2018 february klinemay marketreport augusta

AUGUSTA COUNTY MARKET REPORT February 2018

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

180

1,612

$200,263

+7.78%

+5.77%

+5.71%

City of Staunton

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Units Sold

12 Month

12 Month

Year to Date

Residential Sales

Avg Sales Price

53

410

$169,693

+23.26%

+4.86%

+5.40%

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City of Waynesboro Units Sold

12 Month

12 Month

Year to Date

Residential Sales

Avg Sales Price

360

$180,661

+10.09%

+8.99%

35 -10.26%

Augusta County

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Units Sold

12 Month

12 Month

Year to Date

Residential Sales

Avg Sales Price

92

842

$223,530

+8.24%

+4.47%

+5.02%

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

2015 2016

# of Units

140

2017 2018

120

100

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80

What This Chart Shows: Residential home sales by month, since 2013. This chart helps show seasonal trends in home sales.

Bottom Line: The strong start to 2018 continued in February, with 89 closed sales. We believe the mild winter, combined with fears of interest rates rising, have spurred Buyers into action earlier than normal this year.

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

# of Units

200

150

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100

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: Strong sales numbers are the result of strong contract numbers, and the trend continued in February with 134 contracts ratified, pushing the 2018 total through the first two months of the year 12% higher than last year.

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

# of Units

1400

1200

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20 10 M Se ay ,2 pt em 01 0 be r, 20 Ja nu 10 ar y, 20 11 M Se ay ,2 pt em 01 1 be r, 20 Ja nu 11 ar y, 20 12 M Se ay ,2 pt em 01 2 be r, 20 Ja nu 12 ar y, 20 13 M Se ay ,2 pt em 01 3 be r, 20 Ja nu 13 ar y, 20 14 M Se ay , pt em 201 4 be r, 20 Ja nu 14 ar y, 20 15 M Se ay ,2 pt em 01 5 be r, 20 Ja nu 15 ar y, 20 16 M Se ay , pt em 201 6 be r, 20 Ja nu 16 ar y, 20 17 M Se ay ,2 pt em 01 7 be r, 20 Ja nu 17 ar y, 20 18 M Se ay ,2 pt em 01 8 be r, 20 18

1000

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 long term sales trend in Augusta County continues to increase at a fairly steady rate. If there is enough inventory this year to satisfy the Buyers in the market, these numbers should continue to increase.

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

Average Sold Price Median Sold Price

Price

$190000

$180000

$170000

$160000

Ja nu ar

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$150000

What This Chart Shows: The long term trend in average and median sales prices for homes.

Bottom Line: As with the sales trend, pricing continues to rise at a sustainable rate. The average sales price in Augusta County has risen past the $200,000 mark for the ďŹ rst time since before the recession, and all indication are this will continue.