Happy 2015 New River Valley! We are excited to present the 2014 edition of the Nest Annual Report.
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. At Nest, we believe it is important that our clients be well-equipped to make confident, informed decisions when it comes to buying or selling a home. One of the ways we do this is by synthesizing vast amounts of data to provide you statistics and metrics that are relevant to you and our local market.
After several years of growth, the New River Valley real estate market saw a slight decline in performance in 2014. Sales levels declined in several major categories and median prices either stayed flat or saw a slight decline in most areas as well. Despite the fact that interest rates dropped when we expected them to rise, this didn’t seem to impact buyer demand in our market. Overall, though we saw a year-over-year decline in the market, performance was above the historical, five-year average. To learn more about how the New River Valley market performed last year, take a look at the highlights below and read the full 2014 Nest Realty Annual Report here!
- Total sales in the New River Valley MSA declined nearly 3.5%
- Total sales in the town of Christiansburg rose more than 12%
- Median sales price in Montgomery County increased 9%
Have questions? Don’t hesitate to reach out directly to your Nest Broker to learn more!