MAY 2016: Augusta County, Staunton & Waynesboro

April showers bring May flowersmore showers?” The sky was the only thing crying ALL last month. Check out May’s sunny residential sales activity below…05.16_SNAPSHOT05.16_INVENTORY05.16_SALES

W H A T ‘ S   H O T . . .

○ DEJA- VU –  Housing inventory is STILL historically low, yet the amount of closed transactions are increasing.

  • Year over Year: May 2016 Sales (141) is a 12% INCREASE from May 2015 sales (126)
  • Compared to last month: May 2016 Sales (141) is an 8% INCREASE from April 2016 Sales (130)

○  Average Sales Price INCREASE – Year over Year: May 2016 Average Sales Price ($197,020) is 22% higher than May 2015 ($161,452).

○ The $200,000 – $249,999 represented the majority of sales in May, being 27% of the sold inventory…Kicking out the ever faithful lower priced brackets for the first time this year.

○  Average Days on Market – 108 Days; This number doesn’t look very appetizing for a home owner/seller. Stale inventory sales are affecting this number dramatically. Let’s take a different perspective…

  • 40% of the closed transactions in May were on the markBlueRidgeMansions_6.28.16_edited-1et for 30 DAYS OR LESS
    • Of those 40% homes sold, over half of them (60%) sold at 100% of their List Price.
    • Of those 40% homes sold, a little less than half (46%) were on the market for 10 DAYS or LESS.

○  Join me at the newly renovated Wayne Theatre this Tuesday evening, June 28th at 7:00p, to enjoy an historical lecture titled, “Mansions of the Blue Ridge: Swannanoa and Royal Orchard“. I have been salivating at the mouth for months.

 

W H A T ‘ S   N O T . . .

○  Higher priced inventory – Homes priced above $400,000 are at a standstill in our neck of the woods. On a positive note, if you are a buyer looking in this price range, there some beautiful homes to be had with little “other buyer” competition.

○ Year-to-Date Sales – Slightly behind on Total Year-to-Date sales. May 2016 YTD sales (533), is a DECREASE of 1.1% from May 2015 YTD sales (539). (*With that said, the 12 month running total is a marginable INCREASE of 1.2% from last month.)

Tootles.

*This report was prepared by and for the use of Westhills Ltd. REALTORS. It is not to be copied in whole or in part without explicit permission of Katherine McNicholas.

**All data based on information from the Greater Augusta Association of REALTORS®, Inc. or Multiple Listing Service for the period 5.1.16 through 5.31.16. All information is believed to be accurate, but cannot be guaranteed.

2 thoughts on “MAY 2016: Augusta County, Staunton & Waynesboro

  1. Wonderful!!!!

    Richard Kane, CGP,CRS,GRI,SRES

    President-Broker

    Westhills Ltd., REALTORS

    1738 Jefferson Hwy

    Fishersville, VA 22939

    540-241-2579 (cell)

    540-943-9700 (office)

    540-942-4709 (fax)

    http://www.westhillshomes.com

    Certified Green Professional

    Certified Real Estate Specialist

    Graduate Realtors Institute

    Senior Real Estate Specialist

    Licensed in the Commonwealth of Virginia

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s