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


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


September 2014

INVENTORYMONTHS OFINVENTORY

August 2014


September 2013


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


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


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


PRICEAVG. SALES

PRICEMEDIAN


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


PRICEAVG. SALES

PRICEMEDIAN


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


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


100

120

140

160

180

200

220


2011 2012 2013 2014

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 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


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+




PRICEAVG. SALES

PRICEMEDIAN


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


PRICEAVG. SALES

PRICEMEDIAN


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


PRICEAVG. SALES

PRICEMEDIAN


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


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


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



0

50

100

150

200

250


2011 2012 2013 2014

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

New Listings2012 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.


'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



PRICEAVG. SALES

PRICEMEDIAN


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.


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



PRICEAVG. SALES

PRICEMEDIAN


2014 Q3 12777110,000127,910132,88941


% 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.



CONTRACTS WRITTENThere were a total of 32 contractswritten this past quarter comparedto 42 in Q3 2013. This translates toa 24% year-over-year decrease.


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


MEDIAN SALES PRICEThe median sales price this pastquarter was $229,000 comparedto $205,000 in Q3 2013.



PRICEAVG. SALES

PRICEMEDIAN


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.


CONTRACTS WRITTENThere were a total of 55 contractswritten this past quarter comparedto 62 in Q3 2013. This translates toa 11% year-over-year drop.


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




PRICEAVG. SALES

PRICEMEDIAN


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.


CONTRACTS WRITTENThere were a total of 78 contractswritten this past quarter comparedto 59 in Q3 2013. This translates toa 32% year-over-year increase.


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.


'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



PRICEAVG. SALES

PRICEMEDIAN


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


CONTRACTS WRITTENThere were a total of 23 contractswritten this past quarter comparedto 34 in Q3 2013. This translates toa 32% year-over-year decrease.



-20% $169,800 -14%

60 -32% 5

Market Snapshot

Real Estate

2014 Q3 Nest Report