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2013 Real Estate Report for the New River Valley
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MARKET REPORT NEW RIVER VALLEY
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The 2013 Annual Nest Report, our look at the real estate market of the New River Valley of Virginia.
Transcript of 2013 Real Estate Report for the New River Valley
MARKET REPORT
NEW RIVER VALLEY
2013 was a year of modest growth and marked stability in the New River Valley real estate market. Low interest rates, strong consumer confidence and more positive economic indicators all contributed to a strong year for the New River Valley’s real estate market.
2013 closed out with positive trends across the board. Total sales were up. Median prices were up. Inventory dropped and days on market for sold properties were also down. With those four key indicators all trending in a positive direction in 2013, most signs point toward another active market in 2014. However, a rising interest rate environment and some changes to mortgage lending rules may serve as speed bumps towards the continued recovery of our local market. That being said, we believe the New River Valley market seems to have enough strength to handle those potential concerns in 2014.
At Nest, we continue to be fortunate to have the trust of a growing number of amazing clients. Our company has continued to grow; adding an office in Fredericksburg, Virginia and hiring talented individuals who share the Nest vision.
As always, we will continue to work hard to provide our clients with the highest level of service and most relevant information to help you make informed real estate decisions.
Thanks again for your trust in Nest.
Nest Realty: 2013 in Review
TOTAL CLOSINGS:
913
Named #882 in the annual
fastest-growing private American
companies list
TOTAL SALES$315,000,000
$275,000,000
$250,000,000
$225,000,000
$200,000,000
$175,000,000
$150,000,000
$125,000,000
$100,000,000
$75,000,000
$50,000,000
$25,000,000
2009 2010 2011 2012 2013
$28,085,866 $48,367,528
$80,779,303
$157,000,000
$315,000,000
ANNUAL TOTAL SALES VOLUME
Our agent ’s use of technology meant he was in regu lar
communication with us while we went about our l ives. We
recommend Nest Realty to everyone we know!
- Sean and Korine
TOTAL SALES
2012 20132009 20101,000
1,100
1,200
1,300
1,400
1,500
1,600
NEW RIVER VALLEY MSA
2011
1,461
1,592
1,428
1,256
1,402
TREND
MONTHS OF INVENTORY
2012 20132009 20108
9
10
1 1
12
13
14
2011
10.9010.05
10.54
12.9413.16
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012 % 2011
1,402
149,000
124
176,307
166,630
13.16
233,615,386
4.21%
4.03%
-3.23%
6.84%
7.06%
-17.17%
11.56%
1,461
155,000
120
188,370
178,387
10.90
260,623,455
SALES BY TYPE 2013
AREA ANALYSIS FOR NEW RIVER VALLEY AREA MSA
Single Family 1371
Condo 63
Attached 158
MEDIAN PRICE
2012 20132009 2010$135,000
$140,000
$145,000
$150,000
$155,000
$160,000
$165,000
2011
155,000
165,000
160,000
149,900 149,000
TREND
INVENTORY LEVELS
2012 20132009 20101,000
1,100
1,200
1,300
1,400
1,500
1,600
2011
1,327
1,5371,518 1,526
1,342
TREND
SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+
2011
0% 25% 50% 75% 100%
2012 23% 45% 20% 10% 2%
29% 41% 19% 9%
2013 %
8.97%
6.45%
-10.00%
5.79%
7.03%
-7.80%
16.62%
1,592
165,000
108
199,284
190,922
10.05
303,949,383
2013 21% 42% 21% 14% 2%
1%
TOTAL SALES
2012 20132009 2010200
225
250
275
300
325
350
BLACKSBURG IN TOWN
2011
258
328
256237
229
TREND
MONTHS OF INVENTORY
2012 20132009 20104
5
6
7
8
9
10
2011
6.57
5.30
8.48
10.53
8.41
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012 % 2011
229
215,730
115
246,979
236,542
8.41
54,168,194
12.66%
2.10%
-8.70%
-0.17%
0.82%
-21.88%
13.58%
258
220,250
105
246,561
238,470
6.57
61,525,305
SALES BY TYPE 2013
AREA ANALYSIS FOR BLACKSBURG IN TOWN
Single Family 205
Condo 52
Attached 71
MEDIAN PRICE
2012 20132009 2010$170,000
$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
2011
220,250229,975
218,000
223,000
215,730
TREND
INVENTORY LEVELS
2012 20132009 2010100
125
150
175
200
225
250
2011
141 145
219
250
161
TREND
SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+
2011
0% 25% 50% 75% 100%
2012 3% 39% 37% 20% 1%
6% 35% 38% 18%
2013 %
27.13%
4.42%
-20.00%
6.48%
6.80%
-19.33%
35.78%
328
229,975
84
262,539
254,696
5.30
83,540,528
2013 5% 33% 32% 26% 3%
2%
TOTAL SALES
2012 20132009 2010200
225
250
275
300
325
350
CHRISTIANSBURG IN TOWN
2011
271267
329
250
267
TREND
MONTHS OF INVENTORY
2012 20132009 20100
2
4
6
8
10
12
2011
6.51 6.95
9.27
11.50
8.97
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012 % 2011
267
160,000
114
176,090
170,032
8.97
45,398,609
1.50%
0.00%
-2.63%
2.91%
3.43%
-27.42%
4.98%
271
160,000
111
181,221
175,859
6.51
47,657,875
SALES BY TYPE 2013
AREA ANALYSIS FOR CHRISTIANSBURG IN TOWN
Single Family 211
Condo 6
Attached 50
MEDIAN PRICE
2012 20132009 2010$140,000
$145,000
$150,000
$155,000
$160,000
$165,000
$170,000
2011
160,000
169,000169,000
163,500160,000
TREND
INVENTORY LEVELS
2012 20132009 2010125
150
175
200
225
250
275
2011
147155
272277
200
TREND
SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+
2011
0% 25% 50% 75% 100%
2012 7% 65% 23% 6% 0%
10% 63% 24% 3%
2013 %
-1.48%
5.63%
-23.42%
1.60%
1.23%
6.76%
-0.26%
267
169,000
85
184,121
178,025
6.95
47,532,844
2013 11% 57% 27% 5% .5%
0%
MONTHS OF INVENTORY
2012 20132009 20104
5
6
7
8
9
10
2011
8.88
7.57
9.23
11.18
7.48
TREND
TOTAL SALES
2012 20132009 20100
50
100
150
200
250
300
2011
234
283
129 135
186
TREND
MEDIAN PRICE
2012 20132009 2010$180,000
$190,000
$200,000
$220,000
$230,000
$240,000
$250,000
2011
199,450 200,000
225,000209,500
246,500
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
234
199,450
115
240,074
230,273
8.88
53,883,875
2013 %
20.94%
0.28%
-20.87%
1.96%
2.63%
-14.75%
24.13%
283
200,000
91
244,774
236,339
7.57
66,884,181
Montgomery
MONTGOMERY
MONTHS OF INVENTORY
2012 20132009 20105
6
7
8
9
10
11
2011
9.22
6.17
8.80
11.74
9.90
TREND
TOTAL SALES
2012 20132009 201080
85
90
95
100
105
110
2011
99
107
101
91
99
TREND
MEDIAN PRICE
2012 20132009 2010$105,000
$110,000
$115,000
$120,000
$125,000
$130,000
$135,000
2011
129,000
125,000
133,000
129,000
124,000
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
99
129,000
134
150,161
141,234
9.22
13,982,181
2013 %
8.08%
-3.10%
-35.82%
-3.79%
-2.97%
-33.08%
4.87%
107
125,000
86
144,463
137,035
6.17
14,662,795
Radford
RADFORD
FLAT
MONTHS OF INVENTORY
2012 20132009 20108
10
12
14
16
18
20
2011
19.9218.29
12.84
14.73
18.74
TREND
TOTAL SALES
2012 20132009 201030
40
50
60
70
80
90
2011
75
82
57
6762
TREND
MEDIAN PRICE
2012 20132009 2010$120,000
$125,000
$130,000
$135,000
$140,000
$145,000
$150,000
2011
144,900
150,000
141,000139,000
147,500
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
75
144,900
133
173,931
158,402
19.92
56,292,965
2013 %
9.33%
3.52%
30.08%
2.76%
5.85%
-8.18%
15.54%
82
150,000
173
178,734
167,664
18.29
65,038,265
Floyd
FLOYD
MONTHS OF INVENTORY
2012 20132009 20109
10
11
12
13
14
15
2011
11.96
10.80
11.39
15.74
11.79
TREND
TOTAL SALES
2012 20132009 201080
90
100
110
120
130
140
2011
104
133
118
96
108
TREND
MEDIAN PRICE
2012 20132009 2010$90,000
$95,000
$100,000
$105,000
$110,000
$115,000
$120,000
2011
117,200120,000
98,950
93,500
108,500
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
104
117,200
117
137,954
$130,217
11.96
13,542,554
2013 %
27.88%
2.39%
9.40%
9.26%
10.32%
-9.70%
41.08%
133
120,000
128
150,726
143,652
10.80
19,105,799
Giles
GILES
MONTHS OF INVENTORY
2012 20132009 20107
8
9
10
11
12
13
2011
8.96
11.2211.06
13.54
10.97
TREND
TOTAL SALES
2012 20132009 2010170
180
190
200
210
220
230
2011
226
218220
175182
TREND
MEDIAN PRICE
2012 20132009 2010$95,000
$100,000
$105,000
$110,000
$115,000
$120,000
$125,000
2011
111,950
124,000
110,000
115,000
100,000
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
226
111,950
109
129,531
122,603
8.96
27,708,246
2013 %
-3.54%
10.76%
-4.59%
12.39%
12.83%
25.22%
8.84%
218
124,000
104
145,585
138,337
11.22
30,157,000
Pulaski
PULASKI
A SAMPLING OF OUR 2013 SOLD PROPERTIES
2001 Birchleaf Lane $253,000 250 South Main Street #207 $158,000 402 Landsdowne Street $245,000
589 Hale Street $278,000 810 Sunrise Drive $485,000
819 North Village Way $380,000 1210 Draper Road $455,000 1225 Village Way South $360,000
1610 Boxwood Drive $380,000 2302 Capistrano Street $216,000 740 Oak Tree Boulevard $158,000
814 North Village Way $277,000
LIVE WHERE YOU LOVE
800-325-6378 (NEST)
www.NestRealty.com
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