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AUGUSTA COUNTY MARKET REPORT December 2017

Presented by:

K L I N E RMe aAl tYy


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Stuanton, Waynesboro, and Augusta County Units Sold

12 Month

12 Month

Year to Date

Residential Sales

Avg Sales Price

1,597

1,597

$198,019

+4.93%

+4.93%

+4.61%

City of Staunton

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Units Sold

12 Month

12 Month

Year to Date

Residential Sales

Avg Sales Price

400

400

$170,558

+1.52%

+1.52%

+8.44%


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City of Waynesboro Units Sold

12 Month

12 Month

Year to Date

Residential Sales

Avg Sales Price

363

363

$178,975

+12.38%

+12.38%

+7.48%

Augusta County

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Units Sold

12 Month

12 Month

Year to Date

Residential Sales

Avg Sales Price

834

834

$219,479

+3.60%

+3.60%

+2.51%


Residential Sales By Month Augusta County, Including Staunton & Waynesboro 160

2015 2016

# of Units

140

2017

120

100

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What This Chart Shows: Residential home sales by month, since 2013. This chart helps show seasonal trends in home sales. Bottom Line: Monthly sales totals have gone up and down through the second half of 2017, and finished on a slightly upward trend with 123 sales in December. Despite limited inventory, the Augusta County residential real estate market had a very strong year.


Residential Properties Placed Under Contract Augusta County, Including Staunton & Waynesboro

# of Units

200

150

Bottom Line: December is typically the slowest month of the year for new contracts, as a combination of winter weather and holiday festivities distract many December's 80 contracts. Activity seems to be increasing quickly in January, so we expect this number to rise dramatically over the next few months.

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The number of residential properties on which Buyers and Sellers entered into contracts each month. This is an excellent indicator of future sales.

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What This Chart Shows:

folks from house hunting. This year is no different, with 90 properties going under contract in December, the lowest monthly total since last

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Residential Sales, Past 12 Months Augusta County, Including Staunton & Waynesboro 1600

# of Units

1400

1200

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What This Chart Shows: The past twelve months sales, for this month and each month since 2010. This is one of the best ways to see the true long term trend in the market. Bottom Line: The Augusta County market has enjoyed a steadily increasing 12-month sales trend since May, 2011. In 2017 there were 1,597 homes sales, a nearly 5% increase over 2016's total of 1,505. An annual rate of increase in sales of 5% is a great pace which should be sustainable without any kind of market "bubble". We expect 2018 to be a very similar year.

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Average and Median Sold Price Augusta County, Including Stuanton & Waynesboro $200000

Average Sold Price Median Sold Price

$190000

Price

$180000

$170000

$160000

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$150000

What This Chart Shows: The long term trend in average and median sales prices for homes. Bottom Line: While uctuating a bit throughout the year, the average and median sales prices rose by 4.6% and 2.9% respectively. As with a 5% increase in the pace of sales, the rate of increase we saw in pricing is very sustainable and, in fact, a bit lower than what we would expect given the shortage of inventory in the market.

Profile for Kline May Realty

2017 Augusta County Year End Market Report  

2017 Augusta County Year End Market Report