Differences indicated from January 2016 Greater Augusta Association of REALTORS® statistics, as of January 31, 2017
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
42.86%
12.29%
6.82%
20
329
$168,502
*Differences indicated from January 2016 Greater Augusta Association of REALTORS® statistics, as of January 31, 2017
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
21.62%
5.24%
$212,285
45
804
-0.64%
*Differences indicated from January 2016 Greater Augusta Association of REALTORS® statistics, as of January 31, 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 saw in 2016 appears to be continuing into 2017 with January’s sales consistent with the past two years. We believe sales would have been stronger had there been more inventory for buyers to consume. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 1/31/17
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:
January is typically a slow month for new contracts, but that was not the case this year. Buyers ratified contracts on 114 properties during January, a large jump compared to this past December and January 2016. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 1/31/17
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro January 31
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: One month’s sales is not much of an indication of the overall market, but the consistency over the past four years is very interesting.
Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 1/31/17
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro Month of January
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 1,519 units represents a 9.5% 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, 1/31/17
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro Month of December, 2012-2016
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 remained nearly flat for over a year. We feel this has to change because a combination of lower inventory and favorable market conditions for Buyers will create upward pressure on pricing in the spring. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 1/31/17
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro January 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:
The inventory jumped a bit this month but is still below historic norms. Homeowners planning to sell in 2017 should consider going on the market now while there is little competition. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 1/31/17
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