2015 Augusta County Market Report Annual Recap

AUGUSTA COUNTY MARKET REPORT DECEMBER 2015

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STAUNTON, WAYNESBORO & AUGUSTA COUNTY 12 Month Average Sales Price

Units Sold Year to Date

2.89%

4.11%

$188,875

1,393

*Differences indicated from December 2014 Greater Augusta Association of REALTORS速 statistics, as of December 31, 2015

STAUNTON 12 Month Average Sales Price

Units Sold Year to Date

4.81%

6.84%

$158,246

328

*Differences indicated from December 2014 Greater Augusta Association of REALTORS速 statistics, as of December 31, 2015

WAYNESBORO 12 Month Average Sales Price

$158,074

-1.91%

Units Sold Year to Date

1.35%

300

*Differences indicated from December 2014 Greater Augusta Association of REALTORS速 statistics, as of December 31, 2015

AUGUSTA COUNTY 12 Month Average Sales Price

Units Sold Year to Date

3.86%

4.08%

$214,086

765

*Differences indicated from December 2014 Greater Augusta Association of REALTORS速 statistics, as of December 31, 2015

SALES ACTIVITY THIS MONTH RESIDENTIAL SALES BY MONTH Augusta County, Including Staunton and Waynesboro Monthly Sales, 2013-2015

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: As we mentioned last month, sales typically rebound in December, and that’s what happened again this year with monthly sales increasing to 122. In addition to the strong finish in closed sales, Buyer Activity remained very strong leading us to believe January and February will be strong months as well.

Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 12/31/15

SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro As of December 31

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 year’s residential sales total of 1,393 is slightly better than a 4% increase over last year and a 31% increase over three years ago. We expect 2016 sales to increase at a similar rate, somewhere between 3-5%.

Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 12/31/15

PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro December 31, 2015

What This Chart Shows: 12 months average and median sales prices as of the date on the chart.

Bottom Line: Like the sales totals, pricing has been steadily rising at a reasonable pace over the past few years. The steady “steps up” in the chart above show a clear trend, which we expect to continue in 2016.

Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 12/31/15

INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro December 31, 2015

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:

In terms of the inventory of homes for sale, there is a 6.57 month “supply” of homes for sale at the current pace of sales. Obviously, this measure takes into account both the number of homes for sale and the pace at which homes have sold over the past year. This number has been coming down throughout the year, and anything near 6 moths supply is considered to be a healthy market, with neither a shortage, nor an oversupply of homes for sale.

Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 12/31/15

MEET OUR REALTORS速

Minnie Stevenson Managing Broker 540-480-0648

Karen Carpenter 540-292-0352

Ed Davis 540-943-7410

Russ Davis 540-437-9503

Derek Flory 540-448-2702

Chad Gensel 540-910-0838

Susan Gibson 540-487-1000

Lucy Harris 540-569-0778

Jupie Wagner 540-294-3411

Tim Wilday 540-272-7278

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