2019 is now more than halfway over and we are excited to release our 2019 New River Valley Mid-Year Market Report. Understanding what’s going on in the market allows us to equip our clients to make confident, informed decisions. It also gives us an idea of what the future holds.
Overall, total sales in the New River Valley area real estate market continue to decrease even as prices and inventory levels rise.
- Total sales decreased nearly 5% year-over-year across the New River Valley MLS in the first half of the year. Total sales fell 4.7% from 1,022 in 2018 to 974 in 2019.
- The median sales price in the first half of 2019 was $195,000 compared to $183,500 in 2018, a 6.3% increase.
- In the New River Valley MLS, average days on market decreased 16.7% to 58. The Town of Blacksburg had the lowest average days on market within the New River Valley MLS at 30 days.
Be sure to check out the full 2019 New River Valley Mid-Year Market Report here for more info on how the market performed in the first half of the year.
Whether buying or selling, it is increasingly important in current market conditions to talk with your Nest Broker about how your home fits into the bigger picture. They will advise you and prepare you to make knowledgable decisions and help you achieve your real estate goals. Interested in what’s happening in other markets? To view all of our area market reports, click here.
Have questions? Contact your Nest Broker today.