AUGUSTA COUNTY MARKET REPORT October 2016
Presented by:
K L I N E RMe aAl tYy
STAUNTON, WAYNESBORO & AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
6.80%
6.47%
1,256
1,465
12 Month Average Sales Price
$188,852
-0.31%
*Differences indicated from October 2015 Greater Augusta Association of REALTORS® statistics, as of October 31, 2016
STAUNTON Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
18.35%
18.30%
1.76%
329
375
$158,732
*Differences indicated from October 2015 Greater Augusta Association of REALTORSÂŽ statistics, as of October 31, 2016
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
6.15%
2.98%
6.00%
276
311
$166,443
*Differences indicated from October 2015 Greater Augusta Association of REALTORS® statistics, as of October 31, 2016
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
2.04%
2.91%
651
779
12 Month Average Sales Price
$212,298
-1.62%
*Differences indicated from October 2015 Greater Augusta Association of REALTORS® statistics, as of October 31, 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:
The slow down in buyer activity that we saw in September resulted in a drop in home sales in October; however, sales still remained strong at 101 units. Buyer activity picked up significantly in October, which we expect to be reflected in November and December transactions. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 10/31/16
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:
After two months of declining buyer activity, the number of homes going under contract rebounded to 164 in October. This total is significantly higher than last October and is stronger than we would expect for this time of the year. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 10/31/16
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro October 31, 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 ten months totaling 1,256, nearly 7% higher than last year’s total through the end of October and 51% higher than 4 years ago. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 10/31/16
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro Month of October, 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:
This chart shows a steady trend of increasing sales over the past 5 years. Our 12 month total of 1,465 is 7% higher than last year, which is a healthy rate of growth as we continue to recover from the recession. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 10/31/16
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro Month of October, 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, 10/31/16
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro October 31, 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:
The inventory of homes for sale continues to shrink; however, it is currently at a healthy level with almost a 6 month supply of homes for sale at the current pace of sales. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 10/31/16
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