q1 2015 new river valley real estate nest report

HOW'STHEMARKET?FIRST QUARTER 2015 NEST REPORT

Town of Blacksburg Town of Christiansburg Montgomery County Floyd County Giles County Radford City Pulaski County

NEW RIVER VALLEY MSA MARKET ANALYSIS First Quarter 2015

Market Snapshot

3% $158,000TOTAL SALESThere were 308 total sales this pastquarter compared to 300 totalsales in Q1 2014. This translates toa 3% year-over-year increase.

MEDIAN SALES PRICEThe median sales price this pastquarter was $158,000 compared to$138,500 in Q1 2014.

TOTAL INVENTORYAt the end of this past quarter, to-tal inventory levels were down 8%compared to the end of Q1 2014.

'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

100

200

300

400

500

600 527

427477

450

300 308

468428

250

449

236

311271251

313262

412

335305

465

335

Five Year Sales Trend (Total Sales)

131DAYS ON MARKETHomes sold this past quarter spentan average of 131 days on marketbefore being sold.

14%CONTRACTS WRITTENThere were 470 contracts writtenthis past quarter compared to 411in Q1 2014. This translates to a14% year-over-year increase.

MONTHS OF INVENTORYAt the end of this past quarter,there were 9 months of inventoryavailable.

03/2014 04/2014 05/2014 06/2014 07/2014 08/2014 09/2014 10/2014 11/2014 12/2014 01/2015 02/2015 03/2015120K

140K

160K

180K

200K

220K

153,488

187,035

187,694 186,141183,231192,506180,672

211,285

179,290

197,607

206,345

199,140

168,625

186,000

159,950164,625

185,000

159,000

158,900

158,000

167,000

155,000

144,001

172,600

150,550 148,450

Average & Median Price Trends

AVG. SALES PRICE MEDIAN SALES PRICE

03/2014 04/2014 05/2014 06/2014 07/2014 08/2014 09/2014 10/2014 11/2014 12/2014 01/2015 02/2015 03/2015

158,900

186,141

148,450

179,290

172,600

197,607

164,625

199,140

158,000

187,035

159,950

183,231

155,000

168,625

159,000

187,694

185,000

206,345

186,000

211,285

167,000

192,506

150,550

180,672

144,001

153,488Average Median

-8%

9


Quarterly Performance & Yearly Growth

TOTALSALES

AVG. LISTPRICE

AVG. SALESPRICE

MEDIANSALES PRICE

AVG.$/SQ.FT.

AVG. DAYSON MARKET

2015 Q1 12997159,900192,525201,465271

% Change 0.89%11.08%17.57%22.35%22.13%8.40%

2014 Q1 12887136,000157,360164,964250

% Change 3.55%-6.99%-9.33%-8.63%-8.99%12.11%

2013 Q1 12394150,000172,225181,249223

CONTRACTSWRITTEN

40319.23%

338-1.74%

344SIN

GLE

FAM

ILY

ATTA

CHED

TOTALSALES

AVG. LISTPRICE

AVG. SALESPRICE

MEDIANSALES PRICE

AVG.$/SQ.FT.

AVG. DAYSON MARKET

2015 Q1 156104161,950176,288182,72124

% Change 53.11%2.47%1.06%4.00%4.47%-25.00%

2014 Q1 102102160,250169,513174,90932

% Change 4.79%-6.93%-4.33%-6.69%-7.16%3.23%

2013 Q1 97109167,500181,668188,40231

CONTRACTSWRITTEN

52

15.56%

45

2.27%

44

TOTALSALES

AVG. LISTPRICE

AVG. SALESPRICE

MEDIANSALES PRICE

AVG.$/SQ.FT.

AVG. DAYSON MARKET

2015 Q1 119118108,000116,408122,21513

% Change 70.66%-13.27%-1.82%-12.51%-12.33%-27.78%

2014 Q1 70136110,000133,056139,41118

% Change -72.11%3.42%1.85%5.91%3.40%125.00%

2013 Q1 251131108,000125,625134,8258

CON

DO

CONTRACTSWRITTEN

15

-46.43%

28

-20.00%

35

2013 2014 2015

250 271223

182431

13

32

8

Year-to-Date Sales by Property Type

Single Family Attached Condo


March 2014

InventoryMonths ofInventory

February 2015


March 2015


AttachedCondoSingle FamilyGrand Total 25.87

9.77.758.42

1,2981,135

62101

23.2915.29

8

1,1751,055

3288

30.329.244.25

16.83

1,1881,053

34101

Inventory Levels & Months of Inventory

January February March April May June July August September October November December1000

1200

1400

1600

1

1

1

1

1

1

1

1

11

1 1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1 1

1

1

1

1

1

1 1

1

Four Year Inventory History

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2011 Inventory

New Listings2012 Inventory




New Listings

1381,318

1741,415

2031,507

1921,620

2771,693

2541,680

3031,745

3701,708

3851,611

3851,478

2871,354

2211,318

1451,175

1551,255

2021,297

1821,355

2191,397

2311,424

2401,472

2941,427

3621,388

3281,297

2721,233

2451,205

1221,246

1601,348

1911,408

2611,445

2661,457

2581,467

3101,447

3321,372

3651,319

3581,251

2541,185

2381,120

1661,240

1611,323

2231,410

2201,425

2471,491

2621,502

3041,492

3571,496

3621,423

3391,297

2431,212

2641,159

3641,188

2201,175

2101,166

3 KEY TAKEAWAYS 1. Single family sales have made a resurgence, as pent-up buyer demand has flooded back to the market. Quarterly data shows double-digit growth in every metric except days on market. 2. With total sales decreasing year-over-year and median sales prices still greater than single-family,the townhouse market might still have a ways to go to recovery. 3. While days on market is still a little higher than other pockets of the market, the consistency overallindicates relative stability across all product types.

n/a

9.2814.699.47

2012 2013 2014 2015

TOWN OF BLACKSBURG MARKET ANALYSIS First Quarter 2015

Market Snapshot

12% $229,000

118 12%

TOTAL SALESThere were 48 total sales this pastquarter compared to 43 total salesin Q1 2014. This translates to a 12 % year-over-year increase.

MEDIAN SALES PRICEThe median sales price this pastquarter was $229,000 comparedto $184,000 in Q1 2014.

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down16% compared to the end of Q1 2014.

DAYS ON MARKETHomes sold this past quarterspent an average of 118 days onmarket before being sold.

CONTRACTS WRITTENThere were 85 contracts writtenthis past quarter compared to 76 inQ1 2014. This translates to a 12%year-over-year increase.

MONTHS OF INVENTORYAt the end of this past quarter,there were 6 months of inventory available.

'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

20

40

60

80

100

120

140121

103

474747

87

4850

90 90 88

34

54

7464

43

6352

82

52

35


0% 25% 50% 75% 100%

2015Q1

2014Q4

2014Q3

2014Q2

2014Q1

33%

53%

37%

34%

44%

40%

13%

28%

38%

10%

15%

17%

16%

12%

28%

29%

2%

5%

5%

4%

8%

2%

2%

6%

6%

2%

6%

2%

2%

Sales by Price Range

0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+

-16%

6



TOTAL SALESAVG. LIST

PRICEAVG. SALES

PRICEMEDIAN

SALES PRICE AVG. $/SQ.FT.AVG. DAYS

ON MARKET2015 Q1 88132265,360295,569307,32127

% Change 48.27%-1.34%-8.87%-0.87%1.31%50.00%

2014 Q1 60134291,200298,166303,35518

% Change -39.13%1.42%23.91%9.06%5.93%-41.94%

2013 Q1 98132235,000273,386286,37431

CONTRACTSWRITTEN

5124.39%

41-31.67%

60


PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 211115170,000169,878176,2339

% Change 173.96%-2.61%4.04%-4.65%-3.77%-10.00%

2014 Q1 77118163,400178,155183,13010

% Change -31.81%1.83%-9.72%-9.10%-9.84%-37.50%

2013 Q1 113116181,000195,994203,12216

CONTRACTSWRITTEN

21

75.00%

12

-33.33%

18


PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 113120112,450117,783123,82512

% Change 100.18%-11.10%2.23%-8.70%-8.14%-20.00%

2014 Q1 57135110,000129,000134,80015

% Change -70.53%7.78%10.00%26.29%25.20%114.29%

2013 Q1 192125100,000102,143107,6717

CONTRACTSWRITTEN

13

-43.48%

23

-32.35%

34

2013 2014 2015

27

18

10

16 31

12

15

7

9



SIN

GLE

FAM

ILY

ATTA

CHED

CON

DO


3 KEY TAKEAWAYS 1. As median price increases in Blacksburg have stalled, sales of single family homes have coincidingly increased. 2. Activity has increased across much of the market, as evidenced by a 12% rise in Contracts written,indicating that buyers are moving back into the market. 3. Six months of inventory is generally considered a "balanced" market. Given the 5.68 months of inventory currently available, it's looking as if the market is trending slightly in favor of sellers.

March 2014

Total Inventory Months OfInventory

February 2015


March 2015


DetachedAttachedCondoAll 28.9

9.013.06.9

169543976

23.0

7.016.0

122233564

23.03.014.75.3

142244474

Inventory Levels & Months of Inventory


120

140

160

180

200

220


2012 2013 2014 2015






New 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

22119

10130

28138

34138

23141

33146

37148

45181

44176

58169

48143

39115

78142

40122

34117

8.45 13.56 5.68

TOWN OF CHRISTIANSBURG MARKET ANALYSIS First Quarter 2015

Market Snapshot

TOTAL SALESThere were 58 total sales this pastquarter compared to 64 total salesin Q1 2014. This translates to a 9%year-over-year decrease.


-9% $167,500 -14%TOTAL INVENTORYAt the end of this past quarter, to-tal inventory levels were down 14%compared to the end of Q1 2014.

108DAYS ON MARKETHomes sold this past quarter spentan average of 108 days on marketbefore being sold.



23% 5

'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

25

50

75

100

125

150

112

474737

6878

4858

9079

64

4454

9193 92

55 55

85

45

75


0% 25% 50% 75% 100%

2015Q1

2014Q4

2014Q3

2014Q2

2014Q1

25%10%

10%

64%

60%

54%

69%

66%

20%

22%

22%

11%

26%

3%

4%

9%

3%

1%

1%

1%4%

2%

8%

2%

Sales by Price Range

0-99,999 100K-199,999 200K-299,999 300K-399,999 400K-499,999 500K+




PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 10491175,000177,690181,01049

% Change -3.76%-9.92%2.49%-2.90%-4.33%6.52%

2014 Q1 108101170,750182,991189,20046

% Change 65.22%4.78%5.24%10.46%9.59%43.75%

2013 Q1 6597162,250165,664172,64232

CONTRACTSWRITTEN

7844.44%

54-3.57%

56


PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 13295150,000148,011152,6119

% Change -0.81%3.13%0.74%-3.22%-2.59%-47.06%

2014 Q1 13492148,900152,933156,66517

% Change 70.40%-8.28%9.08%3.41%2.38%54.55%

2013 Q1 78101136,500147,891153,02711

CONTRACTSWRITTEN

21

-12.50%

24

50.00%

16


PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2014 Q4 35148267,000264,667272,4673

% Change

2014 Q1 115169182,000182,000199,9001

% Change -82.71%-3.20%-37.24%-37.24%-38.47%0.00%

2013 Q1 665174290,000290,000324,9001

CONTRACTSWRITTEN

1

-66.67%

3

200.00%

1

2013 2014 2015

17

49

46

11

32

91 1



SIN

GLE

FAM

ILY

ATTA

CHED

CON

DO

2015 Q1 0 0 0 0 0 0 n/a n/a n/a n/a n/a n/a


March 2014


February 2015


March 2015


Detached

Attached

Condo

All 13.22

7.17

6.05

178

2

43

133

19.31

11.67

7.64

146

4

35

107

16.52

12

4.52

153

4

36

113



50

100

150

200


2012 2013 2014 2015






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

30154

24158

44183

42190

43199

30213

46218

53219

71207

58178

38167

54155

62153

41146

29151

3 KEY TAKEAWAYS 1. 6 out of 10 sales in Christiansburg are priced between $100,000-$200,000, making it the overwhelming sweet spot of the Christiansburg market. 2. A bump in new inventory in March is reminiscent of years past, indicating we're entering Q2 squarely in the spring market. 3. Attached homes are a large segment of the market in Christiansburg. No month-over-month sta-tistical change in this sector's inventory suggests this segment is oversaturated.

6.36 8.59 5.46

n/a n/a n/a

MONTGOMERY COUNTY MARKET ANALYSIS First Quarter 2015

TOTAL SALESThere were 45 total sales this pastquarter compared to 43 total salesin Q1 2014. This translates to a 5%year-over-year increase.

5% $265,000 -8%

106 29% 8

'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

20

40

60

80

100

120109

47

67

47

68

5964

34

64

46

81

61

23

43 43 43

52

22

45

35

65





PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 106111265,000271,133279,41145

% Change -11.62%19.27%70.97%48.90%47.21%4.65%

2014 Q1 12093155,000182,085189,79943

% Change -0.31%-8.39%-19.69%-22.13%-22.17%0.00%

2013 Q1 120101193,000233,820243,85943

CONTRACTSWRITTEN

7129.09%

55-33.73%

83

TOTAL INVENTORYAt the end of this past quarter, to-tal inventory levels were down 8%compared to the end of Q1 2014.

DAYS ON MARKETHomes sold this past quarter spentan average of 106 days on marketbefore being sold.



Market Snapshot

FLOYD COUNTY MARKET ANALYSIS First Quarter 2015

TOTAL SALESThere were 800 total sales thispast quarter compared to 465 total sales in Q1 2014. This tran..

MEDIAN SALES PRICEThe median sales price in theWilmington MSA this past quarterwas $220,000 compared to $21..


'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

10

20

30

40

17 17

20

10

20 20

14

2424

14

26

21

111113

2323 22

2525

9



PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 20792142,975173,161190,92914

% Change 46.91%15.10%19.20%27.38%31.42%-30.00%

2014 Q1 14180119,950135,935145,28020

% Change -32.79%-15.10%-2.08%1.89%3.44%42.86%

2013 Q1 21094122,500133,410140,45014

CONTRACTSWRITTEN

17-45.16%

3193.75%

16

TOTAL INVENTORYAt the end of this past quarter, total inventory levels were up___% compared to the end of Q1..


CONTRACTS WRITTENThere were ___ contracts writtenthis past quarter compared to ___in Q1 2014. This translates to a ..

MONTHS OF INVENTORYAt the end of this past quarter,there were ___ months of inven-tory available.

-30% $142,975 -5%

207 -45% 16

Market Snapshot

GILES COUNTY MARKET ANALYSIS First Quarter 2015

Market Snapshot

10% $105,000

141 10%

5%

12

'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

10

20

30

40

50

17

40

2828

20

30

1919

2426

16

41

21

31 3133

23

42

22 22

35



PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 14178105,000123,120137,46422


% Change 20.78%10.97%-5.19%0.57%6.17%10.00%

2014 Q1 11771110,750122,420129,48020

% Change 0.16%-16.89%-19.75%-17.25%-17.49%5.26%

2013 Q1 11685138,000147,942156,92119

CONTRACTSWRITTEN

3210.34%

29-6.45%

31

TOTAL SALESThere were 22 total sales this pastquarter compared to 20 total salesin Q1 2014. This translates to a10% year-over-year increase.


DAYS ON MARKETHomes sold this past quarter spentan average of 141 days on marketbefore being sold.

TOTAL INVENTORYAt the end of this past quarter, to-tal inventory levels were up 5% compared to the end of Q1 2014.



RADFORD CITY MARKET ANALYSIS First Quarter 2015

TOTAL SALESThere were 16 total sales this pastquarter compared to 18 total salesin Q1 2014. This translates to a11% year-over-year decrease.



'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

10

20

30

40

50

27 27

18 1820 20

28

39

19

34

1616

11

41

21

31

13

3335 35

15



PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 12581137,950129,769137,97816

% Change 2.95%-1.26%16.71%-1.27%1.60%-11.11%

2014 Q1 12282118,200131,444135,80318

% Change -3.40%13.10%-5.44%4.37%2.72%20.00%

2013 Q1 12672125,000125,940132,20715

CONTRACTSWRITTEN

2821.74%

234.55%

22


CONTRACTS WRITTENThere were 28 contracts writtenthis past quarter compared to 23in Q1 2014. This translates to a22% year-over-year increase.



-11% $137,950 -2%

125 22% 12

Market Snapshot

PULASKI COUNTY MARKET ANALYSIS First Quarter 2015

17%Market Snapshot

$118,500

126 22%

-7%

8

'10

Q1

'10

Q2

'10

Q3

'10

Q4

'11

Q1

'11

Q2

'11

Q3

'11

Q4

'12

Q1

'12

Q2

'12

Q3

'12

Q4

'13

Q1

'13

Q2

'13

Q3

'13

Q4

'14

Q1

'14

Q2

'14

Q3

'14

Q4

'15

Q1

0

20

40

60

80

100

47

68

80

48 495454 5454

41

71

61

71

41

31

53

33

52 5252 55




PRICEAVG. SALES

PRICEMEDIAN


ON MARKET2015 Q1 12677118,500134,481139,96161

% Change -4.87%8.52%6.28%17.34%16.05%17.31%

2014 Q1 13271111,500114,609120,60552

% Change 16.83%-6.21%6.19%-1.71%-1.21%26.83%

2013 Q1 11375105,000116,606122,08541

CONTRACTSWRITTEN

83

68

22.06%

54.55%44

TOTAL SALESThere were 61 total sales thispast quarter compared to 52 totalsales in Q1 2014. This translatesto a 17% year-over-year increase.






q1 2015 new river valley real estate nest report

Real Estate

end of q1

dayson market2015 q1

year sales trend total

yeartodate sales

past quarter spentan

yearoveryear increase

total inventoryat

total salesthere