2015 Nest Annual Report – New River Valley

Happy 2016 New River Valley! Each year as we prepare for the spring market, we first take a look back at the year that was in our local real estate market. We are proud to present the 2015 edition of the Nest Realty Annual Report. We know that you’re often inundated with real estate market data that can be difficult to decipher. Our goal at Nest is to provide you with local, relevant, easy-to-understand data to empower you to confidently make informed decisions when the time arrives.

After a down year in 2014, the New River Valley real estate market rebounded strongly in 2015. Total sales rose significantly compared to 2014 levels, achieving the highest sales levels in the last five years. It seems that strong buyer demand in conjunction with declining inventory levels helped to balance the market. The Town of Blacksburg, which experienced one of the largest year-over-year sales declines in 2014, saw one of the largest increases in total sales this past year. Median sales prices also rose in every major geographic region with the exception of Montgomery County. The decline in inventory levels experienced in 2015 will be an important metric to monitor in 2016 as this could put upward pressure on prices. To learn more about how the New River Valley market performed last year, take a look at the highlights below and read the full 2015 Nest Realty Annual Report HERE!

  • Total sales in the New River Valley MSA rose approximately 20%
  • Total volume in the Town of Blacksburg rose approximately 37.5%
  • Days on market dropped to an average of 100 days
  • Months of inventory dropped approximately 21.5% to 8.87 months

Have questions? Don’t hesitate to reach out directly to your Nest Broker to learn more.

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