"

"#$ %&&'(%)*' $'+'),'

-./01/. 23/45671 )./0 8 9: ;<=: >6?@37A &0.B/1 CD401/
!"# %&'()*+(, -. /0123 *'4
5&678"94:;:( <):+" ='+)"*,", >&) ?*4:,&'@ A)*';" *'4 %68.".") %&6'(:",

E0../7167F G) 8 HI6J/5K/. =F ;<=:L 8 1he followlng analysls of Lhe CreaLer ÞledmonL Area houslng markeL has
been prepared by 8ealLsLaLe 8uslness lnLelllgence (88l) and ls based on 2013 quarLerly and year-Lo-daLe M8lS
mulLlple llsLlng servlce (MLS) houslng daLa.

ABCDB=CE
1here were 714 new conLracLs raLlfled ln C3 2013, a 17.4° lncrease over C3 2012 and ln llne wlLh Lhe seasonal
paLLerns as end of summer markeL acLlvlLy slows followlng Lhe sprlng and early summer peak. 1he LoLal number
of new conLracLs raLlfled exceeded boLh Lhe flve and Len year C3 averages by 33.0° and 32.7° respecLlvely
lndlcaLlng lncreaslng buyer demand ln Lhe CreaLer ÞledmonL area markeL.

ulsLressed properLles conLlnue Lo earn a smaller percenLage of new conLracLs ln Lhls markeL. Þendlng conLracLs
for foreclosures dropped 19.8° year-over-year, decreaslng from 86 ln C3 2012 Lo 69 ln C3 2013. ln addlLlon,
pendlng conLracLs on shorL sale properLles decreased 23.7°, falllng from 114 ln C3 2012 Lo 87 ln C3 2013.

Whlle Lhe CreaLer ÞledmonL markeL has lmproved ln splLe of Lhe ongolng federal budgeL sequesLer, consumer
anxleLy surroundlng Lhe CcLober federal governmenL shuLdown and conLlnued Congresslonal squabbllng over
ralslng Lhe naLlonal debL celllng and Lhe federal budgeL could all brlng negaLlve lmpacLs Lo Lhe local houslng
markeL's recovery ln Lhe monLhs ahead.

"#$ %&' ()*+,-. /0&-1 2&30,4+5 6,&17)-3 80&9 :)*-3,&+

2013 8ealLsLaLe 8uslness lnLelllgence, LLC. uaLa Source: M8lS. SLaLlsLlcs calculaLed 10/4/13

%FAGC5 GHFCG
uurlng Lhe Lhlrd quarLer of 2013, Lhe medlan sales prlce for properLles sold ln Lhe CreaLer ÞledmonL Area
showed an 8.6° year-over-year lncrease, rlslng Lo $238,300 from Lhe C3 2012 level of $238,000. Llkewlse, sold
dollar volume demonsLraLed a slgnlflcanL 33.4° lncrease from $132.3 mllllon ln C3 2012 Lo $203.3 mllllon Lhls
year. !anuary Lhrough SepLember year-Lo-daLe flgures also showed slgnlflcanL lncreases wlLh LoLal sold dollar
volume up 18° ($310 mllllon vs. $432 mllllon), LoLal unlLs sold up 16.3° (1,762 vs. 1,312) and uays on MarkeL
(uCM) down 13° (94 vs. 108).

All Residential
Q3-13 % Q-O-Q Q2-13 % Y-O-Y Q3-12
% Y-O-
2Y
Q3-11
% Y-O-
3Y
Q3-10
Average Sales Price (Closed) $305,667 8.6% $281,448 4.1% $293,509 18.0% $259,105 15.4% $264,887
Median Sales Price (Closed) $258,500 5.5% $244,950 8.6% $238,000 29.3% $200,000 19.1% $217,000
Units Sold (Closed) 665 8.3% 614 28.1% 519 38.0% 482 32.2% 503
Pending Sales (New) 714 -8.2% 778 17.4% 608 29.1% 553 27.7% 559
Average DOM (Closed) 88 -1.1% 89 -8.3% 96 -18.5% 108 -21.4% 112
Listing Discount (Average) 5.6% 5.4% 7.1% 10.1% 7.9%
Ratio Avg SP/Avg OLP 94.4% 94.6% 92.9% 89.9% 92.1%
Avg SP/Sq Ft $152 4.1% $146 7.0% $142 11.8% $136 16.9% $130
Detached
Q3-13 % Q-O-Q Q2-13 % Y-O-Y Q3-12
% Y-O-
2Y
Q3-11
% Y-O-
3Y
Q3-10
Average Sales Price (Closed) $318,827 9.4% $291,493 4.6% $304,795 19.8% $266,026 12.6% $283,106
Median Sales Price (Closed) $273,250 7.2% $255,000 9.3% $250,000 32.6% $206,000 18.8% $230,000
Units Sold (Closed) 610 8.5% 562 27.3% 479 34.4% 454 38.6% 440
Pending Sales (New) 650 -10.2% 724 15.2% 564 26.0% 516 31.6% 494
Average DOM (Closed) 94 1.1% 93 -6.0% 100 -12.1% 107 -23.6% 123
Listing Discount (Average) 5.9% 6.0% 7.3% 10.2% 8.6%
Ratio Avg SP/Avg OLP 94.1% 94.0% 92.7% 89.8% 91.4%
Avg SP/Sq Ft $155 4.7% $148 6.9% $145 11.5% $139 14.8% $135
Attached
Q3-13 % Q-O-Q Q2-13 % Y-O-Y Q3-12
% Y-O-
2Y
Q3-11
% Y-O-
3Y
Q3-10
Average Sales Price (Closed) $159,712 -7.6% $172,884 0.9% $158,360 8.7% $146,886 16.0% $137,647
Median Sales Price (Closed) $148,000 -5.1% $156,000 3.1% $143,500 18.4% $125,000 11.3% $133,000
Units Sold (Closed) 55 5.8% 52 37.5% 40 96.4% 28 -12.7% 63
Pending Sales (New) 64 18.5% 54 45.5% 44 73.0% 37 -1.5% 65
Average DOM (Closed) 21 -50.0% 42 -48.8% 41 -82.6% 121 -38.2% 34
Listing Discount (Average) 1.8% -0.6% 4.0% 7.7% 3.4%
Ratio Avg SP/Avg OLP 98.2% 100.6% 96.1% 92.4% 96.6%
Avg SP/Sq Ft $116 0.9% $115 3.6% $112 20.8% $96 20.8% $96
#
<D=%CG
#7 1M/ .3@/ 37 &043@67F #.07A/ 074 N?OD/D/. N6?713/@P 1he medlan sale prlce for all resldenLlal properLy Lypes
ln C3 2013 was $238,300, represenLlng an lncrease of 8.6° from C3 2012 level of $238,000. 1hls was Lhe hlghesL
Lhlrd quarLer level slnce C3 2007. ?ear-Lo-daLe 2013 medlan sale prlce ls $244,930, a 7.3° lncrease over Lhe
slmllar perlod ln 2012, whlch was $228,230. Madlson CounLy Lops Lhe llsL wlLh an lncrease of 19.7°, Crange
CounLy lncreased 18.1° and Culpeper CounLy lncreased 13.3° over Lhls Llme lasL year. 8appahannock CounLy
was Lhe only [urlsdlcLlon Lo see a decllne ln sales prlce. 1he smaller number of LransacLlons ln Lhls counLy makes
Lhls lndlcaLor more senslLlve Lo prlce swlngs.

2&1,9- ;9<&+ 60,4& =' >*0,+1,43,)- ? @0&93&0 6,&17)-3 80&9
&/4307 ,0O/ 2.3Q/ R/0. 16 (01/ &/4307 ,0O/ 2.3Q/
9: ;<=: 9: ;<=; R6R ;<=: ;<=; R6R
-./01/. 23/45671 )./0 S;TUFT<< S;:UF<<< VUPWX S;YYFZT< S;;UF;T< V[P:X
lauquler CounLy $322,000 $304,930 +3.6° $323,000 $283,000 +14.0°
Crange CounLy $204,000 $172,730 +18.1° $179,400 $163,000 +8.7°
Madlson CounLy $197,300 $163,000 +19.7° $180,330 $180,000 +0.3°
8appahannock CounLy $248,300 $287,300 -13.6° $290,000 $279,000 +3.9°
Culpeper CounLy $243,430 $214,900 +13.3° $220,000 $200,000 +10.0°

?HDICJ BCFA%=JK
uays on MarkeL (uCM), Lhe average number of days from when a llsLlng enLers Lhe markeL unLll lL obLalns a
raLlfled purchase conLracL, remalned flaL from Lhe second quarLer 2013 aL 88 days buL decllned 8.3° from Lhe
C3 2012 uCM of 96 days. 1hls ls Lhe lowesL level of 07\ ]?0.1/. @37Q/ 9: ;<<W. As held Lrue durlng Lhe flrsL slx
monLhs of Lhe year, Lhe conLlnulng decllne ln markeL Llme can be aLLrlbuLed Lo Lhe shorLage ln avallable
lnvenLory, penL-up buyer demand, and Lhe conLlnued affordablllLy of hlsLorlcally low morLgage raLes.

LCECD GCFFCD %A!%CGG=A!G
ln C3 2013, Lhe raLlo of average sold prlce Lo average orlglnal llsL prlce conLlnues Lo lncrease, currenLly aL 94.4°
(or a TPWX @/OO/. 43@Q6?71) and Lhe rlghL on LargeL wlLh Lhe flve and Len year C3 average raLlos of 94.4° and
94.3° respecLlvely. 1hls lndlcaLes sellers conLlnue Lo reLaln more bargalnlng power, evldence of LlghL lnvenLory
and less pressure for seller concesslons. lor reference, Lwo years ago ln C3 2011, seller dlscounLs averaged
more Lhan 10° of Lhe orlglnal llsL prlce.

H7&6( (M" <:"4N&'( H)"* O&6,:'; ?*)P"( -.4*("
1he ÞledmonL Area Pouslng MarkeL updaLe provldes unlque lnslghLs lnLo Lhe sLaLe of Lhe currenL houslng
markeL by measurlng Lhe number of new pendlng sales, Lrends by home characLerlsLlcs, and key lndlcaLors
Lhrough Lhe year complled dlrecLly from MulLlple LlsLlng Servlce (MLS) daLa ln 88l's proprleLary daLabase. 1he
CreaLer ÞledmonL Area houslng markeL lncludes Lhe 1own of Culpeper, lauquler, Crange, Madlson and
8appahannock CounLles locaLed ln Lhe ÞledmonL area of vlrglnla.

H7&6( D"*8C,(*(" Q6,:'",, ='("88:;"'+"@ FF%
8ealLsLaLe 8uslness lnLelllgence, LLC (88l) ls a prlmary source of real esLaLe daLa, analyLlcs and buslness
lnLelllgence for real esLaLe professlonals wlLh buslness lnLeresLs ln Lhe Mld-ALlanLlc reglon. 88l ls Lhe only
company ln Lhe Mld-ALlanLlc reglon LhaL provldes Llmely, onllne access Lo sLaLlsLlcal lnformaLlon dlrecLly from
Lhe M8lS MulLlple LlsLlng Servlce (MLS). vlslL rblnLel.com or www.facebook.com/rblnLel Lo learn more.

###
lor furLher lnformaLlon please conLacL:
uebble Werllng, uebble[gpaar.neL
(340) 347-4688

Sign up to vote on this title
UsefulNot useful