Want to be up to speed on the current local real estate market trends in the New River Valley? Here’s a quick snapshot.
Total Sales: Despite a 17.2% year-over-year drop in Q3 sales in Christiansburg, total sales in the overall MSA increased by 10.3% thanks to strong sales performances in areas like the City of Blacksburg. 471 overall homes sold was the highest Q3 total since 2007.
Inventory: Inventory increased in nearly every major category in Q3, resulting in a 9% increase in the overall MSA compared to 2012. This is a positive sign for homebuyers as they will have more choice and be able to exercise greater selectivity in searching for a home.
Median Home Prices: Overall, median homes prices rose slightly in comparison to last year, but homes within the Blacksburg city limits saw a dramatic 17.2% jump in median prices. Rising prices could encourage those looking to sell to put their homes on the market.
For more information on real estate market trends in Blacksburg, Christiansburg, and the surrounding area, please contact your Nest Realty agent.