AUGUSTA COUNTY MARKET REPORT March 2017
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K L I N E RMe aAl tYy
STAUNTON, WAYNESBORO & AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
11.42%
11.68%
283
1,540
12 Month Average Sales Price
$190,142
-0.32%
*Differences indicated from March 2016 Greater Augusta Association of REALTORS® statistics, as of March 31, 2017
STAUNTON Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
7.14%
19.28%
0.13%
75
396
$161,498
*Differences indicated from March 2016 Greater Augusta Association of REALTORSÂŽ statistics, as of March 31, 2017
WAYNESBORO Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
19.64%
15.07%
3.39%
67
336
$167,198
*Differences indicated from March 2016 Greater Augusta Association of REALTORSÂŽ statistics, as of March 31, 2017
AUGUSTA COUNTY Units Sold Year to Date
12 Month Residential Sales
12 Month Average Sales Price
11.42%
7.02%
$213,722
141
808
-0.57%
*Differences indicated from March 2016 Greater Augusta Association of REALTORSÂŽ statistics, as of March 31, 2017
SALES ACTIVITY THIS MONTH RESIDENTIAL SALES BY MONTH Augusta County, Including Staunton and Waynesboro Monthly Sales, 2013-2017
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 Spring Market seems to have started a little early this year with a huge increase in sales during the month of March. Activity in the early Spring Market is extremely weather dependent, and this year’s mild weather has encouraged early activity. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 3/31/17
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:
Combined with the strong sales in March, Buyers ratified contracts on 201 homes for sale. This is a very high level of activity and is 20% higher than the contract total from last March. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 3/31/17
SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro Month of March, 2013-2017
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: Sales for the first quarter of 2017 rose 11.4% over last year possibly due to an earlier start to the Spring Market.
Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 3/31/17
SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro Month of March, 2013-2017
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 1,540 units represents a 11.6% 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, 3/31/17
PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro Month of March, 2013-2017
What This Chart Shows: 12 months average and median sales prices as of the date on the chart.
Bottom Line: Prices are nearly flat compared to last year. However, we expect the rate of increase to go up fairly dramatically this year despite the fact that Buyers appear to be less emotional about competing for houses than in the mid 2000s. Instead of driving prices up irrationally, today’s Buyers withdraw from bidding when they reach their limit. Source: Greater Augusta Association of REALTORSŽ Multiple Listing Service, 3/31/17
INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro as of March 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 is now significantly below historic norms with roughly half the supply of homes for sale as is typical. Buyers and Sellers should be sure to talk with their agent about how to handle competitive multiple offer situations. Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 3/31/17
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