NRV Real Estate News & Trends

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Jan. 15, 2020

2019 End of Year Market Update

As expected, it was another great year for sellers across the New River Valley.  Although most segments of our market saw a rise in the number of homes sold, the days on market continued to decrease due to high buyer demand.  A decline in interest rates contributed to this sustained demand and affordability rose for many buyers.

A competitive Blacksburg market led to a year over year increase in average sales price of $24,500, an 8.5% increase. The number of units sold increased by 11.6%. Christiansburg saw its own growth with an increase of units sold of 5.6% and average sales price increase of 3%. The City of Radford had a significant inventory issue this past year. The number of units sold decreased by 30% from 2018. As a result, the average sales price increased by 14%. The surrounding NRV market stayed consistent with a slight increase in number of units sold and 5.3% increase in average sold price.

According to industry experts, another year of low inventory lies ahead of us. We expect to see continued rising prices and a competitive market for buyers. If you have been considering selling your home, it is a great time to maximize your proceeds. Strategically planning your transition to a new property will be one of the more important factors in this decision process.

We are always happy to discuss your specific market or property in further detail. Contact us at your convenience!

2019 Market Statistics

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates