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Q2 2014 New River Valley Market Report
NEW RIVER VALLEY MSA MARKET ANALYSIS
Second Quarter 2014
Market Snapshot
-17% $169,000
TOTAL SALES
There were 435 total sales this
past quarter compared to 527 in
Q2 2013. This translates to a 17%
drop on a year-over-year basis.
MEDIAN SALES PRICE
The median sales price this past
quarter was $169,000 compared
to $179,900 in Q2 2013.
TOTAL INVENTORY
At the end of this past quarter,
total inventory levels were up 3%
compared to the end of
Q2 2013.
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q2
0
100
200
300
400
500
600
440
300
450450
428
476465
250
427
305
334
262
435
236
527
412
321
271
251
313311
Five Year Sales Trend (Total Sales)
109
DAYS ON MARKET
Homes sold this quarter spent an
average of 109 days on market
before being sold.
8%
CONTRACTS WRITTEN
There were a total of 526 con-
tracts written this past quarter
compared to 488 in Q2 2013. This
translates to a 8% year-over-year ..
MONTHS OF INVENTORY
At the end of this past quarter,
there were 9 months of
inventory available.
06/2013 07/2013 08/2013 09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014
120K
140K
160K
180K
200K
220K
188,144
190,295
180,318
191,057
153,488155,397
215,031
195,019
197,399
170,696
200,599 207,052
165,947
195,000
161,500
156,000164,100
165,500
130,000
150,000
168,500168,875
183,575
144,001
141,950
140,000
Average & Median Price Trends AVG. SALES PRICE MEDIAN SALES PRICE
06/2013 07/2013 08/2013 09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014
183,575
207,052
168,500
195,019
150,000
180,318
144,001
153,488
141,950
165,947
130,000
155,397
156,000
190,295
140,000
170,696
165,500
191,057
164,100
188,144
168,875
200,599
161,500
197,399
195,000
215,031Average
Median
3%
9
NEW RIVER VALLEY MSA MARKET ANALYSIS
Second Quarter 2014
Quarterly Performance & Yearly Growth
TOTAL
SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE
AVG.
$/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 111105179,000201,758209,181364
% Change 10.16%1.14%-4.28%-2.18%-2.57%-20.35%
2013 Q2 101104187,000206,253214,697457
% Change -18.74%5.45%17.43%11.97%9.89%20.90%
2012 Q2 12498159,250184,203195,372378
CONTRACTS
WRITTEN
457
9.33%
418
9.14%
383
SINGLEFAMILYATTACHED
TOTAL
SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE
AVG.
$/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 83106164,000171,894177,69451
% Change 12.54%-6.54%-4.93%-1.89%-1.72%8.51%
2013 Q2 74114172,500175,198180,80947
% Change -28.09%1.91%4.55%-1.51%-1.99%-11.32%
2012 Q2 103112165,000177,881184,47453
CONTRACTS
WRITTEN
51
10.87%
46
-17.86%
56
TOTAL
SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE
AVG.
$/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 127128121,900138,125142,03820
% Change -7.02%-13.42%2.44%-3.91%-5.34%-13.04%
2013 Q2 74114172,500175,198180,80947
% Change 7.74%10.81%-15.00%-16.32%-12.27%21.05%
2012 Q2 126133140,000171,771171,03219
CONDO
CONTRACTS
WRITTEN
18
-25.00%
24
9.09%
22
2012 2013 2014
680609 622
80 78
83
3932 31
Year-to-Date Sales by Property Type
Detached Townhome/Twin Condo
NEW RIVER VALLEY MSA MARKET ANALYSIS
Second Quarter 2014
June 2014
INVENTORY
MONTHS OF
INVENTORY
May 2014
INVENTORY
MONTHS OF
INVENTORY
June 2013
INVENTORY
MONTHS OF
INVENTORY
Single Family
Attached
Condo
All 19.7
5.13
5.29
9.28
1,497
41
111
1,345
42.23
24.67
7.47
10.09
1,498
74
112
1,312
20.22
6.14
5.76
8.32
1,447
43
98
1,306
Inventory Levels & Months of Inventory
January February March April May June July August September October November December
1000
1200
1400
1600
1800
2000
Four Year Inventory History 2011 2012 2013 2014
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 Inventory
New Listings
2012 Inventory
New Listings
2013 Inventory
New Listings
2014 Inventory
New Listings
138
1,318
174
1,415
203
1,507
192
1,620
277
1,693
254
1,680
303
1,745
370
1,708
385
1,611
385
1,478
287
1,354
221
1,318
145
1,175
155
1,255
202
1,297
182
1,355
219
1,397
231
1,424
240
1,472
294
1,427
362
1,388
328
1,297
272
1,233
245
1,205
122
1,246
160
1,348
191
1,408
261
1,445
266
1,457
258
1,467
310
1,447
332
1,372
365
1,319
358
1,251
254
1,185
238
1,120
304
1,492
357
1,496
362
1,423
339
1,297
243
1,212
264
1,159
3 KEY TAKEAWAYS
1. After the strongest first quarter performance in the past five years, Q2 total sales this past quarter
were the lowest they'e been since 2011.
2. In addition to the substantial year-over-year decrease in total sales, the drop in median prices signals
that home values may be depreciating which discourges both buyers and sellers from entering
the marketplace.
3. The 8% year-over-year increase in contracts written this past quarter is a positive sign that the market
can bounce back in the third quarter this year, despite a tough second quarter.
TOWN OF BLACKSBURG MARKET ANALYSIS
Second Quarter 2014
Market Snapshot
-31% $237,000
59 -9%
TOTAL SALES
There were 84 totals sales this past
quarter compared to 121 total sales
in Q2 2013. This translates to a 31%
drop on a year-over-year basis.
MEDIAN SALES PRICE
The median sales price was
$237,000 this past quarter com-
pared to $230,000 in Q2 2013.
TOTAL INVENTORY
At the end of this past quarter,
inventory levels were 4% higher
than inventory levels at the end of
Q2 2013.
DAYS ON MARKET
Homes sold this past quarter spent
an average of 59 days on market
before being sold.
CONTRACTS WRITTEN
95 total contracts were written this
past quarter compared to 104 writ-
ten in Q2 2013. This translates to a
9% drop on a year-over-year basis.
MONTHS OF INVENTORY
At the end of this past quarter,
there were 4 months of inventory
available for sale.
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q2
0
20
40
60
80
100
120
140
103
90 90
84
64
86
50
34
74
47 47 47
43
54
82
63
79
56
121
52
35
Five Year Sales Trend (Total Sales)
0% 25% 50% 75% 100%
2014
Q2
2014
Q1
2013
Q4
2013
Q3
2013
Q2
20%30%
30% 42%
28%
26%
38%
39%
23%
37%
53%
14%14%
12%
21%
17%
15%
4%
4%
6%
2%
2%
2%
3%
5%
5%
5%
1%
Sales by Price Range
0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+
4%
4
TOWN OF BLACKSBURG MARKET ANALYSIS
Second Quarter 2014
Quarterly Performance & Yearly Growth
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 39132267,500291,801297,41352
% Change -20.38%2.17%0.38%1.22%0.96%-35.00%
2013 Q2 49130266,500288,294294,59880
% Change -48.37%0.96%10.58%6.32%5.64%40.35%
2012 Q2 95128241,000271,156278,87457
CONTRACTS
WRITTEN
61
1.67%
60
25.00%
48
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 47124175,000186,247189,65315
% Change -46.82%-0.47%-7.89%-8.41%-9.56%-31.82%
2013 Q2 88125190,000203,359209,69322
% Change -24.34%-3.75%-0.52%-7.23%-7.78%15.79%
2012 Q2 116130191,000219,216227,38919
CONTRACTS
WRITTEN
18
-33.33%
27
58.82%
17
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 130127121,000126,794129,99717
% Change 0.29%-16.68%2.54%-3.62%-5.46%-10.53%
2013 Q2 129152118,000131,561137,50019
% Change 95.77%13.11%-13.39%-11.31%-10.28%35.71%
2012 Q2 66134136,250148,343153,25714
CONTRACTS
WRITTEN
16
-5.88%
17
0.00%
17
2012 2013 2014
86
24
70
26
38
32
27 25
111
Year-to-Date Sales by Property Type
Condo Detached Townhome/Twin
SINGLEFAMILYATTACHEDCONDO
TOWN OF BLACKSBURG MARKET ANALYSIS
Second Quarter 2014
3 KEY TAKEAWAYS
1. The low average days on market and limited months of inventory, the Town of Blacksburg
marketplace heavily favors sellers.
2. While total sales decreased signficantly this past quarter, the fact that median sales prices rose
slightly is another positive sign for sellers.
3. Given that the number of contracts written this past quarter was down signficantly on a year-over-
year basis, the market may lower sales levels in the third quarter this year.
June 2014
TOTAL
INVENTORY
MONTHS OF
INVENTORY
May 2014
TOTAL
INVENTORY
MONTHS OF
INVENTORY
June 2013
TOTAL
INVENTORY
MONTHS OF
INVENTORY
Detached
Attached
Condo
All 12.4
4.4
4.6
3.5
148
31
41
76
35.7
21.0
10.5
4.2
181
63
42
76
12.3
7.0
2.8
2.6
142
35
25
82
Inventory Levels & Months of Inventory
January February March April May June July August September October November December
100
120
140
160
180
200
220
Four Year Inventory History 2011 2012 2013 2014
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 Inventory
New Listings
2012 Inventory
New Listings
2013 Inventory
New Listings
2014 Inventory
New Listings
11
122
19
137
23
136
19
150
26
157
26
166
31
183
46
202
59
201
56
173
37
156
39
143
28
145
21
134
27
138
12
145
26
149
31
155
33
158
29
152
50
161
67
127
43
120
36
112
19
123
14
130
21
145
62
149
31
130
28
131
31
142
30
149
49
159
71
179
48
158
39
135
37
148
45
181
44
176
58
169
48
143
39
115
TOWN OF CHRISTIANSBURG MARKET ANALYSIS
Second Quarter 2014
Market Snapshot
TOTAL SALES
There were 91 total sales this past
quarter compared to 92 total sales
in Q2 2013. This translates to a 1%
year-over-year decrease.
MEDIAN PRICE
The median sales price this past
quarter was $166,000 compared
to $175,625 in Q2 2013.
-1% $166,000 18%
TOTAL INVENTORY
At the end of this past quarter,
inventory levels were 18% higher
than at the end of Q2 2013.
94
DAYS ON MARKET
Homes sold this past quarter spent
an average of 94 days on market
before being sold.
CONTRACTS WRITTEN
There were 91 contracts written
this past quarter compared to 78 in
Q2 2013. This translates to a 21%
year-over-year increase.
MONTHS OF INVENTORY
At the end of this past quarter,
there was a total of 8 months of
inventory available on the market
in the Town of Christiansburg.
21% 8
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q2
0
25
50
75
100
125
150
44
90
64
48
64
89
47 47
118
54
45
92
78
93
112
85
37
75
55 55
91
Five Year Sales Trend (Total Sales)
0% 25% 50% 75% 100%
2014
Q2
2014
Q1
2013
Q4
2013
Q3
2013
Q2
60%
48%
64% 20%
26%
56%
65% 23%
27%
33%12%
13%
4%
4%
8%
6%
11% 2%
3%
7%
1%
1%
1%
1%
Sales by Price Range
0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+
TOWN OF CHRISTIANSBURG MARKET ANALYSIS
Second Quarter 2014
Quarterly Performance & Yearly Growth
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 8999185,000191,956195,07565
% Change 9.38%-4.73%2.78%1.45%0.04%-13.33%
2013 Q2 81104180,000189,205195,00375
% Change -24.38%6.39%4.65%0.06%-0.44%36.36%
2012 Q2 10798172,000189,091195,86555
CONTRACTS
WRITTEN
76
18.75%
64
-3.03%
66
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 10793138,000143,454148,64024
% Change 92.04%-6.33%5.54%3.13%3.51%71.43%
2013 Q2 5699130,750139,100143,60014
% Change -29.47%2.64%-3.51%-3.95%-3.06%-46.15%
2012 Q2 7997135,500144,815148,13326
CONTRACTS
WRITTEN
18
80.00%
10
-65.52%
29
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 102150241,500241,500250,4502
% Change -53.44%8.24%5.46%3.28%3.09%-33.33%
2013 Q2 218139229,000233,833242,9333
% Change -39.36%1.77%-16.58%-15.88%-5.11%-25.00%
2012 Q2 360136274,500277,963256,0054
CONTRACTS
WRITTEN
30
0.00%
4
n/a
0.00%
4
2012 2013 2014
107
89
25
35 41
111
4
6
3
Year-to-Date Sales by Property Type
Attached Condo Detached
SINGLEFAMILYATTACHEDCONDO
TOWN OF CHRISTIANSBURG MARKET ANALYSIS
Second Quarter 2014
June 2014
TOTAL
INVENTORY
MONTHS OF
INVENTORY
May 2014
TOTAL
INVENTORY
MONTHS OF
INVENTORY
June 2013
TOTAL
INVENTORY
MONTHS OF
INVENTORY
Detached
Attached
Condo
All 15.72
7.57
8.15
219
3
53
163
12.98
6.75
6.23
219
3
54
162
21.35
1.5
14.33
5.52
184
3
43
138
Year-to-Date Sales by Property Type
January February March April May June July August September October November December
0
50
100
150
200
250
Four Year Inventory History 2011 2012 2013 2014
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 Inventory
New Listings
2012 Inventory
New Listings
2013 Inventory
New Listings
2014 Inventory
New Listings
15
151
24
161
34
173
31
193
33
202
40
212
42
227
50
243
55
228
61
215
46
204
50
185
24
117
26
130
26
140
33
142
28
139
27
155
22
173
52
179
69
161
40
153
47
152
30
134
19
155
27
174
33
181
39
180
55
183
42
185
54
184
57
165
75
155
47
132
44
126
46
111
46
218
53
219
71
207
58
178
38
167
54
155
3 KEY TAKEAWAYS
1. With total sales remaining flat, median prices increasing for each property type, and 8 months of
inventory available, the Christiansburg market is fairly stable.
2. The significant increase in inventory levels, which are as high as they've been since 2011, is due in part to
the increase in the average days on market as well as seller confidence in the market.
3. The strong year-over-year increase in the number of contracts written is also a positive signal that the
market will maintain momentum moving in the third quarter this year.
RADFORD CITY MARKET ANALYSIS
Second Quarter 2014
TOTAL SALES
There were 38 total sales this past
quarter compared to 31 in Q2 2013.
This translates to a 23% increase
on a year-over-year basis.
MEDIAN SALES PRICE
The median sales price this past
quarter was $151,000 compared to
$119,000 in Q2 2013.
Quarterly Performance & Yearly Growth
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q2
0
10
20
30
40
50
20 20
34
28
38
27
32
27
33
35
41
18 18 18
16
19
21
31 31
15
11
Five Year Sales Trend (Total Sales)
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 7994151,000159,272165,73538
% Change 14.18%16.54%26.89%32.85%33.12%22.58%
2013 Q2 6981119,000119,885124,49831
% Change -37.83%-11.97%2.59%-11.40%-13.21%14.81%
2012 Q2 11192116,000135,313143,44627
CONTRACTS
WRITTEN
46
31.43%
35
2.94%
34
TOTAL INVENTORY
At the end of this past quarter,
total inventory levels were up
183% compared to the end of
Q2 2013.
CONTRACTS WRITTEN
There were a total of 46 contracts
written this past quarter compared
to 35 in Q2 2013. This translates to
a 31% year-over-year increase.
DAYS ON MARKET
Homes sold this quarter spent an
average of 79 days on market
before being sold.
MONTHS OF INVENTORY
At the end of this past quarter,
there were 14 months of
inventory available.
23% $151,000 183%
79 31% 14
Market Snapshot
MONTGOMERY COUNTY MARKET ANALYSIS
Second Quarter 2014
TOTAL SALES
There were 61 total sales this past
quarter compared to 109 in Q2
2013. This translates to a 44% drop
on a year-over-year basis.
-44% $240,000 -7%
83 -2% 7
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q2
0
20
40
60
80
100
120
109
48
64
46
68
34
47 47
43 43 43
36
67
59
22
27
23
52
35
81
61
Five Year Sales Trend (Total Sales)
MEDIAN SALES PRICE
The median sales price this past
quarter was $240,000 compared
to $218,000 in Q2 2013.
Quarterly Performance & Yearly Growth
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 83120240,000284,218293,09661
% Change 12.24%5.59%10.09%12.80%12.38%-44.04%
2013 Q2 74114218,000251,958260,804109
% Change -45.66%0.36%-2.44%-1.37%-2.36%60.29%
2012 Q2 137113223,450255,446267,10168
CONTRACTS
WRITTEN
87
-2.25%
89
17.11%
76
TOTAL INVENTORY
At the end of this past quarter,
total inventory levels were down
7% compared to the end of
Q2 2013.
DAYS ON MARKET
Homes sold this quarter spent an
average of 83 days on market
before being sold.
CONTRACTS WRITTEN
There were a total of 87 contracts
written this past quarter compared
to 89 in Q2 2013. This translates to
a 2% year-over-year drop.
MONTHS OF INVENTORY
At the end of this past quarter,
there were 7 months of
inventory available.
Market Snapshot
FLOYD COUNTY MARKET ANALYSIS
Second Quarter 2014
TOTAL SALES
There were 25 total sales this past
quarter compared to 26 in Q2
2013. This translates to a 4% drop
on a year-over-year basis.
MEDIAN SALES PRICE
The median sales price this past
quarter was $150,000 compared
to $153,050 in Q2 2013.
Quarterly Performance & Yearly Growth
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q2
0
10
20
30
40
50
20 20 20
24
26
2223 23
2525
10
14
18
12
21
17 17
13
9
11 11
Five Year Sales Trend (Total Sales)
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 148116150,000157,396170,98825
% Change 20.33%16.15%-1.99%-4.22%0.28%-3.85%
2013 Q2 123100153,050164,329170,51426
% Change -18.37%4.84%28.83%9.64%-0.57%13.04%
2012 Q2 15196118,800149,874171,48723
CONTRACTS
WRITTEN
27
0.00%
27
42.11%
19
TOTAL INVENTORY
At the end of this past quarter,
total inventory levels were down
2% compared to the end of Q2
2013.
DAYS ON MARKET
Homes sold this quarter spent an
average of 148 days on market
before being sold.
CONTRACTS WRITTEN
There were a total of 27 contracts
written this past quarter compared
to 27 in Q2 2013. This translates to
a 0% year-over-year change.
MONTHS OF INVENTORY
At the end of this past quarter,
there were 26 months of
inventory available.
-4% $150,000 -2%
148 0% 26
Market Snapshot
GILES COUNTY MARKET ANALYSIS
Second Quarter 2014
Market Snapshot
-38% $114,950
264 8%
-7%
10
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q20
10
20
30
40
50
40
20
24
30
42
34
28 28
26
22
32
23
33
35 35
16
19 19
21
3131
Five Year Sales Trend (Total Sales)
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 26478114,950133,545140,03426
Quarterly Performance & Yearly Growth
% Change 72.14%-5.52%-16.37%-14.30%-14.89%-38.10%
2013 Q2 15383137,450155,821164,53842
% Change 5.22%2.51%27.27%11.11%11.77%35.48%
2012 Q2 14681108,000140,242147,20931
CONTRACTS
WRITTEN
41
7.89%
38
31.03%
29
TOTAL SALES
There were 26 total sales this past
quarter compared to 42 total sales
in Q2 2013. This translates to a 38%
year-over-year drop.
MEDIAN SALES PRICE
The median home price was
$114,950 this past quarter
compared to a median price of
$137,450 in Q2 2013.
DAYS ON MARKET
Homes sold this quarter spent an
average of 264 days on market
before being sold.
TOTAL INVENTORY
At the end of this past quarter,
total inventory levels were down
7% compared to the end of
Q2 2013.
CONTRACTS WRITTEN
There were a total of 41 contracts
written this past quarter compared
to 38 in Q2 2013. This translates to
a 8% year-over-year increase.
MONTHS OF INVENTORY
At the end of this past quarter,
there were 10 months of
inventory available.
PULASKI COUNTY MARKET ANALYSIS
Second Quarter 2014
30%
Market Snapshot
$139,200
124 16%
7%
11
'09Q2
'09Q3
'09Q4
'10Q1
'10Q2
'10Q3
'10Q4
'11Q1
'11Q2
'11Q3
'11Q4
'12Q1
'12Q2
'12Q3
'12Q4
'13Q1
'13Q2
'13Q3
'13Q4
'14Q1
'14Q20
20
40
60
80
100
60
4849 49
68
70
47
54 5454 54
83
52 52 52
33
53
41 41
31
71
Five Year Sales Trend (Total Sales)
Quarterly Performance & Yearly Growth
TOTAL SALES
AVG. LIST
PRICE
AVG. SALES
PRICE
MEDIAN
SALES PRICE AVG. $/SQ.FT.
AVG. DAYS
ON MARKET
2014 Q2 12488139,200159,226165,90570
% Change 19.12%10.92%5.45%10.40%8.47%29.63%
2013 Q2 10479132,011144,230152,95454
% Change 13.74%2.75%11.87%18.79%18.53%-20.59%
2012 Q2 9277118,000121,415129,03868
CONTRACTS
WRITTEN
80
69
15.94%
1.47%
68
TOTAL SALES
There were 70 total sales this past
quarter compared to 54 total sales
in Q2 2013. This translates to a
30% year-over-year increase.
MEDIAN SALES PRICE
The median home price was
$139,200 this past quarter
compared to a median price of
$132,011 in Q2 2013.
TOTAL INVENTORY
At the end of this past quarter,
total inventory levels were up 7%
compared to the end of Q2 2013.
DAYS ON MARKET
Homes sold this quarter spent an
average of 124 days on market
before being sold.
CONTRACTS WRITTEN
There were a total of 80 contracts
written this past quarter compared
to 69 in Q2 2013. This translates to
a 16% year-over-year increase.
MONTHS OF INVENTORY
At the end of this past quarter,
there were 11 months of
inventory available.

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2014 Q2 New River Valley Real Estate Market

  • 1. Q2 2014 New River Valley Market Report
  • 2. NEW RIVER VALLEY MSA MARKET ANALYSIS Second Quarter 2014 Market Snapshot -17% $169,000 TOTAL SALES There were 435 total sales this past quarter compared to 527 in Q2 2013. This translates to a 17% drop on a year-over-year basis. MEDIAN SALES PRICE The median sales price this past quarter was $169,000 compared to $179,900 in Q2 2013. TOTAL INVENTORY At the end of this past quarter, total inventory levels were up 3% compared to the end of Q2 2013. '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q2 0 100 200 300 400 500 600 440 300 450450 428 476465 250 427 305 334 262 435 236 527 412 321 271 251 313311 Five Year Sales Trend (Total Sales) 109 DAYS ON MARKET Homes sold this quarter spent an average of 109 days on market before being sold. 8% CONTRACTS WRITTEN There were a total of 526 con- tracts written this past quarter compared to 488 in Q2 2013. This translates to a 8% year-over-year .. MONTHS OF INVENTORY At the end of this past quarter, there were 9 months of inventory available. 06/2013 07/2013 08/2013 09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014 120K 140K 160K 180K 200K 220K 188,144 190,295 180,318 191,057 153,488155,397 215,031 195,019 197,399 170,696 200,599 207,052 165,947 195,000 161,500 156,000164,100 165,500 130,000 150,000 168,500168,875 183,575 144,001 141,950 140,000 Average & Median Price Trends AVG. SALES PRICE MEDIAN SALES PRICE 06/2013 07/2013 08/2013 09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014 183,575 207,052 168,500 195,019 150,000 180,318 144,001 153,488 141,950 165,947 130,000 155,397 156,000 190,295 140,000 170,696 165,500 191,057 164,100 188,144 168,875 200,599 161,500 197,399 195,000 215,031Average Median 3% 9
  • 3. NEW RIVER VALLEY MSA MARKET ANALYSIS Second Quarter 2014 Quarterly Performance & Yearly Growth TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 111105179,000201,758209,181364 % Change 10.16%1.14%-4.28%-2.18%-2.57%-20.35% 2013 Q2 101104187,000206,253214,697457 % Change -18.74%5.45%17.43%11.97%9.89%20.90% 2012 Q2 12498159,250184,203195,372378 CONTRACTS WRITTEN 457 9.33% 418 9.14% 383 SINGLEFAMILYATTACHED TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 83106164,000171,894177,69451 % Change 12.54%-6.54%-4.93%-1.89%-1.72%8.51% 2013 Q2 74114172,500175,198180,80947 % Change -28.09%1.91%4.55%-1.51%-1.99%-11.32% 2012 Q2 103112165,000177,881184,47453 CONTRACTS WRITTEN 51 10.87% 46 -17.86% 56 TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 127128121,900138,125142,03820 % Change -7.02%-13.42%2.44%-3.91%-5.34%-13.04% 2013 Q2 74114172,500175,198180,80947 % Change 7.74%10.81%-15.00%-16.32%-12.27%21.05% 2012 Q2 126133140,000171,771171,03219 CONDO CONTRACTS WRITTEN 18 -25.00% 24 9.09% 22 2012 2013 2014 680609 622 80 78 83 3932 31 Year-to-Date Sales by Property Type Detached Townhome/Twin Condo
  • 4. NEW RIVER VALLEY MSA MARKET ANALYSIS Second Quarter 2014 June 2014 INVENTORY MONTHS OF INVENTORY May 2014 INVENTORY MONTHS OF INVENTORY June 2013 INVENTORY MONTHS OF INVENTORY Single Family Attached Condo All 19.7 5.13 5.29 9.28 1,497 41 111 1,345 42.23 24.67 7.47 10.09 1,498 74 112 1,312 20.22 6.14 5.76 8.32 1,447 43 98 1,306 Inventory Levels & Months of Inventory January February March April May June July August September October November December 1000 1200 1400 1600 1800 2000 Four Year Inventory History 2011 2012 2013 2014 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2011 Inventory New Listings 2012 Inventory New Listings 2013 Inventory New Listings 2014 Inventory New Listings 138 1,318 174 1,415 203 1,507 192 1,620 277 1,693 254 1,680 303 1,745 370 1,708 385 1,611 385 1,478 287 1,354 221 1,318 145 1,175 155 1,255 202 1,297 182 1,355 219 1,397 231 1,424 240 1,472 294 1,427 362 1,388 328 1,297 272 1,233 245 1,205 122 1,246 160 1,348 191 1,408 261 1,445 266 1,457 258 1,467 310 1,447 332 1,372 365 1,319 358 1,251 254 1,185 238 1,120 304 1,492 357 1,496 362 1,423 339 1,297 243 1,212 264 1,159 3 KEY TAKEAWAYS 1. After the strongest first quarter performance in the past five years, Q2 total sales this past quarter were the lowest they'e been since 2011. 2. In addition to the substantial year-over-year decrease in total sales, the drop in median prices signals that home values may be depreciating which discourges both buyers and sellers from entering the marketplace. 3. The 8% year-over-year increase in contracts written this past quarter is a positive sign that the market can bounce back in the third quarter this year, despite a tough second quarter.
  • 5. TOWN OF BLACKSBURG MARKET ANALYSIS Second Quarter 2014 Market Snapshot -31% $237,000 59 -9% TOTAL SALES There were 84 totals sales this past quarter compared to 121 total sales in Q2 2013. This translates to a 31% drop on a year-over-year basis. MEDIAN SALES PRICE The median sales price was $237,000 this past quarter com- pared to $230,000 in Q2 2013. TOTAL INVENTORY At the end of this past quarter, inventory levels were 4% higher than inventory levels at the end of Q2 2013. DAYS ON MARKET Homes sold this past quarter spent an average of 59 days on market before being sold. CONTRACTS WRITTEN 95 total contracts were written this past quarter compared to 104 writ- ten in Q2 2013. This translates to a 9% drop on a year-over-year basis. MONTHS OF INVENTORY At the end of this past quarter, there were 4 months of inventory available for sale. '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q2 0 20 40 60 80 100 120 140 103 90 90 84 64 86 50 34 74 47 47 47 43 54 82 63 79 56 121 52 35 Five Year Sales Trend (Total Sales) 0% 25% 50% 75% 100% 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 20%30% 30% 42% 28% 26% 38% 39% 23% 37% 53% 14%14% 12% 21% 17% 15% 4% 4% 6% 2% 2% 2% 3% 5% 5% 5% 1% Sales by Price Range 0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+ 4% 4
  • 6. TOWN OF BLACKSBURG MARKET ANALYSIS Second Quarter 2014 Quarterly Performance & Yearly Growth TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 39132267,500291,801297,41352 % Change -20.38%2.17%0.38%1.22%0.96%-35.00% 2013 Q2 49130266,500288,294294,59880 % Change -48.37%0.96%10.58%6.32%5.64%40.35% 2012 Q2 95128241,000271,156278,87457 CONTRACTS WRITTEN 61 1.67% 60 25.00% 48 TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 47124175,000186,247189,65315 % Change -46.82%-0.47%-7.89%-8.41%-9.56%-31.82% 2013 Q2 88125190,000203,359209,69322 % Change -24.34%-3.75%-0.52%-7.23%-7.78%15.79% 2012 Q2 116130191,000219,216227,38919 CONTRACTS WRITTEN 18 -33.33% 27 58.82% 17 TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 130127121,000126,794129,99717 % Change 0.29%-16.68%2.54%-3.62%-5.46%-10.53% 2013 Q2 129152118,000131,561137,50019 % Change 95.77%13.11%-13.39%-11.31%-10.28%35.71% 2012 Q2 66134136,250148,343153,25714 CONTRACTS WRITTEN 16 -5.88% 17 0.00% 17 2012 2013 2014 86 24 70 26 38 32 27 25 111 Year-to-Date Sales by Property Type Condo Detached Townhome/Twin SINGLEFAMILYATTACHEDCONDO
  • 7. TOWN OF BLACKSBURG MARKET ANALYSIS Second Quarter 2014 3 KEY TAKEAWAYS 1. The low average days on market and limited months of inventory, the Town of Blacksburg marketplace heavily favors sellers. 2. While total sales decreased signficantly this past quarter, the fact that median sales prices rose slightly is another positive sign for sellers. 3. Given that the number of contracts written this past quarter was down signficantly on a year-over- year basis, the market may lower sales levels in the third quarter this year. June 2014 TOTAL INVENTORY MONTHS OF INVENTORY May 2014 TOTAL INVENTORY MONTHS OF INVENTORY June 2013 TOTAL INVENTORY MONTHS OF INVENTORY Detached Attached Condo All 12.4 4.4 4.6 3.5 148 31 41 76 35.7 21.0 10.5 4.2 181 63 42 76 12.3 7.0 2.8 2.6 142 35 25 82 Inventory Levels & Months of Inventory January February March April May June July August September October November December 100 120 140 160 180 200 220 Four Year Inventory History 2011 2012 2013 2014 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2011 Inventory New Listings 2012 Inventory New Listings 2013 Inventory New Listings 2014 Inventory New Listings 11 122 19 137 23 136 19 150 26 157 26 166 31 183 46 202 59 201 56 173 37 156 39 143 28 145 21 134 27 138 12 145 26 149 31 155 33 158 29 152 50 161 67 127 43 120 36 112 19 123 14 130 21 145 62 149 31 130 28 131 31 142 30 149 49 159 71 179 48 158 39 135 37 148 45 181 44 176 58 169 48 143 39 115
  • 8. TOWN OF CHRISTIANSBURG MARKET ANALYSIS Second Quarter 2014 Market Snapshot TOTAL SALES There were 91 total sales this past quarter compared to 92 total sales in Q2 2013. This translates to a 1% year-over-year decrease. MEDIAN PRICE The median sales price this past quarter was $166,000 compared to $175,625 in Q2 2013. -1% $166,000 18% TOTAL INVENTORY At the end of this past quarter, inventory levels were 18% higher than at the end of Q2 2013. 94 DAYS ON MARKET Homes sold this past quarter spent an average of 94 days on market before being sold. CONTRACTS WRITTEN There were 91 contracts written this past quarter compared to 78 in Q2 2013. This translates to a 21% year-over-year increase. MONTHS OF INVENTORY At the end of this past quarter, there was a total of 8 months of inventory available on the market in the Town of Christiansburg. 21% 8 '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q2 0 25 50 75 100 125 150 44 90 64 48 64 89 47 47 118 54 45 92 78 93 112 85 37 75 55 55 91 Five Year Sales Trend (Total Sales) 0% 25% 50% 75% 100% 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 60% 48% 64% 20% 26% 56% 65% 23% 27% 33%12% 13% 4% 4% 8% 6% 11% 2% 3% 7% 1% 1% 1% 1% Sales by Price Range 0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+
  • 9. TOWN OF CHRISTIANSBURG MARKET ANALYSIS Second Quarter 2014 Quarterly Performance & Yearly Growth TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 8999185,000191,956195,07565 % Change 9.38%-4.73%2.78%1.45%0.04%-13.33% 2013 Q2 81104180,000189,205195,00375 % Change -24.38%6.39%4.65%0.06%-0.44%36.36% 2012 Q2 10798172,000189,091195,86555 CONTRACTS WRITTEN 76 18.75% 64 -3.03% 66 TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 10793138,000143,454148,64024 % Change 92.04%-6.33%5.54%3.13%3.51%71.43% 2013 Q2 5699130,750139,100143,60014 % Change -29.47%2.64%-3.51%-3.95%-3.06%-46.15% 2012 Q2 7997135,500144,815148,13326 CONTRACTS WRITTEN 18 80.00% 10 -65.52% 29 TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 102150241,500241,500250,4502 % Change -53.44%8.24%5.46%3.28%3.09%-33.33% 2013 Q2 218139229,000233,833242,9333 % Change -39.36%1.77%-16.58%-15.88%-5.11%-25.00% 2012 Q2 360136274,500277,963256,0054 CONTRACTS WRITTEN 30 0.00% 4 n/a 0.00% 4 2012 2013 2014 107 89 25 35 41 111 4 6 3 Year-to-Date Sales by Property Type Attached Condo Detached SINGLEFAMILYATTACHEDCONDO
  • 10. TOWN OF CHRISTIANSBURG MARKET ANALYSIS Second Quarter 2014 June 2014 TOTAL INVENTORY MONTHS OF INVENTORY May 2014 TOTAL INVENTORY MONTHS OF INVENTORY June 2013 TOTAL INVENTORY MONTHS OF INVENTORY Detached Attached Condo All 15.72 7.57 8.15 219 3 53 163 12.98 6.75 6.23 219 3 54 162 21.35 1.5 14.33 5.52 184 3 43 138 Year-to-Date Sales by Property Type January February March April May June July August September October November December 0 50 100 150 200 250 Four Year Inventory History 2011 2012 2013 2014 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2011 Inventory New Listings 2012 Inventory New Listings 2013 Inventory New Listings 2014 Inventory New Listings 15 151 24 161 34 173 31 193 33 202 40 212 42 227 50 243 55 228 61 215 46 204 50 185 24 117 26 130 26 140 33 142 28 139 27 155 22 173 52 179 69 161 40 153 47 152 30 134 19 155 27 174 33 181 39 180 55 183 42 185 54 184 57 165 75 155 47 132 44 126 46 111 46 218 53 219 71 207 58 178 38 167 54 155 3 KEY TAKEAWAYS 1. With total sales remaining flat, median prices increasing for each property type, and 8 months of inventory available, the Christiansburg market is fairly stable. 2. The significant increase in inventory levels, which are as high as they've been since 2011, is due in part to the increase in the average days on market as well as seller confidence in the market. 3. The strong year-over-year increase in the number of contracts written is also a positive signal that the market will maintain momentum moving in the third quarter this year.
  • 11. RADFORD CITY MARKET ANALYSIS Second Quarter 2014 TOTAL SALES There were 38 total sales this past quarter compared to 31 in Q2 2013. This translates to a 23% increase on a year-over-year basis. MEDIAN SALES PRICE The median sales price this past quarter was $151,000 compared to $119,000 in Q2 2013. Quarterly Performance & Yearly Growth '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q2 0 10 20 30 40 50 20 20 34 28 38 27 32 27 33 35 41 18 18 18 16 19 21 31 31 15 11 Five Year Sales Trend (Total Sales) TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 7994151,000159,272165,73538 % Change 14.18%16.54%26.89%32.85%33.12%22.58% 2013 Q2 6981119,000119,885124,49831 % Change -37.83%-11.97%2.59%-11.40%-13.21%14.81% 2012 Q2 11192116,000135,313143,44627 CONTRACTS WRITTEN 46 31.43% 35 2.94% 34 TOTAL INVENTORY At the end of this past quarter, total inventory levels were up 183% compared to the end of Q2 2013. CONTRACTS WRITTEN There were a total of 46 contracts written this past quarter compared to 35 in Q2 2013. This translates to a 31% year-over-year increase. DAYS ON MARKET Homes sold this quarter spent an average of 79 days on market before being sold. MONTHS OF INVENTORY At the end of this past quarter, there were 14 months of inventory available. 23% $151,000 183% 79 31% 14 Market Snapshot
  • 12. MONTGOMERY COUNTY MARKET ANALYSIS Second Quarter 2014 TOTAL SALES There were 61 total sales this past quarter compared to 109 in Q2 2013. This translates to a 44% drop on a year-over-year basis. -44% $240,000 -7% 83 -2% 7 '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q2 0 20 40 60 80 100 120 109 48 64 46 68 34 47 47 43 43 43 36 67 59 22 27 23 52 35 81 61 Five Year Sales Trend (Total Sales) MEDIAN SALES PRICE The median sales price this past quarter was $240,000 compared to $218,000 in Q2 2013. Quarterly Performance & Yearly Growth TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 83120240,000284,218293,09661 % Change 12.24%5.59%10.09%12.80%12.38%-44.04% 2013 Q2 74114218,000251,958260,804109 % Change -45.66%0.36%-2.44%-1.37%-2.36%60.29% 2012 Q2 137113223,450255,446267,10168 CONTRACTS WRITTEN 87 -2.25% 89 17.11% 76 TOTAL INVENTORY At the end of this past quarter, total inventory levels were down 7% compared to the end of Q2 2013. DAYS ON MARKET Homes sold this quarter spent an average of 83 days on market before being sold. CONTRACTS WRITTEN There were a total of 87 contracts written this past quarter compared to 89 in Q2 2013. This translates to a 2% year-over-year drop. MONTHS OF INVENTORY At the end of this past quarter, there were 7 months of inventory available. Market Snapshot
  • 13. FLOYD COUNTY MARKET ANALYSIS Second Quarter 2014 TOTAL SALES There were 25 total sales this past quarter compared to 26 in Q2 2013. This translates to a 4% drop on a year-over-year basis. MEDIAN SALES PRICE The median sales price this past quarter was $150,000 compared to $153,050 in Q2 2013. Quarterly Performance & Yearly Growth '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q2 0 10 20 30 40 50 20 20 20 24 26 2223 23 2525 10 14 18 12 21 17 17 13 9 11 11 Five Year Sales Trend (Total Sales) TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 148116150,000157,396170,98825 % Change 20.33%16.15%-1.99%-4.22%0.28%-3.85% 2013 Q2 123100153,050164,329170,51426 % Change -18.37%4.84%28.83%9.64%-0.57%13.04% 2012 Q2 15196118,800149,874171,48723 CONTRACTS WRITTEN 27 0.00% 27 42.11% 19 TOTAL INVENTORY At the end of this past quarter, total inventory levels were down 2% compared to the end of Q2 2013. DAYS ON MARKET Homes sold this quarter spent an average of 148 days on market before being sold. CONTRACTS WRITTEN There were a total of 27 contracts written this past quarter compared to 27 in Q2 2013. This translates to a 0% year-over-year change. MONTHS OF INVENTORY At the end of this past quarter, there were 26 months of inventory available. -4% $150,000 -2% 148 0% 26 Market Snapshot
  • 14. GILES COUNTY MARKET ANALYSIS Second Quarter 2014 Market Snapshot -38% $114,950 264 8% -7% 10 '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q20 10 20 30 40 50 40 20 24 30 42 34 28 28 26 22 32 23 33 35 35 16 19 19 21 3131 Five Year Sales Trend (Total Sales) TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 26478114,950133,545140,03426 Quarterly Performance & Yearly Growth % Change 72.14%-5.52%-16.37%-14.30%-14.89%-38.10% 2013 Q2 15383137,450155,821164,53842 % Change 5.22%2.51%27.27%11.11%11.77%35.48% 2012 Q2 14681108,000140,242147,20931 CONTRACTS WRITTEN 41 7.89% 38 31.03% 29 TOTAL SALES There were 26 total sales this past quarter compared to 42 total sales in Q2 2013. This translates to a 38% year-over-year drop. MEDIAN SALES PRICE The median home price was $114,950 this past quarter compared to a median price of $137,450 in Q2 2013. DAYS ON MARKET Homes sold this quarter spent an average of 264 days on market before being sold. TOTAL INVENTORY At the end of this past quarter, total inventory levels were down 7% compared to the end of Q2 2013. CONTRACTS WRITTEN There were a total of 41 contracts written this past quarter compared to 38 in Q2 2013. This translates to a 8% year-over-year increase. MONTHS OF INVENTORY At the end of this past quarter, there were 10 months of inventory available.
  • 15. PULASKI COUNTY MARKET ANALYSIS Second Quarter 2014 30% Market Snapshot $139,200 124 16% 7% 11 '09Q2 '09Q3 '09Q4 '10Q1 '10Q2 '10Q3 '10Q4 '11Q1 '11Q2 '11Q3 '11Q4 '12Q1 '12Q2 '12Q3 '12Q4 '13Q1 '13Q2 '13Q3 '13Q4 '14Q1 '14Q20 20 40 60 80 100 60 4849 49 68 70 47 54 5454 54 83 52 52 52 33 53 41 41 31 71 Five Year Sales Trend (Total Sales) Quarterly Performance & Yearly Growth TOTAL SALES AVG. LIST PRICE AVG. SALES PRICE MEDIAN SALES PRICE AVG. $/SQ.FT. AVG. DAYS ON MARKET 2014 Q2 12488139,200159,226165,90570 % Change 19.12%10.92%5.45%10.40%8.47%29.63% 2013 Q2 10479132,011144,230152,95454 % Change 13.74%2.75%11.87%18.79%18.53%-20.59% 2012 Q2 9277118,000121,415129,03868 CONTRACTS WRITTEN 80 69 15.94% 1.47% 68 TOTAL SALES There were 70 total sales this past quarter compared to 54 total sales in Q2 2013. This translates to a 30% year-over-year increase. MEDIAN SALES PRICE The median home price was $139,200 this past quarter compared to a median price of $132,011 in Q2 2013. TOTAL INVENTORY At the end of this past quarter, total inventory levels were up 7% compared to the end of Q2 2013. DAYS ON MARKET Homes sold this quarter spent an average of 124 days on market before being sold. CONTRACTS WRITTEN There were a total of 80 contracts written this past quarter compared to 69 in Q2 2013. This translates to a 16% year-over-year increase. MONTHS OF INVENTORY At the end of this past quarter, there were 11 months of inventory available.