March 2016 Augusta County Market Report

AUGUSTA COUNTY MARKET REPORT March 2016

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STAUNTON, WAYNESBORO & AUGUSTA COUNTY Units Sold Year to Date

254

-4.15%

12 Month Residential Sales

12 Month Average Sales Price

0.66%

2.89%

1,379

$190,755

*Differences indicated from March 2015 Greater Augusta Association of REALTORS速 statistics, as of March 31, 2016

STAUNTON Units Sold Year to Date

12 Month Residential Sales

12 Month Average Sales Price

4.48%

5.06%

5.08%

70

332

$161,286

*Differences indicated from March 2015 Greater Augusta Association of REALTORS速 statistics, as of March 31, 2016

WAYNESBORO Units Sold Year to Date

12 Month Residential Sales

12 Month Average Sales Price

56

292

$161,714

-9.68%

-6.71%

-0.19%

*Differences indicated from March 2015 Greater Augusta Association of REALTORS速 statistics, as of March 31, 2016

AUGUSTA COUNTY Units Sold Year to Date

128

-5.88%

12 Month Residential Sales

12 Month Average Sales Price

1.89%

2.94%

755

$214,945

*Differences indicated from March 2015 Greater Augusta Association of REALTORS速 statistics, as of March 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: Although first quarter sales are still below last year’s totals, the market rebounded nicely in March with 98 sales.

Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 3/31/16

SALES TRENDS RESIDENTIAL UNITS SOLD YEAR TO DATE Augusta County, Including Staunton and Waynesboro March 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: Although the first quarter totals are lagging behind last year’s numbers, sales recovered strongly March and are generally in line with what we would expect at this point in the year.

Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 3/31/16

SALES TRENDS 12-MONTH RESIDENTIAL SALES Augusta County, Including Staunton and Waynesboro As of March 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: The pace of residential sales in Augusta County has been quite strong over the past 12 months, exceeding the prior 12 Month Sales’s total by a whopping 28%, and the 2012 total of 806 by 71%.

Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 3/31/16

PRICING AVERAGE AND MEDIAN PRICE, 12 MONTH SALES Augusta County, Including Staunton and Waynesboro February 29, 2016

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

Bottom Line:

The long term trend in home values has been steadily increasing at a moderate, sustainable pace with the current 12 month average nearly 3% higher than last year’s. The median price, probably the best measure of value, increased nearly 5% over last year, an impressive jump that is welcome news for Sellers.

Source: Greater Augusta Association of REALTORSÂŽ Multiple Listing Service, 3/31/16

INVENTORY MONTHS SUPPLY OF INVENTORY Augusta County, Including Staunton and Waynesboro March 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:

In terms of inventory, there is a 6.83 month “supply” of homes for sale at the current pace of sales, which is nearly the same of last month. A supply in the 5-6 month range is considered to be indicative of a healthy market, with neither a shortage, nor an oversupply of homes for sale.

Source: Greater Augusta Association of REALTORS® Multiple Listing Service, 3/31/16

MEET OUR REALTORS速

Minnie Stevenson Managing Broker 540-480-0648

Barbara Beverage 540-430-0919

Karen Carpenter 540-292-0352

Ed Davis 540-943-7410

Russ Davis 540-437-9503

Derek Flory 540-448-2702

Susan Gibson 540-487-1000

Lucy Harris 540-569-0778

Cody Persinger 540-292-9224

Jupie Wagner 540-294-3411

Tim Wilday 540-272-7278

Tammy Wiles 540-487-3044

2352 JEFFERSON HWY WAYNESBORO, VA 22980 FIRM PHONE NUMBER - 540.943.7410

Chad Gensel 540-910-0838

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