MA ARCHIVED February 2016 | Page 72

Rappahannock

MARKET ACTION REPORT
MARKET
ACTION REPORT
County: Rappahannock

County: Rappahannock

February 2016
February 2016

Agent Name

Title
Agent
Phone Name
Title
Website
Other
Phone
Website
Trending versus*:
Other

Community Information

Price Range: All | Properties: SFH - Condo

Price Range: All | Properties: SFH - Condo

Market Profile & Trends Overview

Month

LM

L3M PYM

Trending versus*:
LY

YTD

Prior YTD

Prior Year

Trending versus*:
Trending versus*:
$442,250 1%
Median List Price of all Current Listings
5%
LY
Market
Profile
Overview
Month LM
YTD Prior YTD Prior Year
$770,356
Average List
Price of&
allTrends
Current Listings
5% L3M PYM
4%
$442,250
Median
List
Price
of
all
Current
Listings
1%
5%
$508,500
$552,500
February Median Sales Price
-14% 45% 110% 51%
63%
64%
$770,356
Average
List
Price of
all Current
5% 11% 65%
4% 24%
$481,750 -19%
$509,250
February
Average
Sales
Price Listings
32%
32%
$508,500
$552,500
February
Median Currently
Sales Price
63%
64%
72 -14%
Total Properties
for Sale (Inventory)
-3% 45% 110%
-8% 51%
$481,750
$509,250
February
Average
Sales
Price
-19%
11%
65%
24%
32%
32%
6 200%
8
February Number of Properties Sold
-25%
-33%
72
Total
Properties
Currently
Sale (Inventory)
-3% -35% -33%
-8% -39%
76 -78%
144
February
Average
Days onfor
Market
(Solds)
12%
16%
6 200%
February
Number
of Properties
Sold on New Listings)
-33%
$197
$1948
Asking Price
per Square
Foot (based
6%
-8% -25%
23% -11%
14%
-12%
76 -78%
144
February
Days
Market
(Solds)
-39%
12%
16%
$129
$156
FebruaryAverage
Sold Price
peron
Square
Foot
-34% -35%
-30% -33%
1% -27%
3%
-12%
$197
$194
12.0 -68%
24.5
Asking
Price
per Square
Foot
(based on New Listings)
6% -41%
-8% 23% -26%
-11%
14%
-12%
February
Month's
Supply
of Inventory
63%
52%
$129 -3.5%
$156 1.9%
95.2%
96.3%
February
Square
-34% -1.2%
-30% 1.1%
1% -27%
3%
-12%
FebruarySold
SalePrice
Priceper
vs List
PriceFoot
Ratio
.9%
2.0%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2015) / YTD = Year-to-date12.0
| Arrows indicate if Month / YTD values are higher (up), lower (down) or24.5
unchanged (flat)
February
Month's Supply of Inventory
-68% -41% 23% -26%
63%
52%
of Properties
95.2% -3.5% -1.2% Number
96.3% Sold
February Sale Price vs List Price Ratio
1.1%
.9%
1.9%
2.0%3 Mo Avg

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2015) 16
/ YTD = Year-to-date | Arrows indicate if Month / YTD values are higher (up), lower (down) or unchanged (flat)

2
0

Prices

The Median Sales Price in February was $508,500,
up 110.1% from $242,000 in February of 2015 and
Prices
down 14.1% from $591,750 last month. The
The Median Sales Price in February was $508,500,
Average Sales Price in February was $481,750, up
up 110.1% from $242,000 in February of 2015 and
65.4% from $291,275 in February of 2015 and down
down 14.1% from $591,750 last month. The
18.6% from $591,750 last month. February 2016
Average Sales Price in February was $481,750, up
ASP was at the highest level compared to February
65.4% from $291,275 in February of 2015 and down
of 2015 and 2014.
18.6% from $591,750 last month. February 2016
ASP was at the highest level compared to February
of 2015 and 2014.

Inventory & MSI

Number of Properties Sold

3 Mo Avg

6
4
5
7
10
5
9
6
7
3
8
3
2
8
7
11
12
8
8
5
2
8
4
8
6
6
9
5
3
8
6
14
6
7
2
6

14
12
16
10
14
128
106
84
62
40

M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F
13
14
15
16

6
4
5
7
10
5
9
6
7
3
8
3
2
8
7
11
12
8
8
5
2
8
4
8
6
6
9
5
3
8
6
14
6
7
2
6

Property Sales

February Property sales were 6, down 25.0% from 8
in FebruarySales
of 2015 and 200.0% higher than the 2
Property
sales lastProperty
month. February
sales25.0%
were atfrom
a mid
February
sales were2016
6, down
8
level
compared
to
February
of
2015
and
2014.
in February of 2015 and 200.0% higher than the 2
February
YTD sales
of 8 are2016
running
behind
sales
last month.
February
sales33.3%
were at
a mid
last year's year-to-date sales of 12.
level compared to February of 2015 and 2014.
February YTD sales of 8 are running 33.3% behind
last year's year-to-date sales of 12.

M A M J J Median
A S O N D
J F M
A M and
J J AAverage
S O N D Sales
J F M Price
A M J J A S O N D J F
Sales
Price
14
15
16
3 Mo Avg
Median means Middle (the same # of properties sold above and below the Median)

(000's)
13

1,100
1,000
Median Sales Price and Average Sales Price
900
(000's)
3 Mo Avg
Median means Middle (the same # of properties sold above and below the Median)
1,100
800
1,000
700
900
600
800
500
700
400
600
300
500
200
400
100
300 M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F
14
15
16
200 13
100

M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F
Total Inventory
& Month's Supply
of Inventory (MSI) 16
13
14
15
MSI is the # of month's needed to sell all of the Inventory at the monthly Sales Pace

82

98
103
105
110
110
112
108
105

82

98
103
105
110
110
112
108
105

87
87
83
83
84
84
86
86
100
100
93
93
92
92
97
97
108
108
113
113
119
119
105
105
91
91
81
81
78
78
85
85
102
102
103
103
109
109
101
101
105
105
103
103
101
101
96
96
87
87
74
74
72
72

140
The Total Inventory of Properties available for sale as of
Total Inventory & Month's Supply of Inventory (MSI)
February was 72, down 2.7% from 74 last month and
120
Inventory
& MSI
MSI is the # of month's needed to sell all of the Inventory at the monthly Sales Pace
down 7.7% from
78 in February of last year. February
140
The
Total
Inventory
available
for sale
as of
100
2016
Inventory
wasof
atProperties
its lowest level
compared
with
February
72, down
2.7% from 74 last month and
Februarywas
of 2015
and 2014.
120
80
down 7.7% from 78 in February of last year. February
100
60
2016 Inventory was at its lowest level compared with
February
of 2015 and
2014.
A comparatively
lower
MSI is more beneficial for sellers
80
40
while a higher MSI is better for buyers. The February
60
20
2016 MSI of 12.0 months was at a mid level compared
Awith
comparatively
more beneficial for sellers
February oflower
2015MSI
and is
2014.
400
while a higher MSI is better for buyers. The February
M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F
20 13
2016 MSI of 12.0 months was at a mid level compared
14
15
16
with
February
of 2015
and| Price
2014.Range: All | Property Types: SFH - Condo
Copyright
© Coldwell
Banker
0

Data is provided courtesy of Metropolitan Regional Information Services Incorporated, The Coastal Association
of Realtors
Banker
M A Mof JRealtors
J AMLS
S and
O Sussex
N D County
J F M
A M MLS
J JandAmay
S not
O reflect
N DallJrelevant
F Mreal
A estate
M Jactivity.
J A Coldwell
S O N
D J F
does not warrant or guarantee the accuracy of this information. It is the responsibility of any buyer or seller
13 to verify any and all information relevant
14 to such consumer’s real estate transaction.
15
16

Copyright © Coldwell Banker | Price Range: All | Property Types: SFH - Condo

Data is provided
Metropolitan
72
| ccourtesy
o l dofw
e l l bRegional
a n kInformation
e r h oServices
m e sIncorporated,
. c o mThe Coastal Association of Realtors MLS and Sussex County of Realtors MLS and may not reflect all relevant real estate activity. Coldwell Banker
does not warrant or guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

60
50
60
40
50
30
40
20

30
10
20
0
10
0