2016
ANNUAL MARKET REPORT CHARLOTTESVILLE
2
CONTENTS WELCOME A Letter From the Broker BIRDS-EYE VIEW 2016 Highlights-at-a-Glance CHARLOTTESVILLE AREA MSA CITY OF CHARLOTTESVILLE ALBEMARLE AUGUSTA COUNTY CROZET IVY BARRACKS EARLYSVILLE KESWICK RIO SOUTHSIDE 29 NORTH FLUVANNA GREENE NELSON LOUISA NEW CONSTRUCTION ESTATES AND FARMS STAUNTON WAYNESBORO FISHERSVILLE STUART’S DRAFT ROCKINGHAM COUNTY HARRISONBURG
04 05 06 08 10 12 14 15 16 17 20 21 22 23 24 25 26 27 29 30 32 33 34 35 36 37 3
CHARLOTTESVILLE
HELLO!
Nest Realty is proud to present the 2016 Nest Annual Report. This yearly wrap-up is designed to provide a thorough analysis of the Charlottesville real estate market. We’ve processed a year’s worth of sales data to provide you with relevant metrics and statistics to explain what’s happening in our local market. So whether you’re looking to buy a new home, sell your current home, or simply learn more about the Charlottesville area real estate market, we hope you find this report to be an effective resource.
LOCAL
Drastic declines in inventory levels continued to be the story in 2016. Average inventory levels in the Charlottesville metropolitan statistical area (MSA) dropped more than 17% from 2015 levels. Limited inventory did not suppress sales however, as buyer demand remained strong resulting in a 7% year-overyear increase in sales in the Charlottesville MSA. This marks
4
the fifth consecutive year of sales growth for our region. As we expected at the beginning of the year, limited inventory levels resulted in increased sales prices. Average sales price in Albemarle County and the City of Charlottesville rose more than 5% and 6% respectively. As we move into 2017, current conditions continue to favor sellers as the the market is prepared to absorb an influx of inventory.
TRENDS
Activity in our local market mirrors many of the trends being witnessed at the national level. Limited inventory levels continued to be a common theme on a national level but didn’t prevent existing homes sales from reaching a ten year high in 2016. Median sales prices rose throughout most parts of the country this past year as a result of depressed inventory levels. Moving into 2017, the trajectory of interest rates remain uncertain, but national outlooks are positive. This will be an important factor that we monitor throughout the year.
OUR TEAM
Once again, Nest Realty Charlottesville attained #1 market share in the entire MSA, Albemarle, and the City of Charlottesville for both closed volume representing buyers, and closed volume representing sellers. This marks the third year in a row in which we have achieved this distinction. Inc. Magazine also recognized Nest Realty as one of the fastestgrowing private real estate brokerages in America for the fourth year in a row. We happily welcomed six new brokers to our team and are excited to have them as stewards of the Nest brand. We are also excited to be opening new offices in Staunton and Richmond, VA, and Durham, NC, in 2017, giving us a total of eight offices.
LOOK FOR OUR TREND INDICATORS
NEST BIRD’S-EYE VIEW ANNUAL
IN 2016
OF TRANSACTIONS
IN THE CITY OF
CHARLOTTESVILLE
TOTAL CLOSINGS
$450,000,000 $418,000,000
$400,000,000 $373,000,000
$350,000,000
NEST RANKS
40%
1,055
TOTAL SALES VOLUME
$320,000,000
$300,000,000
$298,500,000
AND
30%
$200,000,000
ALBEMARLE COUNTY
$100,000,000
OF TRANSACTIONS IN
$250,000,000
$150,000,000
$147,500,000
2012
INVOLVED A
2013
2014
2015
2016
SEE PAGE 18-19 FOR A SAMPLING OF HOUSES SOLD IN 2016
AGENT
TOTAL S A L E S
1
#
• TOTAL VOLUME OF LISTED PROPERTY SOLD IN MSA • TOTAL VOLUME OF LISTED PROPERTY SOLD IN ALBEMARLE • TOTAL VOLUME OF LISTED PROPERTY SOLD IN THE CITY OF CHARLOTTESVILLE • TOTAL BUYER TRANSACTIONS IN MSA, ALBEMARLE, & CITY OF CHARLOTTESVILLE
$418,000,000
5
CHARLOTTESVILLE MSA AREA ANALYSIS FOR CHARLOTTESVILLE MSA* MSA
2014
%
2015
%
2016
Total Sales
3,062
7.18
3,282
7.07
3,514
264,950
1.91
270,000
1.85
150
-0.67
86
-10.47
336,578
4.44
$
326,094
4.73
$
5.63
-20.96
1,070,243,700
12.14
$
Median Price Price per Sq. Ft.
$
149
0.67
Days on Market
101
-14.85
349,309
-3.64
$
345,238
-5.55
$
9.67
-41.78
1,057,117,490
1.24
Avg. List Price
$
Avg. Sale Price
$
Months of Inventory Total Volume
6
$
$
$
$
$
275,000 $
149 77
351,523
341,534 4.45
1,200,151,553
$
*The Charlottesville Area MSA consists of the City of Charlottesville, Albemarle, Fluvanna, Greene, Louisa, and Nelson counties. Data as of 1/9/17
TOTAL SALES
MONTHS OF INVENTORY 10
3,600
9.94
3,514
3,400 3,200
8
2,940
0 2013
2014
2015
2016
2012
TRENDING
2,250
263,000 264,950
2014
2015
2016
INVENTORY LEVELS
$280,000
$240,000
2013
TRENDING
MEDIAN PRICE $260,000
4.45
2
2,695 2012
5.63
4
3,062
2,800 2,600
9.67
6
3,282
3,000
8.51
270,000
275,000
2,273
2,000
247,500
1,750
$220,000
1,500
$200,000
1,250
$180,000
1,822
1,968
1,533 1,265
1,000 2012
2013
2014
2015
2016
2012
TRENDING
2013
2014
2015
2016
TRENDING
SALES BY TYPE 2,709 505 300
SINGLE FAMILY ATTACHED CONDO
SALES BY PRICE POINT 2016
46%
28%
16%
6%
4%
2015
30%
46%
15%
6% 3%
2014
32%
44%
15%
5% 4%
0%
25%
50%
75%
$0-199,999 $200,000-399,999 $400,000-599,999 $600,000-799,999 $800,000+
100%
7
CITY OF CHARLOTTESVILLE 2014
%
512
-0.39
261,250
3.35
185
1.62
76
-17.11
325,856
-2.38
$
310,674
-0.36
$
6.77
-49.48
159,065,097
-0.75
CHARLOTTESVILLE Total Sales $
Median Price
$
Price per Sq. Ft. Days on Market Avg. List Price
$
Avg. Sale Price
$
Months of Inventory Total Volume
8
$
2015
%
510
16.08
270,000
3.61
188
-0.53
63
-12.70
318,116
5.69
$
309,551
6.30
$
3.42
-47.95
157,871,434
23.40
$
$
$
2016
592 $
279,750 $
187 55
336,216
329,063 1.78
$
194,805,526
TOTAL SALES
MONTHS OF INVENTORY 10
600
592
550 500
512
506
502
8 6
510
450
4
400
2
350
0 2012
2013
2014
2015
2016
6.77 4.81
4.04
3.42 1.78
2012
2013
TRENDING
2014
2015
2016
TRENDING
INVENTORY LEVELS
MEDIAN PRICE $280,000
250
279,750 $270,000
200
210
270,000 $260,000
150
261,250
$250,000
166 130
100
250,000
$240,000 $230,000
159
80
50
232,500
0
2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
SALES BY TYPE 429 85 78
SINGLE FAMILY ATTACHED CONDO
SALES BY PRICE POINT 2016
57%
20%
5% 3%
16%
2015
24%
57%
13%
4% 2%
2014
26%
53%
14%
4% 2%
0%
25%
50%
75%
$0-199,999 $200,000-399,999 $400,000-599,999 $600,000-799,999 $800,000+
100%
9
ALBEMARLE COUNTY 2014
%
1,468
8.51
325,000
0.00
160
-1.25
98
-24.49
435,114
-6.61
$
427,808
-7.72
$
8.71
-39.61
628,022,691
0.14
ALBEMARLE Total Sales $
Median Price
$
Price per Sq. Ft. Days on Market Avg. List Price
$
Avg. Sale Price
$
Months of Inventory Total Volume
10
$
2015
%
1,593
6.15
325,000
3.69
158
0.63
74
-8.11
406,342
5.46
$
394,789
5.42
$
5.26
-21.29
628,900,377
11.91
$
$
$
2016
1,691 $
337,000 $
159 68
428,548 416,192 4.14
$
703,780,120
TOTAL SALES
MONTHS OF INVENTORY
1,700
10
1,691
1,600
8
1,593
1,400
1,423
1,468
5.26
4
4.14
2
1,300
1,286
0
2012
2013
2014
2015
2012
2016
TRENDING
2013
2014
2015
2016
TRENDING
INVENTORY LEVELS
MEDIAN PRICE 1,000
$350,000
337,000
$325,000
319,500
$300,000
967
900
325,000 325,000 800
290,000 $275,000
700
$250,000
600
$225,000
8.71
6
1,500
1,200
9.38
8.48
835 789 679 542
500 2012
2013
2014
2015
2016
2012
TRENDING
2013
2014
2015
2016
TRENDING
SALES BY TYPE 1,145 401 145
SINGLE FAMILY ATTACHED CONDO
SALES BY PRICE POINT 2016
19%
2015
20%
45%
2014
22%
42%
0%
42%
25%
22% 20% 20%
50%
75%
10%
7%
10% 5% 9%
8%
$0-199,999 $200,000-399,999 $400,000-599,999 $600,000-799,999 $800,000+
100%
11
AUGUSTA COUNTY 2014
%
913
-11.39
188,500
0.80
111
0.00
137
-14.60
217,763
AUGUSTA Total Sales $
Median Price
$
Price per Sq. Ft.
12
809
-1.73
190,000
5.21
111
-2.70
$
2016
795 $
199,900 $
117
-14.53
4.53
227,622
-2.60
$
209,982
4.60
$
219,639
-2.14
$
191,713,183
-7.32
177,687,700
-3.84
Avg. List Price
$
Avg. Sale Price
$ $
%
$
Days on Market
Total Volume
$
2015
$
108
100
$
221,701
214,930
170,869,175
MEDIAN PRICE
TOTAL SALES 1,000
$200,000
900
$190,000
913 850
800
809
754
700
199,900 185,000
$180,000
795
$170,000
188,500
190,000
175,500
$160,000
600 500
$150,000 2012
2013
2014
2015
2012
2016
2013
2014
2015
2016
TRENDING
TRENDING
TOTAL CLOSED VOLUME $200,000,000
191,713,183
$180,000,000
177,999,761
$160,000,000 $140,000,000
177,687,700
170,869,175
148,286,905
$120,000,000 $100,000,000 2012
2013
2014
2015
2016
TRENDING
SALES BY TYPE 758 32 3
SINGLE FAMILY ATTACHED CONDO
SALES BY PRICE POINT 2016
10%
2015
9%
2014
9%
0%
40% 46%
15%
27%
45%
25%
14%
33%
14%
30%
50%
75%
2% 3% 2%
$0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+
100%
13
CROZET TOTAL SALES
MONTHS OF INVENTORY
300
10
285
250 200
256 244
255
279
8
9.04
8.90
9.79
6
150
4
100
2
5.60 2.93
0
50 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $425,000
418,764
$400,000
396,845
2016
285
-2.11
279
$
396,845
5.52
62
-11.29
Days on Market
360,000
$350,000
364,300
$325,000
317,074 2014
TRENDING
2015
2016
418,764 55
$
416,067
9.91
$
457,292
Avg. Sale Price
$
412,809
10.03
$
454,213
5.60
-47.75
117,650,796
7.71
Total Volume 2013
$
Avg. List Price
Months of Inventory
2012
14
%
Total Sales Median Price
$375,000
$300,000
2015
CROZET
$
2.93 $
126,725,450
IVY TOTAL SALES
MONTHS OF INVENTORY
180
14
160
161
140
160
156
171
13.60
12 10
120
8
8.27
120 100
6
80
4 2012
2013
2014
2015
2016
9.38 7.85 4.83
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $650,000
620,000
$600,000 $550,000
625,000
2016
160
6.88
171
588,950
6.12
89
10.11
763,540
11.90
$
721,390
11.46
$
7.85
-38.43
115,422,410
19.13
$
Days on Market
$500,000 $450,000
Avg. List Price
$
Avg. Sale Price
$
Months of Inventory Total Volume
$400,000 2012
%
Total Sales Median Price
588,950
562,000
2015
IVY
640,000
2013
2014
TRENDING
2015
$
$
625,000 98 854,393
804,097 4.83
$
137,500,532
2016
15
BARRACKS TOTAL SALES
MONTHS OF INVENTORY
160
10
159
140
6
120 100
103 80
98
2013
2014
7.80
7.33 5.00
4
115 90
9.67
8
3.44
2 0
60 2012
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $250,000
250,000 $225,000
BARRACKS
2015
%
2016
Total Sales
115
38.26
159
191,000
2.09
72
-8.33
301,829
-12.65
$
285,361
-9.70
$
5.00
-31.11
32,816,549
24.85
$
Median Price $200,000
190,500 $175,000
191,000
195,000
176,450
$150,000
Avg. List Price
$
Avg. Sale Price
$
Months of Inventory Total Volume
$125,000 2012
16
Days on Market
2013
2014
TRENDING
2015
FLAT
2016
$
$
195,000 66 263,637 257,691 3.44
$
40,972,824
EARLYSVILLE TOTAL SALES
MONTHS OF INVENTORY
100
25
80
20
75
60
70
70
79 15
56 10
40 20
5
0
0 2012
2013
2014
2015
2016
14.57 9.44
10.11
8.67 3.50
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $450,000
EARLYSVILLE
$400,000
Total Sales
415,000 405,000
$350,000
350,000
337,500
$300,000
$
Median Price
348,000
$250,000
2013
2014
TRENDING
2015
2016
70
12.86
79
337,500
3.11
102
-2.94
Avg. List Price
441,784
Avg. Sale Price
$
Total Volume 2012
%
$
Days on Market
Months of Inventory
$200,000
2015
$
$
348,000 99
-3.89
$
424,620
420,377
-2.54
$
409,693
8.67
-59.63
29,426,399
9.99
3.50 $
32,365,779
2016
17
A SAMPLING OF NEST’S
2016 SOLD PROPERTIES
18
121 BLOOMFIELD ROAD $2,250,000
327 SW 6TH STREET $215,000
656 SPRING FOREST LANE $625,000
1204 BLUE RIDGE ROAD $1,380,000
1310 COURTYARD DRIVE $308,000
1528 WESTWOOD ROAD $739,000
2326 HIGHLAND AVENUE $430,000
2345 HYLAND CREEK DRIVE $1,133,888
2436 BACON HOLLOW ROAD $330,000
5085 RUTHERFORD ROAD $1,380,000
5575 SUMMERDEAN ROAD $323,000
6195 LAURA LANE $312,000
715 LENOX HILL ROAD $810,000
836 COLE STREET $320,000
1110 MONTROSE AVENUE $231,000
1855 CANDLEWOOD COURT $193,000
2016 SPOTTSWOOD ROAD $1,798,112
2276 OAKRIDGE COURT $637,500
3300 MORGANTOWN ROAD $340,500
3520 FOXWOOD DRIVE $579,000
4776 BREAK HEART ROAD $459,900
6568 PLANK ROAD $745,000
6571 WOODBOURNE LANE $902,100
7111 HAMPSTEAD DRIVE $770,000
19
KESWICK TOTAL SALES
MONTHS OF INVENTORY
300
12
279
250 200
218
237 208
225
12.15
10 8
150
6
100
4
10.32 9.52
9.42
4.89
2
50 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $400,000
390,000
$375,000
380,000
389,900
2016
225
24.00
279
380,000
2.61
92
-15.22
468,210
7.89
$
457,229
5.93
$
9.42
-48.13
102,876,749
31.36
Avg. List Price
$
Avg. Sale Price
$
Months of Inventory
301,091
Total Volume
$275,000 2012
$
Days on Market
$325,000
20
%
Total Sales Median Price
360,000
$350,000
$300,000
2015
KESWICK
2013
2014
TRENDING
2015
2016
$
$
389,900 78 505,167
484,355 4.89
$
135,137,078
RIO TOTAL SALES 200
MONTHS OF INVENTORY 10
204 188
180
8
176
168
160
7.91
7.74 6.21
4.76
4
140 120
6
2
124
2.33
0
100 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $300,000
$260,000
263,500
230,700
-13.73
176
263,500
-3.23
62
16.13
293,354
1.51
$
290,652
1.27
$
4.76
-50.98
59,293,055
-12.63
Avg. List Price
$
Avg. Sale Price
$
Months of Inventory Total Volume
$200,000 2013
204
Days on Market
255,000
$240,000
2012
2016
$
Median Price
$220,000
%
Total Sales
287,000
$280,000
2015
RIO
295,000
2014
TRENDING
2015
$
$
255,000 72 297,785
294,329 2.33
$
51,801,942
2016
21
SOUTHSIDE TOTAL SALES 280
MONTHS OF INVENTORY 12
282
10
260 240
246
248
242
10.03
8
220
6
200
4
7.85
7.88 5.98
202
7.85
2
180 2012
2013
2014
2015
2016
4.50
2012
2013
TRENDING
2014
2016
2015
TRENDING
MEDIAN PRICE $300,000 $280,000 $260,000
265,000
267,750
278,950 280,000
226,950
%
2016
Total Sales
282
-12.06
248
278,950
0.38
69
-1.45
321,991
5.88
$
311,762
7.16
$
5.98
-24.75
87,917,074
-5.76
Median Price
Avg. List Price
$
Avg. Sale Price
$
Total Volume 2012
$
Months of Inventory
$200,000
22
2015
Days on Market
$240,000 $220,000
SOUTHSIDE
2013
2014
TRENDING
2015
FLAT
2016
$
$
280,000 68 340,940 334,070 4.50
$
82,849,304
29 NORTH TOTAL SALES
MONTHS OF INVENTORY
300
10
298
275 250
252
4
222
200
219
219
2012
2013
7.78
6
225
175
8
6.02
5.53
4.48 3.21
2 0
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $320,000 $310,000
307,500
$300,000
310,500
308,367
2015
%
2016
Total Sales
252
18.25
298
310,500
-0.69
69
-37.68
337,022
-3.06
$
326,722
331,338
-2.57
$
322,833
4.48
-28.34
83,497,345
15.22
Median Price
$
Days on Market
$290,000 $280,000 $270,000
29 NORTH
2013
$
Avg. Sale Price
$
Months of Inventory
277,000 279,300 2012
Avg. List Price
Total Volume 2014
TRENDING
2015
FLAT
$
$
308,367 43
3.21 $
96,204,211
2016
23
FLUVANNA TOTAL SALES
MONTHS OF INVENTORY
450
12
400
405
410
428
10.46
8
350 300
10
343
8.66
350
8.71
6
4.90
4
250
4.29
2
200 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $225,000 $200,000 $175,000
203,500 182,000
187,500
200,000
2015
%
2016
Total Sales
410
4.39
428
203,500
-1.72
95
-16.84
235,513
Median Price
$
Days on Market
175,500
$150,000 $125,000
2012
2013
2014
TRENDING
2015
2016
79 232,888
228,222
0.01
$
228,250
7.60
-12.45
93,571,329
4.40
Avg. Sale Price
$
Total Volume
200,000
-1.11
Avg. List Price
$
$
$
$
Months of Inventory
$100,000
24
FLUVANNA
4.29 $
97,691,198
GREENE TOTAL SALES
MONTHS OF INVENTORY
260
266
240
242
253
10
215
6
160
4 2013
11.24
10.49
8
209
180
2012
13.37
12
220 200
14
2014
2015
2016
6.29 4.82 2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $250,000
GREENE
247,500
$240,000
225,000 221,000
$210,000
$
253
5.14
266
225,000
10.00
218,750
2013
2014
TRENDING
2015
247,500
86
1.16
Avg. List Price
259,290
3.91
$
Avg. Sale Price
$
246,845
6.86
$
4.82
30.50
62,452,025
12.35
Total Volume
$200,000
$
$
Months of Inventory
2012
2016
Days on Market
230,000 $220,000
%
Total Sales Median Price
$230,000
2015
$
87 269,420 263,777 6.29 $
70,164,625
2016
25
NELSON TOTAL SALES 250
MONTHS OF INVENTORY
230
225
40
218
200 175
50
251
191
181
36.11
30 20
150
21.14
18.52
10
125
13.39
10.60
0 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $275,000
NELSON
245,950 227,900
Median Price
238,750
2016
251
-13.15
218
199,900
-0.20
202
-3.96
254,671
0.81
$
239,858
-1.82
$
13.39
-20.84
60,204,520
-14.73
$
Days on Market
$200,000
199,900 199,500 $175,000
Avg. List Price
$
Avg. Sale Price
$
Months of Inventory Total Volume
$150,000 2012
26
%
Total Sales
$250,000 $225,000
2015
2013
2014
TRENDING
2015
FLAT
2016
$
$
199,500 194 256,742
235,498 10.60
$
51,338,589
LOUISA TOTAL SALES
MONTHS OF INVENTORY
350 300
319
250
222
12.92
10 8
265
200 150
13.57
12
244
8.04
7.89
6 4
168
3.90
2
100 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $220,000
220,000 $210,000
%
2016
265
20.38
319
209,000
5.26
79
-1.27
260,464
1.37
$
253,751
1.76
$
7.89
-50.57
67,244,015
22.50
$
Days on Market
$190,000 $180,000
2015
Total Sales Median Price
209,000
$200,000
LOUISA
182,700
181,950 2013
2014
TRENDING
Avg. Sale Price
$
Months of Inventory
179,750
Total Volume
$170,000 2012
Avg. List Price
$
2015
$
$
220,000 78 264,025 258,218 3.90
$
82,371,495
2016
27
— DAVE & DEBBIE “THE EXPERTISE AND GUIDANCE PROVIDED BY OUR NEST AGENT WAS INVALUABLE.
We developed an instant rapport with our Nest agent during the first meeting. She helped us explore housing options associated with relocating to Charlottesville from out of state. She helped with every step, providing advice, counsel and assistance with negotiations as we worked with a builder to construct our new home. Her expertise was invaluable. As we look back on the entire experience, from selecting our home to finishing construction and closing, we are confident we could not have done this without her expertise, trust and friendship.”
28
NEW CONSTRUCTION TOTAL SALES
MEDIAN PRICE
550
$450,000
531
500
469
450
$300,000
386
373,522 317,075
385,000
339,764
$250,000
300 2012
414,859
$350,000
420
400 350
487
$400,000
2013
2014
2015
2016
$200,000
2012
TRENDING
2013
2014
2015
2016
TRENDING
SALES BY TYPE 393 138
SINGLE FAMILY ATTACHED
BY AREA
TOTAL SALES
% OF TOTAL SALES
Albemarle
326
61.39
Charlottesville City
48
9.04
Fluvanna
51
9.60
Greene
43
8.10
Louisa
63
11.86
Nelson
0
0.00
29
ESTATES AND FARMS TOTAL NUMBER OF SALES CHARLOTTESVILLE
ALBEMARLE
SURROUNDING COUNTIES *Includes the counties of Fluvanna, Greene, Louisa, Madison, Nelson, and Orange
2014
%
2015
%
2016
$800,000-999,999
4
100.00
8
-12.50
7
$1,000,000-1,499,999
6
-66.67
2
200.00
6
$1,500,000+
2
0.00
2
0.00
2
$800,000-999,999
41
-24.39
31
87.10
58
$1,000,000-1,499,999
47
-25.53
35
-8.57
32
$1,500,000+
23
-21.74
18
33.33
24
$800,000-999,999
8
-62.50
3
100.00
6
$1,000,000-1,499,999
4
0.00
4
-25.00
3
$1,500,000+
2
150.00
5
20.00
6
2014
%
2015
%
2016
TOTAL DOLLAR VOLUME OF SALES CHARLOTTESVILLE
ALBEMARLE
SURROUNDING COUNTIES *Includes the counties of Fluvanna, Greene, Louisa, Madison, Nelson, and Orange
30
$800,000-999,999
$
3,594,600
93.71
$
6,963,000
-10.05
$
$1,000,000-1,499,999
$
6,625,000
-62.45
$
2,488,000
196.83
$
$1,500,000+
$
3,817,690
-16.21
$
3,199,000
18.73
$
35,638,439
-24.74
$
26,820,646
87.73
$
55,100,242
-23.68
$
42,054,499
-8.41
$
43,190,500
43.74
$
2,594,000
110.68
$
5,190,000
-38.82
$
11,893,000
6.20
$800,000-999,999
$
$1,000,000-1,499,999
$
$1,500,000+
$
90,176,416
-52.10
$
$800,000-999,999
$
6,808,000
-61.90
$
$1,000,000-1,499,999
$
4,900,000
5.92
$
$1,500,000+
$
24,940,000
-52.31
$
$
6,263,000 7,385,150 3,798,112
50,208,617 38,518,161
62,081,199 5,465,000 3,175,000
12,630,000
COUNTRY PROPERTY SALES 2016
ALBEMARLE
FLUVANNA
GREENE
LOUISA
MADISON
NELSON
ORANGE
5-24.99 Acres
116
35
17
41
16
27
20
25 + Acres
28
6
6
7
10
6
8
ALBEMARLE
FLUVANNA
GREENE
LOUISA
MADISON
NELSON
ORANGE
5-24.99 Acres
111
34
14
40
24
26
15
25 + Acres
25
7
2
12
10
8
3
FLUVANNA
GREENE
LOUISA
MADISON
NELSON
ORANGE
2015
COUNTRY PROPERTY MEDIAN PRICE 2016
ALBEMARLE
491,050
$
805,000
$
5-24.99 Acres
$
25 + Acres
$
2015
ALBEMARLE
292,000
$
553,000
$
FLUVANNA
458,000
$
286,500
750,000
$
526,000
5-24.99 Acres
$
25 + Acres
$
350,000
$
468,000
$
GREENE
$
515,000
$
LOUISA
242,500
$
1,325,000
$
$ $
240,000
303,150
$
645,000
$
MADISON
204,500
$
598,500
$
259,900
$
195,000
$
NELSON
337,500
592,000
ORANGE
265,000
$
207,500
$
515,000
$
497,500
$
234,000
560,000
LAND SALES 2016
ALBEMARLE
FLUVANNA
GREENE
LOUISA
MADISON
NELSON
ORANGE
0-4.99 Acres
66
58
21
51
3
26
5
5-24.99 Acres
43
11
6
11
6
22
5
25 + Acres
21
9
3
5
14
15
3
ALBEMARLE
FLUVANNA
GREENE
LOUISA
MADISON
NELSON
ORANGE
0-4.99 Acres
62
39
19
61
6
24
6
5-24.99 Acres
55
13
8
9
7
14
1
25 + Acres
20
4
2
9
8
13
4
ALBEMARLE
FLUVANNA
GREENE
LOUISA
MADISON
NELSON
ORANGE
2015
LAND MEDIAN PRICE 2016 0-4.99 Acres 5-24.99 Acres 25 + Acres 2015
145,000
$
16,000
$
375,000
$
$
$ $
ALBEMARLE
30,000
$
72,000
$
165,000
FLUVANNA
200,000
$
242,500
$
412,500
$
0-4.99 Acres
$
5-24.99 Acres
$
25 + Acres
$
$
22,500
$
93,750
$
333,000
$
GREENE
35,000
$
65,000
$
137,500
$
29,000
$
50,000
$
667,548
$
LOUISA
52,000
$
74,750
241,000
33,000
$
46,450
$
96,000
$
65,000
$
346,250
$
233,614
$
MADISON
85,500
$
$
66,000
$
$
86,000
$
NELSON
45,000
$
100,000
$
334,500
$
28,400 47,000
99,900
ORANGE
42,750
$
72,250
$
152,900
$
33,500
65,000
232,500
31
STAUNTON TOTAL SALES
TOTAL CLOSED VOLUME
150
$36M
146
140 130 120
148
126
$28M
100
$26M 2013
30,828,065
$30M
110
2012
2014
TRENDING
34,715,361
$32M
133 121
35,010,205
$34M
2015
2016
28,616,353 27,115,895 2012
2013
FLAT
2014 TRENDING
2015
2016
FLAT
MEDIAN PRICE $230,000
224,000
$220,000
210,660
$210,000
220,000
217,450
%
2016
Total Sales
146
1.37
148
217,450
3.01
120
-20.83
247,799
-2.16
$
239,796
-2.18
$
35,010,205
-0.84
$
Days on Market
$190,000
189,000 2012
Avg. List Price
$
Avg. Sale Price
$
Total Volume 2013
2014
TRENDING
32
2015
Median Price
$200,000
$180,000
STAUNTON
2015
2016
$
$
224,000 95
$
242,454 234,563
34,715,361
WAYNESBORO TOTAL SALES
TOTAL CLOSED VOLUME
150
$30M
148
140
$28M
130
133
131 120 110
27,114,468
$26M
26,807,478
$24M
122
119
29,502,353
28,464,612
$22M
21,990,462 $20M
100 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $220,000
214,000
$200,000
WAYNESBORO
2015
%
2016
122
9.02
133
188,950
13.26
97
-25.77
227,145
-0.22
$
219,733
0.95
$
26,807,478
10.05
Total Sales
188,950
$180,000
180,000 $160,000
170,000
Median Price
178,000
Days on Market
$140,000
Avg. List Price
$
Avg. Sale Price
$
Total Volume
$120,000 2012
2013
2014
$
2015
$
$
214,000 72
$
226,656 221,822
29,502,353
2016
TRENDING
33
FISHERSVILLE TOTAL SALES
TOTAL CLOSED VOLUME
110
$35M
106
100 90
90
$30M
27,046,217
$25M
93
90 $20M
80
75
70
21,487,359
22,877,715
22,326,779
17,963,893
$15M $10M
60 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $260,000
259,000
$250,000
FISHERSVILLE
2015
%
2016
90
-16.67
75
235,000
-5.11
111
-26.13
262,976
-6.36
$
254,197
-5.77
$
22,877,715
-21.48
Total Sales $240,000
Median Price
$220,000
Days on Market
235,000
234,900
$230,000
229,500
223,000 2013
2014
TRENDING
34
Avg. List Price
$
Avg. Sale Price
$
Total Volume
$210,000 2012
2015
$
2016
$
$
223,000 82
$
246,257 239,519
17,963,893
STUART’S DRAFT TOTAL SALES
TOTAL CLOSED VOLUME
160
$35M
158
150
160 $30M $25M
140
139
130
117 2012
27,278,539
25,327,319
$20M
126
120 110
31,873,238 29,855,495
19,954,218 $15M $10M
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $200,000
199,000
198,700 $190,000 $180,000
2015
%
2016
139
-9.35
126
189,900
4.79
99
-14.14
200,744
2.87
$
196,248
2.43
$
27,278,539
-7.15
Total Sales
189,900
187,500
STUART’S DRAFT
Median Price
$
Days on Market
$170,000
169,900 $160,000
Avg. List Price
$
Avg. Sale Price
$
Total Volume
$150,000 2012
2013
2014
2015
$
$
199,000 85
$
206,515 201,010
25,327,319
2016
TRENDING
35
ROCKINGHAM COUNTY TOTAL SALES
TOTAL CLOSED VOLUME
900
$200M
869
800 700
675
600 500
750
717
204,945,691
$180M $160M
160,462,931
$140M
563
$120M
168,507,040
145,703,555 120,262,257
$100M
400 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
2015
%
2016
750
15.87
869
195,000
5.64
115
0.00
231,051
5.29
$
224,676
4.97
$
168,507,040
21.62
TRENDING
MEDIAN PRICE $210,000
206,000
$200,000
ROCKINGHAM Total Sales
195,000
$190,000 $180,000
190,000 189,700
Median Price Days on Market
185,000
$170,000
2013
2014
TRENDING
36
Avg. List Price
$
Avg. Sale Price
$
Total Volume
$160,000 2012
$
2015
2016
$
$
206,000 115
$
243,283 235,841
204,945,691
HARRISONBURG TOTAL SALES
TOTAL CLOSED VOLUME
250
$60M
200
$50M
194
150 100
209
50,000,596
$40M
178
141
$30M
75
50
57,314,732
52,673,263 37,943,050
$20M
21,358,865
$10M
0 2012
2013
2014
2015
2016
2012
2013
TRENDING
2014
2015
2016
TRENDING
MEDIAN PRICE $270,000
265,450
$260,000 $250,000
HARRISONBURG
263,000
255,000
2014
TRENDING
178
-57.87
75
265,450
-0.92
110
36.36
285,037
3.92
$
280,902
1.38
$
50,000,596
-57.28
$
Avg. List Price
$
Avg. Sale Price
$
Total Volume
$220,000 2013
2016
Days on Market
$230,000
2012
%
Total Sales Median Price
247,000 246,750
$240,000
2015
2015
$
$
263,000 150
$
296,201
284,785
21,358,865
2016
FLAT
37
38
LIVE WHERE YOU LOVE 39
KEEPING YOU UP-TO-DATE ON THE MARKET’S ACTIVITY AND TRENDS.
LOOKING TO PUT YOUR HOME ON THE MARKET? Our approach to selling your home is simple, effective, and driven by market insights and strategic thinking. With a focus on marketing, condition, and price, we make sure your home achieves maximum exposure and wows potential buyers.
MARKETING We combine both traditional and cutting-edge
strategies and technology to make your home stand out from the crowd and get it sold.
CONDITION We work with you to organize and stage your home to enhance its curb appeal and showcase its full potential.
PRICING By understanding the market, your home, and working
collaboratively with fellow Nest brokers, we determine a price that helps achieve your home’s maximum value.
CONTACT your Nest broker today to learn more about listing your home with Nest. www.nestrealty.com