Download - 2014 Q3 Nest Report
Q3 2014 New River Valley Market Report
NEW RIVER VALLEY MSA MARKET ANALYSIS Third Quarter 2014
Market Snapshot
-4% $163,900TOTAL SALESThere were 459 total sales thispast quarter compared to 476 inQ2 2013. This translates to a 4%drop on a year-over-year basis.
MEDIAN SALES PRICEThe median sales price this pastquarter was $163,900 compared to$164,950 in Q3 2013.
TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down1% compared to the end of Q3 2013.
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
3
0
100
200
300
400
500
600
449
300
450 450428
476465 459
250
427
305334
262236
527
412
321
271251
313311
Five Year Sales Trend (Total Sales)
119DAYS ON MARKETHomes sold this quarter spent anaverage of 119 days on market before being sold.
-3%CONTRACTS WRITTENThere were 406 contracts writtenthis past quarter compared to 420in Q3 2013. This translates to a 3%year-over-year decrease.
MONTHS OF INVENTORYAt the end of this past quarter,there were 12 months of inventory available.
09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014 07/2014 08/2014 09/2014
120K
140K
160K
180K
200K
220K
180,672186,325
211,285
188,144
153,488
190,295191,057
155,397
192,465
170,696
205,933
168,935165,947
156,000159,000 155,000
186,000
130,000
184,000
150,550
164,100165,500
167,000
144,001
141,950
140,000
Average & Median Price Trends
AVG. SALES PRICE MEDIAN SALES PRICE
09/2013 10/2013 11/2013 12/2013 01/2014 02/2014 03/2014 04/2014 05/2014 06/2014 07/2014 08/2014 09/2014
155,000
168,935
159,000
186,325
184,000
205,933
186,000
211,285
167,000
192,465
150,550
180,672
144,001
153,488
141,950
165,947
130,000
155,397
156,000
190,295
140,000
170,696
165,500
191,057
164,100
188,144Average Median
-1%
12
NEW RIVER VALLEY MSA MARKET ANALYSIS Third Quarter 2014
Quarterly Performance & Yearly Growth
TOTALSALES
AVG. LISTPRICE
AVG. SALESPRICE
MEDIANSALES PRICE
AVG.$/SQ.FT.
AVG. DAYSON MARKET
2014 Q3 11998169,400194,187201,851402% Change 8.68%-1.10%1.59%-3.26%-3.46%-2.43%
2013 Q3 10999166,750200,728209,080412% Change -5.03%-0.85%1.68%8.24%7.92%11.35%
2012 Q3 115100164,000185,440193,734370
CONTRACTSWRITTEN
357
-4.03%
372
12.39%
331SIN
GLE
FA
MIL
YA
TT
AC
HE
D
TOTALSALES
AVG. LISTPRICE
AVG. SALESPRICE
MEDIANSALES PRICE
AVG.$/SQ.FT.
AVG. DAYSON MARKET
2014 Q3 102112167,375178,370183,29336
% Change -10.70%3.25%0.37%2.36%2.06%-25.00%
2013 Q3 114109166,750174,259179,60048
% Change 28.71%4.87%6.55%13.50%12.92%9.09%
2012 Q3 88104156,500153,526159,05344
CONTRACTSWRITTEN
34
-5.56%
36
12.50%
32
TOTALSALES
AVG. LISTPRICE
AVG. SALESPRICE
MEDIANSALES PRICE
AVG.$/SQ.FT.
AVG. DAYSON MARKET
2014 Q3 141126120,000117,624127,67621
% Change 63.60%-7.96%-0.37%-12.58%-9.20%31.25%
2013 Q3 114109166,750174,259179,60048
% Change -50.42%-0.57%2.08%-8.94%-6.40%23.08%
2012 Q3 174138118,000147,773150,22713
CO
ND
O
CONTRACTSWRITTEN
15
25.00%
12
33.33%
9
2012 2013 2014
1,092 1,029979
120124 1264745 59
Year-to-Date Sales by Property Type
Detached Townhome/Twin Condo
NEW RIVER VALLEY MSA MARKET ANALYSIS Third Quarter 2014
September 2014
INVENTORYMONTHS OFINVENTORY
August 2014
INVENTORYMONTHS OFINVENTORY
September 2013
INVENTORYMONTHS OFINVENTORY
Single Family
Attached
Condo
All 22.54
10.33
12.21
1,425
38
93
1,294
19.25
2.38
7.14
9.73
1,491
38
100
1,353
40.16
22
8.1
10.06
1,445
66
81
1,298
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
220
1,425
247
1,491
262
1,502
304
1,492
357
1,496
362
1,423
339
1,297
243
1,212
264
1,159
3 KEY TAKEAWAYS 1. The New River Valley marketplace continued to experience a decline in total sales this past quarterputting year-to-date sales 4.5% below sales levels this time last year. 2. The slow pace of sales, as exhibited by the increase in days on market, has caused months of inventory to increase despite the fact that inventory levels have remained relatively flat on a year-over-year basis. 3. The stability of median sales prices is a positive sign for buyers and sellers alike as it demonstratesthat homes are at least holding their value.
n/a
12.39 8.82 10.18
TOWN OF BLACKSBURG MARKET ANALYSIS Third Quarter 2014
Market Snapshot
-3% $234,000
98 -19%
TOTAL SALESThere were 87 totals sales this pastquarter compared to 90 total salesin Q3 2013. This translates to a 3%drop on a year-over-year basis.
MEDIAN SALES PRICEThe median sales price was$234,000 this past quarter com-pared to $266,000 in Q3 2013.
TOTAL INVENTORYAt the end of this past quarter,total inventory levels were down7% compared to the end of Q3 2013.
DAYS ON MARKETHomes sold this past quarter spentan average of 98 days on market before being sold.
CONTRACTS WRITTENThere were 58 contracts writtenthis past quarter compared to 72written in Q3 2013. This translatesto a 19% year-over-year decrease.
MONTHS OF INVENTORYAt the end of this past quarter,there were 11 months of inventoryavailable for sale.
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
3
0
20
40
60
80
100
120
140
103
9090
64
86
50
34
74
47 47 47 43
54
828787
6356
121
52
35
Five Year Sales Trend (Total Sales)
0% 25% 50% 75% 100%
2014Q3
2014Q2
2014Q1
2013Q4
2013Q3 20%30%
28%
29%
26%
38%
38% 23%
33%
37%
53%
14%14%
18%
16%
12%
17%4%
6%
6%
11% 2%
2%2%
2%
3%
5%
5%
5%
Sales by Price Range
0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+
-7%
11
TOWN OF BLACKSBURG MARKET ANALYSIS Third Quarter 2014
Quarterly Performance & Yearly Growth
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 87133310,000325,321333,34151% Change 14.70%0.12%-6.63%-4.55%-4.78%-13.56%
2013 Q3 76132332,000340,842350,09259% Change -4.53%5.22%26.00%20.34%20.29%15.69%
2012 Q3 79126263,500283,242291,03551
CONTRACTSWRITTEN
31
-36.73%
49
25.64%
39
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 93122177,050192,319197,76118
% Change 13.77%4.23%2.79%4.38%4.41%-10.00%
2013 Q3 81117172,250184,245189,40920
% Change -15.22%-3.65%1.92%9.75%8.81%53.85%
2012 Q3 96121169,000167,885174,07713
CONTRACTSWRITTEN
17
30.77%
13
30.00%
10
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 134134121,300121,894132,68318
% Change 94.01%-10.79%0.25%-2.16%0.98%63.64%
2013 Q3 69150121,000124,591131,39111
% Change -61.95%7.76%5.22%7.87%7.37%10.00%
2012 Q3 182139115,000115,505122,37010
CONTRACTSWRITTEN
10
0.00%
10
66.67%
6
2012 2013 2014
170 123137
40 44 5034
5837
Year-to-Date Sales by Property Type
Condo Detached Townhome/Twin
SIN
GLE
FA
MIL
YA
TT
AC
HE
DC
ON
DO
TOWN OF BLACKSBURG MARKET ANALYSIS
Third Quarter 2014
3 KEY TAKEAWAYS
1. Total sales levels in Blaksburg this past quarter were bolstered by a significant upswing in condo sales(65%), which was the only property type segment to experience an increase in total number of sales. 2. Despite a year-over-year decrease in inventory levels, months of inventory has risen to nearly 11months due to the significant drop off in sales year-to-date and increasing days on market. 3. The decline in inventory levels is also due in part to the impact of declining median prices on potentialseller's willingness to put their home on the market when it is demonstrating signs of stagnation.
September 2014
TOTALINVENTORY
MONTHS OFINVENTORY
August 2014
TOTALINVENTORY
MONTHS OFINVENTORY
September 2013
TOTALINVENTORY
MONTHS OFINVENTORY
Detached
Attached
Condo
All 16.2
7.8
8.4
138
31
31
76
10.2
2.2
4.8
3.3
141
31
38
72
55.2
28.5
22.0
4.7
149
57
22
70
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 InventoryNew Listings
2012 InventoryNew Listings
2013 InventoryNew Listings
2014 InventoryNew Listings
11122
19137
23136
19150
26157
26166
31183
46202
59201
56173
37156
39143
28145
21134
27138
12145
26149
31155
33158
29152
50161
67127
43120
36112
19123
14130
21145
62149
31130
28131
31142
30149
49159
71179
48158
39135
34138
23141
33146
37148
45181
44176
58169
48143
39115
10.62 3.20 8.28
n/a
TOWN OF CHRISTIANSBURG MARKET ANALYSIS Third Quarter 2014
Market Snapshot
TOTAL SALESThere were 77 total sales this pastquarter compared to 78 total salesin Q3 2013. This translates to a 1%year-over-year decrease.
MEDIAN PRICEThe median sales price this pastquarter was $178,400 compared to$171,475 in Q3 2013.
-1% $178,400 6%TOTAL INVENTORYAt the end of this past quarter,total inventory levels were up 6%compared to the end of Q3 2013.
106DAYS ON MARKETHomes sold this past quarter spentan average of 106 days on marketbefore being sold.
CONTRACTS WRITTENThere were 77 contracts writtenthis past quarter compared to 75 inQ3 2013. This translates to a 3%year-over-year increase.
MONTHS OF INVENTORYAt the end of this past quarter,there was a total of 10 months ofinventory available.
3% 10
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
3
0
25
50
75
100
125
150
44
90
64
48
64
89
47 4754
45
92
78
93
112
85
37
7775
55 55
91
Five Year Sales Trend (Total Sales)
0% 25% 50% 75% 100%
2014Q3
2014Q2
2014Q1
2013Q4
2013Q3
60%
64% 20%
26%
26%
56%
65% 23%
27%
53%10%
13%
4%
4%
8%
9%
6%
11% 2%3%
3% 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 Third Quarter 2014
Quarterly Performance & Yearly Growth
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 10492183,450189,463194,67166% Change 53.74%-11.08%4.83%-1.25%-1.61%8.20%
2013 Q3 68104175,000191,853197,85661% Change -30.61%-2.00%0.00%3.42%3.67%-7.58%
2012 Q3 98106175,000185,502190,84466
CONTRACTSWRITTEN
60
-3.23%
62
31.91%
47
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 116103137,000135,854140,83611
% Change -24.14%0.82%-13.29%-12.28%-11.25%-26.67%
2013 Q3 153102158,000154,877158,69715
% Change 93.97%7.56%12.94%9.15%7.08%-37.50%
2012 Q3 7995139,900141,894148,20324
CONTRACTSWRITTEN
15
15.38%
13
-23.53%
17
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2013 Q3 173132233,000233,000239,9002
% Change
2013 Q3 173132233,000233,000239,9002
% Change 17.61%-1.17%-12.08%-8.75%-1.31%-33.33%
2012 Q3 147134265,000255,333243,0833
CONTRACTSWRITTEN
2
0.00%
2
2012 2013 2014
168 177155
4059
52
6
9
3
Year-to-Date Sales by Property Type
Attached Condo Detached
SIN
GLE
FA
MIL
YA
TT
AC
HE
DC
ON
DO
2014 Q3 0 0
n/a n/a n/a n/a n/a n/a
0 0 0 0
0
n/a
TOWN OF CHRISTIANSBURG MARKET ANALYSIS Third Quarter 2014
September 2014
TOTALINVENTORY
MONTHS OFINVENTORY
August 2014
TOTALINVENTORY
MONTHS OFINVENTORY
September 2013
TOTALINVENTORY
MONTHS OFINVENTORY
Detached
Attached
Condo
All 18
8.2
9.8
190
2
41
147
49.05
42
7.05
199
2
42
155
14.37
7.8
6.57
180
3
39
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 Dec2011 Inventory
New Listings2012 Inventory
New Listings2013 Inventory
New Listings2014 Inventory
New Listings
15151
24161
34173
31193
33202
40212
42227
50243
55228
61215
46204
50185
24117
26130
26140
33142
28139
27155
22173
52179
69161
40153
47152
30134
19155
27174
33181
39180
55183
42185
54184
57165
75155
47132
44126
46111
42190
43199
30213
46218
53219
71207
58178
38167
54155
3 KEY TAKEAWAYS 1. The Christiansburg market continues to exhibit stability as total sales levels remained relatively flatcompared to Q3 2013 and median prices saw a slight increase, rising by 4%. 2. The combination of rising inventory levels and increasing days on market could lead to a slower thannormal Q4 performance this year. We will be monitoring listing activity next quarter as we transition into 2015. 3. With total sales up over 8% year-to-date in comparison to 2013 and the number of contracts written3% higher compared to Q3, the Christiansburg market is poised to finish out a strong year.
9.50 8.65 6.92
n/a n/a n/a
FLOYD COUNTY MARKET ANALYSIS Third Quarter 2014
TOTAL SALESThere were 24 total sales this pastquarter compared to 20 in Q32013. This translates to a 20% in-crease on a year-over-year basis.
MEDIAN SALES PRICEThe median sales price this pastquarter was $150,000 comparedto $169,375 in Q3 2013.
Quarterly Performance & Yearly Growth
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
30
10
20
30
40
50
20 20
242426
2223 2325 25
10
14
18
12
21
17 17
13
911 11
Five Year Sales Trend (Total Sales)
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 158113150,000189,304212,71924
% Change -37.89%-2.66%-11.44%0.74%6.90%20.00%
2013 Q3 255116169,375187,920198,99320
% Change 129.72%6.45%1.73%13.10%12.75%17.65%
2012 Q3 111109166,500166,160176,49317
CONTRACTSWRITTEN
23
9.52%
21
-4.55%
22
TOTAL INVENTORYAt the end of this past quarter, total inventory levels were up 6%compared to the end of Q3 2013.
DAYS ON MARKETHomes sold this quarter spent anaverage of 158 days on market before being sold.
CONTRACTS WRITTENThere were a total of 23 contractswritten this past quarter comparedto 21 in Q3 2013. This translates toa 10% year-over-year increase.
MONTHS OF INVENTORYAt the end of this past quarter,there were 18 months of inventory available.
20% $150,000 6%
158 10% 18
Market Snapshot
GILES COUNTY MARKET ANALYSIS Third Quarter 2014
Market Snapshot
3% $110,000
127 -24%
-17%
10
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
30
10
20
30
40
50
40
20
24
30
42
34
28 2826
22
32
23
3335
41
1619 19
21
31 31
Five Year Sales Trend (Total Sales)
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 12777110,000127,910132,88941
Quarterly Performance & Yearly Growth
% Change 11.57%-1.43%-3.93%-17.06%-16.87%2.50%
2013 Q3 11478114,500154,219159,85540
% Change -9.19%-5.96%-2.30%18.14%16.60%42.86%
2012 Q3 12583117,200130,541137,09528
CONTRACTSWRITTEN
32
-23.81%
42
44.83%
29
TOTAL SALESThere were 41 total sales this pastquarter compared to 40 totalsales in Q3 2013. This translates toa 3% year-over-year increase.
MEDIAN SALES PRICEThe median home price was$110,000 this past quarter compared to a median price of$114,500 in Q3 2013.
DAYS ON MARKETHomes sold this quarter spent anaverage of 127 days on market before being sold.
TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down17% compared to the end of Q3 2013.
CONTRACTS WRITTENThere were a total of 32 contractswritten this past quarter comparedto 42 in Q3 2013. This translates toa 24% year-over-year decrease.
MONTHS OF INVENTORYAt the end of this past quarter,there were 10 months of inventory available.
MONTGOMERY COUNTY MARKET ANALYSIS Third Quarter 2014
TOTAL SALESThere were 61 total sales this pastquarter compared to 81 in Q3 2013.This translates to a 25% drop on ayear-over-year basis.
-25% $229,000 15%
86 -11% 19
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
30
20
40
60
80
100
120109
64 64
46
68
34
47 4743 43 43
36
67
59
2227
23
52
35
81
61
Five Year Sales Trend (Total Sales)
MEDIAN SALES PRICEThe median sales price this pastquarter was $229,000 comparedto $205,000 in Q3 2013.
Quarterly Performance & Yearly Growth
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 86114229,000265,723273,72361
% Change 4.00%1.26%11.71%12.17%11.79%-24.69%
2013 Q3 82113205,000236,885244,85081
% Change -9.46%4.32%-10.09%0.01%0.58%20.90%
2012 Q3 91108228,000236,863243,42867
CONTRACTSWRITTEN
55
-11.29%
62
-3.12%
64
TOTAL INVENTORYAt the end of this past quarter, total inventory levels were up 15%compared to the end of Q3 2013.
DAYS ON MARKETHomes sold this quarter spent anaverage of 86 days on market before being sold.
CONTRACTS WRITTENThere were a total of 55 contractswritten this past quarter comparedto 62 in Q3 2013. This translates toa 11% year-over-year drop.
MONTHS OF INVENTORYAt the end of this past quarter,there were 19 months of inventory available.
Market Snapshot
PULASKI COUNTY MARKET ANALYSIS Second Quarter 2014
13%
Market Snapshot
$111,250
114 32%
-11%
7
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
30
20
40
60
80
100
80
60
48 49
68
47
54 5454 54
83
52 52 52
33
53
41 41
31
71 71
Five Year Sales Trend (Total Sales)
Quarterly Performance & Yearly Growth
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 11474111,250123,481127,89280
% Change 14.56%-9.04%-9.55%-10.50%-10.88%12.68%
2013 Q3 9981123,000137,963143,50871
% Change -10.82%6.22%3.32%5.37%5.81%31.48%
2012 Q3 11176119,050130,927135,62354
CONTRACTSWRITTEN
78
59
32.20%
0.00%
59
TOTAL SALESThere were 80 total sales this pastquarter compared to 71 total salesin Q3 2013. This translates to a 13%year-over-year increase.
MEDIAN SALES PRICEThe median home price was$111,250 this past quarter compared to a median price of$123,000 in Q3 2013.
TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down11% compared to the end of Q32013.
DAYS ON MARKETHomes sold this quarter spent anaverage of 114 days on market before being sold.
CONTRACTS WRITTENThere were a total of 78 contractswritten this past quarter comparedto 59 in Q3 2013. This translates toa 32% year-over-year increase.
MONTHS OF INVENTORYAt the end of this past quarter,there were 7 months of inventory available.
RADFORD CITY MARKET ANALYSIS Third Quarter 2014
TOTAL SALESThere were 33 total sales this pastquarter compared to 41 in Q3 2013.This translates to a 20% decreaseon a year-over-year basis.
MEDIAN SALES PRICEThe median sales price this pastquarter was $169,800 compared to$134,400 in Q3 2013.
Quarterly Performance & Yearly Growth
'09
Q3
'09
Q4
'10 Q
1
'10 Q
2
'10 Q
3
'10 Q
4
'11 Q
1
'11 Q
2
'11 Q
3
'11 Q
4
'12 Q
1
'12 Q
2
'12 Q
3
'12 Q
4
'13 Q
1
'13 Q
2
'13 Q
3
'13 Q
4
'14 Q
1
'14 Q
2
'14 Q
30
10
20
30
40
50
20 20
34
28
39
32
27 27
33 3335
41
18 18 1816
1921
31
15
11
Five Year Sales Trend (Total Sales)
TOTAL SALESAVG. LIST
PRICEAVG. SALES
PRICEMEDIAN
SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET
2014 Q3 6092169,800164,262171,17233
% Change -32.41%9.70%26.34%7.61%5.58%-19.51%
2013 Q3 8884134,400152,651162,12941
% Change -36.42%-6.45%2.57%13.70%12.74%17.14%
2012 Q3 13989131,031134,259143,81035
CONTRACTSWRITTEN
23
-32.35%
34
47.83%
23
TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down14% compared to the end of Q3 2013.
CONTRACTS WRITTENThere were a total of 23 contractswritten this past quarter comparedto 34 in Q3 2013. This translates toa 32% year-over-year decrease.
DAYS ON MARKETHomes sold this quarter spent anaverage of 60 days on market before being sold.
MONTHS OF INVENTORYAt the end of this past quarter,there were 5 months of inventory available.
-20% $169,800 -14%
60 -32% 5
Market Snapshot