2013 Nest Realty New River Valley Annual Report

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 Valleys 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
ANNUAL TOTAL SALES VOLUME
$315,000,000
$275,000,000
$250,000,000
$225,000,000
$200,000,000
$175,000,000
$150,000,000
$157,000,000
$125,000,000
$100,000,000
$75,000,000
$80,779,303
$50,000,000
$25,000,000
$28,085,866
2009
TOTAL
CLOSINGS:
913
$48,367,528
2010
2011
2012
2013
TOTAL SALES
$315,000,000
Named #882 in the annual
Our agents use of technology meant he was in regular

co m m u n i c at i o n w i t h u s w h i l e we we n t a b o u t o u r l i ve s . We
recommend Nest Realty to everyone we know!
- Sean and Korine
fastest-growing private American

companies list
AREA ANALYSIS FOR NEW RIVER VALLEY AREA MSA

SALES BY TYPE 2013
2013
2012
2011
1,592
8.97%
1,461
4.21%
1,402
Median Price $
165,000
6.45%
155,000
4.03%
149,000
Days on Market
108
-10.00%
120
-3.23%
124
Avg. List Price $
199,284
5.79%
188,370
6.84%
176,307
Avg. Sale Price $
190,922
7.03%
178,387
7.06%
166,630
10.05
-7.80%
10.90
-17.17%
13.16
11.56%
233,615,386
Total Sales
Months of Inventory
Total Volume $ 303,949,383 16.62% 260,623,455
Single Family 1371

Condo 63
Attached 158
SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

42%
2013
21%
2012
23%
2011
14%
21%
45%
41%
29%
0%
25%
10%
20%
9%
19%
50%
75%
2%
2%
1%
100%
NEW RIVER VALLEY MSA

TOTAL SALES
MONTHS OF INVENTORY
1,600
14
1,592
1,500
1,400
1,461
1,428
1,300
1,200
13
12.94
$160,000
13.16
$155,000
11
10
1,256
INVENTORY LEVELS
$165,000
12
1,402
MEDIAN PRICE
1,600
165,000
160,000
10.54
10.05
149,900
$145,000
149,000
$140,000
1,100
1,000
$135,000
1,000
TREND
2011
2012
2013
2009
TREND
2010
2011
2012
2013
2009
TREND
2010
2011
1,537
1,327
1,342
1,200
9
2010
1,526
1,300
1,1 00
2009
1,518
1,400
155,000
$150,000
10.90
1,500
2012
2013
2009
TREND
2010
2011
2012
2013
AREA ANALYSIS FOR BLACKSBURG IN TOWN

SALES BY TYPE 2013
2013
2012
2011
328
27.13%
258
12.66%
229
Median Price $
229,975
4.42%
220,250
2.10%
215,730
Days on Market
84
-20.00%
105
-8.70%
115
Avg. List Price $
262,539
6.48%
246,561
-0.17%
246,979
Avg. Sale Price $
254,696
6.80%
238,470
0.82%
236,542
5.30
-19.33%
6.57
-21.88%
8.41
83,540,528
35.78%
61,525,305
13.58%
54,168,194
Total Sales
Months of Inventory
Total Volume $
Single Family 205

Condo 52
Attached 71

2013
33%
5%
2012
3%
2011
6%
39%
35%
0%
25%
3%
26%
32%
37%
20%
1%
38%
18%
2%
50%
75%
100%
BLACKSBURG IN TOWN
TOTAL SALES
350
325
328
MONTHS OF INVENTORY
MEDIAN PRICE
10
$230,000
300
275
250
258
256
237
225
10.53
$210,000
8.41
6.57
229
200
5.30
4
2009
TREND
2010
2011
2012
2013
250
$220,000
8.48
2009
TREND
2010
2011
2012
INVENTORY LEVELS
223,000
218,000
220,250
229,975
175
$190,000
150
$180,000
125
$170,000
100
2009
TREND
2010
2011
219
200
215,730
$200,000
2013
250
225
2012
2013
161
2009
TREND
2010
2011
141
145
2012
2013
AREA ANALYSIS FOR CHRISTIANSBURG IN TOWN

SALES BY TYPE 2013
2013
2012
2011
267
-1.48%
271
1.50%
267
Median Price $
169,000
5.63%
160,000
0.00%
160,000
Days on Market
85
-23.42%
111
-2.63%
114
Avg. List Price $
184,121
1.60%
181,221
2.91%
176,090
Avg. Sale Price $
178,025
1.23%
175,859
3.43%
170,032
6.95
6.76%
6.51
-27.42%
8.97
47,532,844
-0.26%
47,657,875
4.98%
45,398,609
Total Sales
Months of Inventory
Total Volume $
Single Family 211

Condo 6
Attached 50

2013
2012
2011
57%
11%
27%
65%
7%
23%
63%
10%
0%
50%
.5%
6%
0%
3% 0%
24%
25%
5%
75%
100%
CHRISTIANSBURG IN TOWN
TOTAL SALES
MONTHS OF INVENTORY
350
325
MEDIAN PRICE
12
$170,000
11.50
10
329
300
275
9.27
$165,000
267
250
267
250
225
200
2009
TREND
2010
2011
2012
2013
275
6.95
169,000
169,000
$160,000
8.97
6
271
INVENTORY LEVELS
160,000
$155,000
200
$150,000
175
$145,000
150
$140,000
125
6.51
2009
TREND
2010
2011
2012
2013
2009
TREND
2010
2011
2012
277
225
163,500
160,000
272
250
2013
200
147
2009
TREND
2010
2011
2012
155
2013
MONTGOMERY
RADFORD
TOTAL SALES
Montgomery
2013
2012
Total Sales
283
20.94%
234
250
200,000
0.28%
199,450
200
Median Price $
Days on Market
91
-20.87%
115
100
244,774
1.96%
240,074
Avg. Sale Price $
236,339
2.63%
230,273
Months of Inventory
Total Volume $
7.57
-14.75%
8.88
66,884,181
24.13%
53,883,875
MEDIAN PRICE
246,500
135
50
0
2009
2010
2011
2013
209,500
199,450
$190,000
200,000
$180,000
2010
2011
2012
2013
FLAT
107
8.08%
99
105
Median Price $
125,000
-3.10%
129,000
100
Days on Market
86
-35.82%
134
Avg. List Price $
144,463
-3.79%
150,161
Avg. Sale Price $
137,035
-2.97%
141,234
6.17
-33.08%
9.22
14,662,795
4.87%
13,982,181
Months of Inventory
$130,000
9.23
7.48
7.57
2013
11.74
10
133,000
129,000
129,000
125,000
124,000
9.90
9
8
$105,000
9.22
8.80
6.17
5
2009
TREND
2012
TREND
$110,000
TREND
2010
MONTHS OF INVENTORY
$120,000
2013
2011
91
2009
5
2012
99
80
2011
99
85
$115,000
2010
101
90
2009
107
11
$125,000
8.88
110
95
$135,000
4
2009
Total Sales
MEDIAN PRICE
11.18
$200,000
2012
Total Volume $
8
225,000
2012
TREND
$230,000
TREND
129
10
$240,000
$220,000
234
MONTHS OF INVENTORY
$250,000
186
150
Avg. List Price $
2013
300
283
TOTAL SALES
Radford
2010
2011
2012
2013
2009
TREND
2010
2011
2012
2013
FLOYD
Floyd
Total Sales
Median Price $
Days on Market
GILES
%
2012
82
9.33%
75
80
150,000
3.52%
144,900
70
173
30.08%
133
50
178,734
2.76%
173,931
Avg. Sale Price $
167,664
5.85%
158,402
Total Volume $
18.29
-8.18%
19.92
65,038,265
15.54%
56,292,965
MEDIAN PRICE
150,000
$145,000
147,500
144,900
75
67
62
57
40
30
2009
2010
2011
2012
2013
139,000
Total Sales
120
9.40%
117
Avg. List Price $
150,726
9.26%
137,954
Avg. Sale Price $
143,652
10.32%
$130,217
10.80
-9.70%
11.96
19,105,799
41.08%
13,542,554
18
18.74
19.92
18.29
110
120,000
$115,000
117,200
$120,000
$90,000
2009
TREND
108,500
2011
2012
2013
104
96
90
80
2009
2010
2011
2012
2013
TREND
15
15.74
14
11
98,950
11.79
11.39
11.96
10.80
10
93,500
2009
TREND
108
12
$100,000
2010
118
13
$105,000
12.84
133
100
$110,000
14.73
140
MONTHS OF INVENTORY
$120,000
$95,000
TREND
130
128
10
2013
104
Days on Market
$125,000
2012
27.88%
MEDIAN PRICE
20
14
2011
133
117,200
12
2010
2012
2.39%
$130,000
2009
120,000
Months of Inventory
TOTAL SALES
2013
Median Price $
Total Volume $
TREND
16
141,000
$135,000
82
MONTHS OF INVENTORY
$150,000
$140,000
Giles
90
60
Avg. List Price $
Months of Inventory
TOTAL SALES
2013
2010
9
2011
2012
2013
2009
TREND
2010
2011
2012
2013
PULASKI
Pulaski
Total Sales
2013
2012
218
-3.54%
226
124,000
10.76%
111,950
Days on Market
104
-4.59%
109
Avg. List Price $
145,585
12.39%
129,531
Avg. Sale Price $
138,337
12.83%
122,603
11.22
25.22%
8.96
30,157,000
8.84%
27,708,246
Months of Inventory
Total Volume $
MEDIAN PRICE
$105,000
124,000
210
1210 Draper Road $455,000
1225 Village Way South $360,000
226
220
A SAMPLING OF OUR 2013 SOLD PROPERTIES
218
200
190
180
182
175
170
2009
2010
2011
2012
2013
TREND
11.06
11.22
10.97
10
111,950
110,000
13.54
12
11
115,000
589 Hale Street $278,000
810 Sunrise Drive $485,000
814 North Village Way $277,000
1610 Boxwood Drive $380,000
2302 Capistrano Street $216,000
740 Oak Tree Boulevard $158,000
$100,000
8.96
100,000
$95,000
7
2009
TREND
819 North Village Way $380,000
230
13
$120,000
$110,000
402 Landsdowne Street $245,000
MONTHS OF INVENTORY
$125,000
$115,000
250 South Main Street #207 $158,000
TOTAL SALES
220
Median Price $
2001 Birchleaf Lane $253,000
2010
2011
2012
2013
2009
2010
2011
2012
2013
TREND
LIVE WHERE YOU LOVE
800-325-6378 (NEST)
www.NestRealty.com

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MARKET REPORT

NEW RIVER VALLEY

2013 was a year of modest growth and marked

Named #882 in the annual

Our agents use of technology meant he was in regular

- Sean and Korine

fastest-growing private American

AREA ANALYSIS FOR NEW RIVER VALLEY AREA MSA

Avg. List Price $

Avg. Sale Price $

Total Volume $ 303,949,383 16.62% 260,623,455

Single Family 1371

SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

NEW RIVER VALLEY MSA

AREA ANALYSIS FOR BLACKSBURG IN TOWN

Avg. List Price $

Avg. Sale Price $

Single Family 205

SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

AREA ANALYSIS FOR CHRISTIANSBURG IN TOWN

Avg. List Price $

Avg. Sale Price $

Single Family 211

SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

Avg. Sale Price $

Avg. List Price $

Avg. Sale Price $

Avg. List Price $

Avg. Sale Price $

Avg. List Price $

Avg. Sale Price $

Avg. List Price $

Avg. List Price $

Avg. Sale Price $

1210 Draper Road $455,000

1225 Village Way South $360,000

A SAMPLING OF OUR 2013 SOLD PROPERTIES

589 Hale Street $278,000

810 Sunrise Drive $485,000

814 North Village Way $277,000

1610 Boxwood Drive $380,000

2302 Capistrano Street $216,000

740 Oak Tree Boulevard $158,000

819 North Village Way $380,000

402 Landsdowne Street $245,000

250 South Main Street #207 $158,000

2001 Birchleaf Lane $253,000

LIVE WHERE YOU LOVE

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