how’s the market? - realcentralva.com · 2014. 10. 14. · albemarle market analysis third...

14
HOW’S THE MARKET? Albemarle County City of Charlottesville Fluvanna County Greene County Louisa County Nelson County THIRD QUARTER 2014 NEST REPORT

Upload: others

Post on 16-Feb-2021

1 views

Category:

Documents


0 download

TRANSCRIPT

  • HOW’S THE MARKET?

    Albemarle County

    City of Charlottesville

    Fluvanna County

    Greene County

    Louisa County

    Nelson County

    THIRD QUARTER 2014 NEST REPORT

  • '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

    200

    400

    600

    800

    1000 930

    525

    619

    891

    537

    639

    820

    515525

    759

    432503

    857

    388

    584

    827894

    722

    610594

    744

    Five Year Sales Trend (Total Sales)

    CHARLOTTESVILLE MSA MARKET ANALYSIS Third Quarter 2014

    -7% $290,000 11%

    84 7% 13

    TOTAL SALESThere were 827 total sales thispast quarter compared to 894 inQ3 2013. This translates to a 7%year-over-year decrease.

    MEDIAN SALES PRICEThe median sales price in the Charlottesville MSA this past quarter was $290,000 comparedto $268,000 in Q3 2013.

    TOTAL INVENTORYAt the end of this past quarter, inventory levels were up 11%compared to the end of Q3 2013.

    DAYS ON MARKETHomes sold in the CharlottesvilleMSA this past quarter spent an average of 84 days on market before being sold.

    CONTRACTS WRITTENThere were 792 contracts writtenthis past quarter compared to 743in Q3 2013. This translates to a 7%year-over-year increase.

    MONTHS OF INVENTORYAt the end of this past quarter,there were 13 months of inventoryavailable in the Charlottesville MSA.

    Market Snapshot

    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

    150K

    200K

    250K

    300K

    350K

    400K

    450K 419,827

    345,771351,500

    288,775

    331,758331,181

    330,373

    329,589

    356,997

    358,892

    316,704

    372,449

    270,000273,450

    306,500

    275,000

    260,970

    234,500

    280,000280,985

    256,000240,000 241,750

    285,000

    291,000

    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

    280,985

    345,771

    306,500

    356,997

    285,000

    358,892

    291,000

    372,449

    280,000

    323,529

    256,000

    316,704

    241,750

    330,373

    234,500

    288,775

    240,000

    351,500

    270,000

    329,589

    273,450

    419,827

    275,000

    331,181

    260,970

    331,758Average Median

  • TOTAL SALES AVG. LISTPRICEAVG. SALES

    PRICEMEDIAN

    SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 76152315,000385,196399,538650% Change -8.70%6.25%7.51%7.44%7.21%-0.46%

    2013 Q3 83143293,000358,516372,677653

    % Change -21.86%8.17%9.64%0.78%-5.83%20.04%

    2012 Q3 107132267,250355,754395,750544SIN

    GLE

    FA

    MIL

    Y CHARLOTTESVILLE MSA MARKET ANALYSIS Third Quarter 2014

    TOTAL SALESAVG. LIST

    PRICEAVG. SALES

    PRICEMEDIAN

    SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 96139245,000267,280268,675109

    % Change 25.24%1.23%0.20%4.44%3.57%-33.54%

    2013 Q3 76138244,500255,911259,403164

    % Change -16.67%5.63%14.52%9.57%8.90%67.35%

    2012 Q3 92130213,500233,562238,20698

    AT

    TA

    CH

    ED

    TOTAL SALESAVG. LIST

    PRICEAVG. SALES

    PRICEMEDIAN

    SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 134166156,000206,982216,20768

    % Change 28.11%0.54%-8.24%10.92%11.05%-11.69%

    2013 Q3 105165170,000186,597194,68577

    % Change -0.89%10.33%14.48%4.29%3.58%-3.75%

    2012 Q3 106150148,500178,926187,96580

    CO

    ND

    O

    2012 2013 2014

    1,550 1,7781,753

    289 388 334

    170218181

    Year-to-Date Sales by Property Type

    Quarterly Performance & Yearly Growth

    Attached Condominiums Detached

    CONTRACTSWRITTEN

    617

    10.57%

    558

    13.18%

    493

    CONTRACTSWRITTEN

    106

    -7.83%

    115

    7.48%

    107

    CONTRACTSWRITTEN

    69

    -1.43%

    -4.11%

    70

    73

  • CHARLOTTESVILLE MSA MARKET ANALYSIS Third Quarter 2014

    September 2014

    INVENTORYMONTHS OFINVENTORY

    August 2014

    INVENTORYMONTHS OFINVENTORY

    September 2013

    INVENTORYMONTHS OFINVENTORY

    Single Family

    Attached

    Condo

    All 34.02

    9.78

    10.59

    13.65

    2,520

    225

    233

    2,062

    29.94

    13.00

    7.08

    9.86

    2,497

    234

    241

    2,022

    21.28

    8.76

    3.92

    8.60

    1,937

    184

    212

    1,541

    Inventory Levels & Months of Inventory

    3 KEY TAKEAWAYS 1. Total sales in Q3 2014 were off 7% year-over-year. After a quick start to 2014, overall sales are off2% year-to-date as compared to 2013. 2. The combination of lower sales numbers and an 11% year-over-year bump in inventory levels has resulted in the Months of Inventory levels to rise to almost 13 months. Based on these numbers, we areleaning towards a 'Buyer's Market' again. 3. We have seen a steady rise in median prices over the last 7 months. Even though prices dipped slightly from last month, year-over-year median prices are up approximately 7.5%.

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

    1500

    1750

    2000

    2250

    2500

    2750

    3000

    Four Year Historical Inventory

    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

    2062,073

    2432,307

    3312,521

    4032,638

    3722,639

    3712,707

    4472,789

    5392,824

    5672,747

    6482,612

    4502,372

    4622,291

    2121,822

    3041,997

    3352,111

    3782,241

    3512,248

    3772,341

    4112,380

    4922,435

    6032,408

    5632,272

    4492,141

    4002,059

    2941,968

    2452,087

    3882,248

    4132,275

    4502,287

    4382,280

    4282,333

    5272,359

    6132,314

    5732,232

    5642,084

    4331,881

    3812,520

    4242,497

    4402,633

    4782,686

    5502,678

    6552,424

    6562,230

    4272,031

    3511,969

    12.85 9.68 8.96

  • -5%

    ALBEMARLE MARKET ANALYSIS Third Quarter 2014

    $336,680

    81 15%

    8%

    12

    TOTAL SALESThere were 408 total sales thispast quarter compared to 431 in Q32013. This translates to a 5% decrease on a year-over-year basis.

    MEDIAN SALES PRICEThe median sales price was$336,680 this past quarter com-pared to $315,000 in Q3 2013.

    TOTAL INVENTORYAt the end of this past quarter, totalinventory levels were up 8% com-pard to the end of Q3 2013.

    DAYS ON MARKETHomes sold this past quarter spentan average of 81 days on market before being sold.

    CONTRACTS WRITTENThere were 382 contracts writtenthis past quarter compared to 332in Q3 2013. This translates to a 15%increase on a year-over-year basis.

    MONTHS OF INVENTORYAt the end of this past quarter,there were 12 months of inventory available.

    '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

    200

    400

    600

    408

    490466

    249

    438

    220

    298286

    422389

    254229

    362

    256

    356

    272237

    199

    431

    212172

    Five Year Sales Trend (Total Sales)

    0% 25% 50% 75% 100%

    2014Q3

    2014Q2

    2014Q1

    2013Q4

    2013Q3

    40%

    44%

    43%

    47%

    26% 39%

    22%

    22%

    22%

    10%

    10%

    19%

    21%

    21%

    17%

    17%

    17%

    8%

    8%

    8%

    8%

    8% 6%

    11%

    7%

    Sales by Price Range

    Market Snapshot

    0-199,999 200K-399,999 400K-599,999 600K-799,999 800K+

  • ALBEMARLE MARKET ANALYSIS Third Quarter 2014

    TOTAL SALESAVG. LIST

    PRICEAVG. SOLD

    PRICEMEDIAN SOLD

    PRICE AVG. $/SQFTAVG. DAYSON MARKET

    2014 Q3 70166400,000500,155518,657290

    % Change -0.50%4.42%-1.34%3.56%3.45%6.23%

    2013 Q3 70159405,431482,984501,366273% Change -29.49%7.64%18.54%-3.79%-13.36%17.67%

    2012 Q3 100147342,032502,021578,662232

    TOTAL SALESAVG. LIST

    PRICEAVG. SOLD

    PRICEMEDIAN SOLD

    PRICE AVG. $/SQFTAVG. DAYSON MARKET

    2014 Q3 102143269,650280,545280,88486

    % Change 25.76%1.91%12.40%6.67%5.64%-32.28%

    2013 Q3 81140239,900263,004265,881127

    % Change -10.01%6.12%10.84%8.05%7.29%51.19%

    2012 Q3 91132216,433243,412247,82184

    TOTAL SALESAVG. LIST

    PRICEAVG. SOLD

    PRICEMEDIAN SOLD

    PRICE AVG. $/SQFTAVG. DAYSON MARKET

    2014 Q3 127133145,500190,141199,42232

    % Change 6.09%6.16%26.52%21.94%23.36%3.23%

    2013 Q3 120125115,000155,935161,66231

    % Change 62.26%-3.26%-4.56%-7.01%-8.94%-22.50%

    2012 Q3 74129120,500167,695177,54040

    2012 2013 2014

    240 280306

    676 759752

    6899 71

    Year-to-Date Sales by Property Type

    Attached Condominiums Detached

    Quarterly Performance & Yearly Growth

    SIN

    GLE

    FA

    MIL

    YA

    TT

    AC

    HE

    DC

    ON

    DO

    CONTRACTSWRITTEN

    264

    23.36%

    214

    17.58%

    182

    CONTRACTSWRITTEN

    86

    -9.47%

    95

    0.00%

    95

    CONTRACTSWRITTEN

    32

    39.13%

    23

    -34.29%

    35

  • ALBEMARLE MARKET ANALYSIS Third Quarter 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

    94920

    1021,015

    1431,107

    1731,139

    1741,137

    1801,158

    1891,184

    2361,208

    2641,195

    3171,132

    215994

    199940

    108789

    117870

    142922

    178980

    158973

    1591,024

    1951,058

    2251,089

    2951,095

    2821,007

    206946

    185913

    132835

    96891

    165970

    187988

    1951,003

    193993

    1921,008

    2311,037

    2921,029

    2921,002

    259922

    192822

    1741,066

    1911,059

    2021,042

    2261,169

    2461,231

    3051,069

    316983

    221873

    158829

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

    700

    800

    900

    1000

    1100

    1200

    1300

    Four Year Inventory History

    2011 2012 2013 2014

    3 KEY TAKEAWAYS 1. After near record sales numbers in Q2, total year-over-year sales dipped by 5% in Albemarle County.Single family homes (+6%) and condos (+3%) were positive, but attached home sales dropped significantly (-32%). 2. While year-over-year inventory levels increased by 8%, new listings to the market in Q3 were actuallydown from the same time in 2013. This could lead to lower levels moving forward. 3. Median sales prices in Albemarle County increased 7% from Q3 2013 to $336,680. Surprisingly, single-family home median prices fell slightly while attached and condos both saw increases from Q3 2013.

    September 2014

    INVENTORYMONTHS OFINVENTORY

    August 2014

    INVENTORYMONTHS OFINVENTORY

    September 2013

    INVENTORYMONTHS OFINVENTORY

    Single Family

    Attached

    Condo

    ALL 34.06

    10.75

    10.12

    13.19

    1,066

    86

    162

    818

    22.47

    9.10

    5.31

    8.06

    1,059

    91

    170

    798

    19.52

    7.14

    3.41

    8.97

    817

    50

    157

    610

    Inventory Levels & Months of Inventory

    11.38 7.42 8.13

  • '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

    50

    100

    150

    200

    100109

    160148146 145

    136

    165172

    133

    175

    696776

    121113

    57

    91 91 91

    71

    Five Year Sales Trend (Total Sales)

    TOTAL SALESThere were 148 total sales thispast quarter compared to 160 totalsales in Q3 2013 representing a 8%drop on a year-over-year basis.

    MEDIAN SALES PRICEThe median sales price was$269,250 this past quarter com-pared to $257,050 in Q3 2013.

    DAYS ON MARKETHomes sold this past quarter spentan average of 57 days on marketbefore being sold.

    CONTRACTS WRITTENThere were 119 contracts writtenthis past quarter compared to 119 inQ3 2013. This translates to a 0%year-over-year increase.

    CITY OF CHARLOTTESVILLE MARKET ANALYSIS Third Quarter 2014

    0% 25% 50% 75% 100%

    2014Q3

    2014Q2

    2014Q1

    2013Q4

    2013Q3 27%

    29%

    33%

    16%

    22%

    57%

    53%

    44%

    63%

    56%

    12%

    13%

    14%

    13%

    16%

    3%

    2%

    8%

    5%

    3%

    1%

    3%

    1%

    3%

    2%

    Sales by Price Range

    0-199,999 200-399,999K 400-599,999K 600-799,999K 800K+

    -8% $269,250 18%TOTAL INVENTORYAt the end of this past quarter, to-tal inventory levels were up 18%compared to the end of Q3 2013.

    MONTHS OF INVENTORYAt the end of this past quarterthere were 9 months of inventory available.

    57 0% 9

    Market Snapshot

    FLAT

  • CITY OF CHARLOTTESVILLE MARKET ANALYSIS Third Quarter 2014

    TOTAL SALESAVG. LIST

    PRICEAVG. SALES

    PRICEMEDIAN

    SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 45181306,000353,136366,331108% Change -13.02%3.48%2.68%7.29%6.94%9.09%

    2013 Q3 52175298,000329,148342,54499

    TOTAL SALESAVG. LIST

    PRICEAVG. SALES

    PRICEMEDIAN

    SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 72133180,000209,516215,03719

    % Change 46.23%-0.08%-26.23%-5.89%-5.40%-34.48%

    2013 Q3 49133244,000222,640227,30029

    TOTAL SALESAVG. LIST

    PRICEAVG. SALES

    PRICEMEDIAN

    SALES PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 104235195,000264,745272,83321

    % Change 145.15%8.90%-8.67%15.90%14.95%-34.38%

    2013 Q3 43216213,500228,422237,35532

    % Change -42.91%12.41%11.92%10.28%8.76%2.06%

    2012 Q3 91156266,250298,453314,95697

    % Change -53.25%11.53%40.23%31.18%27.61%163.64%

    2012 Q3 106119174,000169,722178,11811

    % Change -47.71%21.77%18.61%18.39%19.58%28.00%

    2012 Q3 81178180,000192,936198,48825

    SIN

    GLE

    FA

    MIL

    YA

    TT

    AC

    HE

    DC

    ON

    DO

    2012 2013 2014

    308

    276277

    46

    85

    65

    6527

    57

    Year to Date Sales by Property Type

    Attached Condominiums Detached

    Quarterly Performance & Yearly Growth

    CONTRACTSWRITTEN

    83

    7.79%

    77

    -10.47%

    86

    CONTRACTSWRITTEN

    20

    -23.08%

    26

    73.33%

    15

    CONTRACTSWRITTEN

    16

    0.00%

    16

    128.57%

    7

  • September 2014

    TOTALINVENTORY

    MONTHS OFINVENTORY

    August 2014

    TOTALINVENTORY

    MONTHS OFINVENTORY

    September 2013

    TOTALINVENTORY

    MONTHS OFINVENTORY

    Single Family

    Attached

    Condo

    All 23.09

    4.00

    6.83

    12.26

    257

    32

    41

    184

    34.30

    9.75

    20.00

    4.55

    252

    39

    40

    173

    15.35

    3.60

    4.33

    7.42

    203

    36

    26

    141

    Inventory Levels & Months of Inventory

    CITY OF CHARLOTTESVILLE MARET ANALYSIS Third Quarter 2014

    3 KEY TAKEAWAYS 1. After Q3 sales increasing for 3 straight years, Q3 2014 sales were off 8% from 2013. With contractswritten being flat in Q3, we would expect sales in Q4 to be slightly off from 2013 totals. 2. Median prices in the City of Charlottesville are up a modest 4.5% year-over-year. In addition, year-to-date sales are essentially flat from 2013. 3. Inventory levels have increased fairly dramatically in the City (+18%). This is likely a result in softerdemand, as well as increased new home construction within the City limits. With several other new Citydevelopments starting soon, City inventory could continue to rise.

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

    100

    150

    200

    250

    300

    350

    400

    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

    20226

    26253

    39288

    59310

    58306

    52321

    74349

    70367

    94376

    115349

    73301

    59275

    18159

    40190

    41199

    54223

    44228

    45244

    52260

    73266

    89278

    99284

    91255

    60218

    40166

    26186

    69220

    59217

    56208

    61213

    62222

    91234

    106234

    92204

    85193

    55157

    48257

    42252

    66263

    75319

    77327

    94282

    140250

    60187

    47174

    8.56 5.72 6.31

  • FLUVANNA COUNTY MARKET ANALYSIS Second Quarter 2014

    -16% $188,500

    74 -7% 16

    TOTAL SALESThere were 86 total sales this pastquarter compared to 102 totalsales in Q3 2013. This translates toa 16% year-over-year decrease.

    MEDIAN SALES PRICEThe median sales price this pastquarter was $188,500 compared to$186,250 in Q3 2013.

    TOTAL INVENTORYAt the end of this past quarter, to-tal inventory levels were up 13%compared to the end of Q3 2013.

    DAYS ON MARKETHomes sold this past quarter spentan average of 74 days on marketbefore being sold.

    CONTRACTS WRITTENThere were 97 contracts writtenthis past quarter compared to 104in Q3 2013. This translates to a 7%year-over-year decrease.

    MONTHS OF INVENTORYAt the end of this past quarter,there were 16 months of inventory available.

    '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

    120

    106102

    44

    9086

    66

    99

    7074

    78

    87

    7883

    73

    57

    7581 81

    91

    111

    71

    Five Year Sales Trend (Total Sales)

    TOTAL SALESAVG. LIST

    PRICEAVG. SOLD

    PRICEMEDIAN SOLD

    PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 74104188,500227,709236,12286

    % Change -21.57%0.30%1.21%0.19%-0.21%-15.69%

    2013 Q3 94103186,250227,279236,614102

    % Change -16.95%4.75%6.43%18.37%16.94%13.33%

    2012 Q3 11399175,000192,005202,34290

    13%

    Market Snapshot

    Quarterly Performance & Yearly Growth

    CONTRACTSWRITTEN

    97

    -6.73%

    104

    26.83%

    82

  • GREENE COUNTY MARKET ANALYSIS Second Quarter 2014

    14%TOTAL SALESThere were 73 total sales this pastquarter compared to 64 in Q32013. This translates to a 14% year-over-year increase.

    $217,500MEDIAN SALES PRICEThe median sales price was$217,500 this past quarter com-pared to $214,000 in Q3 2013.

    125DAYS ON MARKETHomes sold this past quarter spentan average of 125 days on market before being sold.

    21%CONTRACTS WRITTENThere were 64 contracts writtenthis past quarter compared to 53 inQ3 2013. This translates to a 21%year-over-year increase.

    '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

    64

    48 49 49

    69

    43

    54 54

    38

    6763

    5659 59

    32

    37

    73

    5753 5351

    Five Year Sales Trend (Total Sales)

    TOTAL SALESAVG. LIST

    PRICEAVG. SOLD

    PRICEMEDIAN SOLD

    PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 125118217,500247,313252,96273

    % Change 25.97%4.58%1.64%9.86%9.16%14.06%

    2013 Q3 99112214,000225,123231,72864

    % Change -21.74%3.32%-16.08%-11.09%-13.04%20.75%2012 Q3 127109255,000253,213266,46853

    -3%TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down3% compared to the end of Q3 2013.

    15MONTHS OF INVENTORYAt the end of this past quarter,there were 15 months of inventory available.

    Market Snapshot

    Quarterly Performance & Yearly Growth

    CONTRACTSWRITTEN

    64

    20.75%

    53

    -29.33%

    75

  • LOUISA COUNTY MARKET ANALYSIS Third Quarter 2014

    -3%TOTAL SALESThere were 61 total sales this pastquarter compared to 63 in Q3 2013.This translates to a 3% year-over-year decrease.

    $235,000MEDIAN SALES PRICEThe median sales price this pastquarter was $235,000 comparedto $194,000 in Q3 2013.

    73DAYS ON MARKETHomes sold this past quarter spentan average of 87 days on marketbefore being sold.

    28%CONTRACTS WRITTENThere were 73 contracts writtenthis past quarter compared to 57 inQ3 2013. This translates to a 28%year-over-year increase.

    '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

    4444 444849

    68

    30 30

    47 4743

    62

    29

    6358 59

    2733

    57

    41

    61

    Five Year Sales Trend (Total Sales)

    TOTAL SALESAVG. LIST

    PRICEAVG. SOLD

    PRICEMEDIAN SOLD

    PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 73118235,000277,263285,38361

    % Change -7.49%11.46%21.13%15.62%17.02%-3.17%

    2013 Q3 79106194,000239,797243,88363

    % Change -9.26%10.91%9.30%24.15%24.70%43.18%

    2012 Q3 8796177,500193,144195,57544

    16%TOTAL INVENTORYAt the end of this past quarter,total inventory levels were up16% compared to the end of Q3 2013.

    11MONTHS OF INVENTORYAt the end of this past quarter,there were 11 months of inventory available.

    Market Snapshot

    Quarterly Performance & Yearly Growth

    CONTRACTSWRITTEN

    73

    28.07%

    57

    54.05%

    37

  • NELSON COUNTY MARKET ANALYSIS Third Quarter 2014

    -31%

    Market Snapshot

    $290,000

    148 -23%

    TOTAL SALESThere were 51 total sales this pastquarter compared to 74 total salesin Q3 2013. This translates to a 31%year-over-year decrease.

    MEDIAN SALES PRICEThe median sales price was$290,000 this past quarter compared to a median price of$282,750 in Q3 2013.

    DAYS ON MARKETHomes sold this quarter spent anaverage of 148 days on market before being sold.

    CONTRACTS WRITTENThere were a total of 60 contractswritten this past quarter comparedto 78 in Q3 2013. This translates toa 23% year-over-year decrease.

    '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

    4448

    64

    46 46 46

    74

    43

    54

    45 45 45

    63

    39

    27

    52

    37

    57

    35

    5751

    Five Year Sales Trend (Total Sales)

    TOTAL SALESAVG. LIST

    PRICEAVG. SOLD

    PRICEMEDIAN SOLD

    PRICE AVG. $/SQ.FT.AVG. DAYSON MARKET

    2014 Q3 148147290,000315,687336,84551

    % Change -15.58%9.54%2.56%9.63%9.27%-31.08%

    2013 Q3 176134282,750287,961308,25674

    % Change -10.90%-7.27%10.88%7.95%8.33%60.87%

    2012 Q3 197144255,000266,751284,56246

    19%TOTAL INVENTORYAt the end of this past quarter, total inventory levels were down19% compared to the end of Q3 2013.

    17MONTHS OF INVENTORYAt the end of this past quarter,there were 17 months of inventory available.

    Quarterly Performance & Yearly Growth

    CONTRACTSWRITTEN

    60

    -23.08%

    78

    32.20%

    59