AUGUSTA COUNTY MARKET REPORT November 2016
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
8.59%
6.95%
0.72%
1,390
1,492
$189,843
*Differences indicated from November 2015 Greater Augusta Association of REALTORS® statistics, as of November 30, 2016
STAUNTON Units Sold Year to Date
12 Month Residential Sales
19.21%
16.62%
360
379
12 Month Average Sales Price
$157,279
-0.92%
*Differences indicated from November 2015 Greater Augusta Association of REALTORSÂŽ statistics, as of November 30, 2016
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
7.12%
3.27%
5.72%
301
316
$166,955
*Differences indicated from November 2015 Greater Augusta Association of REALTORSÂŽ statistics, as of November 30, 2016
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
4.59%
4.32%
0.48%
729
797
$214,404
*Differences indicated from November 2015 Greater Augusta Association of REALTORSÂŽ statistics, as of November 30, 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:
Sales rebounded in November increasing nearly 30% from October’s totals. This is not at all typical for this time of year and demonstrates the market is still busy going into winter. Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 11/30/16
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:
In addition to strong sales in November, contract activity was strong as well. With the 142 properties going under contract representing a 19% increase over this time last year. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 11/30/16
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro November 30, 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: The strong year in sales continues with sales through the first eleven months totaling 1,390, nearly 8.5% higher than last year’s total through the end of November. An annual total of 1,500 sales is a realistic possibility for this year. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 11/30/16
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro Month of November, 2012-2016
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 steady trend of increasing sales continues with our current 12-month total standing at 1,492 sales. The rate of growth we have seen over the past 5 years in reasonable and sustainable and will likely continue through 2017. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 11/30/16
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro Month of November, 2012-2016
What This Chart Shows: 12 months average and median sales prices as of the date on the chart.
Bottom Line:
Both the average and median prices have been essentially flat over the past 12 months. We feel this is due more to the mix of homes being sold (low price vs. high price) than a reflection of actual home pricing trends. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 11/30/16
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro November 30, 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:
As has been the case in Rockingham County over the past 2 years, the supply of homes for sale in Augusta County continues to shrink and now stands at only 4.5% at the current pace of sales. This number is very low for our area and will cause upward pressure on prices next year if more homes aren’t available for sale. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 11/30/16
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