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MARKET REPORT
NEW RIVER VALLEY
2013 was a year of modest growth and marked
stability in the New River Valley real estate market.
Low interest rates, strong consumer confidence and
more positive economic indicators all contributed to
a strong year for the New River Valley’s real estate
market.
2013 closed out with positive trends across the
board. Total sales were up. Median prices were up.
Inventory dropped and days on market for sold
properties were also down. With those four key
indicators all trending in a positive direction in 2013,
most signs point toward another active market in
2014. However, a rising interest rate environment and
some changes to mortgage lending rules may serve
as speed bumps towards the continued recovery of
our local market. That being said, we believe the New
River Valley market seems to have enough strength
to handle those potential concerns in 2014.
At Nest, we continue to be fortunate to have the
trust of a growing number of amazing clients. Our
company has continued to grow; adding an office
in Fredericksburg, Virginia and hiring talented
individuals who share the Nest vision.
As always, we will continue to work hard to provide
our clients with the highest level of service and most
relevant information to help you make informed real
estate decisions.
Thanks again for your trust in Nest.
Nest Realty:
2013 in Review
TOTAL
CLOSINGS:
913
Named #882 in the annual
fastest-growing private American
companies list
TOTAL SALES
$315,000,000
$275,000,000
$250,000,000
$225,000,000
$200,000,000
$175,000,000
$150,000,000
$125,000,000
$100,000,000
$75,000,000
$50,000,000
$25,000,000
2009 2010 2011 2012 2013
$28,085,866 $48,367,528
$80,779,303
$157,000,000
$315,000,000
ANNUAL TOTAL SALES VOLUME
Our agent’s use of technology meant he was in regular
communication with us while we went about our lives. We
recommend Nest Realty to everyone we know!
- Sean and Korine
TOTAL SALES
2012 20132009 2010
1,000
1,100
1,200
1,300
1,400
1,500
1,600
NEW RIVER VALLEY MSA
2011
1,461
1,592
1,428
1,256
1,402
TREND
MONTHS OF INVENTORY
2012 20132009 2010
8
9
10
11
12
13
14
2011
10.90
10.05
10.54
12.94
13.16
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012 % 2011
1,402
149,000
124
176,307
166,630
13.16
233,615,386
4.21%
4.03%
-3.23%
6.84%
7.06%
-17.17%
11.56%
1,461
155,000
120
188,370
178,387
10.90
260,623,455
SALES BY TYPE 2013
AREA ANALYSIS FOR NEW RIVER VALLEY AREA MSA
Single Family	 1371
Condo	63
Attached	158
MEDIAN PRICE
2012 20132009 2010
$135,000
$140,000
$145,000
$150,000
$155,000
$160,000
$165,000
2011
155,000
165,000
160,000
149,900 149,000
TREND
INVENTORY LEVELS
2012 20132009 2010
1,000
1,100
1,200
1,300
1,400
1,500
1,600
2011
1,327
1,537
1,518 1,526
1,342
TREND
SALES BY PRICE POINT 	$0-99,999	 $100,000-199,999	 $200,000-299,999	 $300,000-499,999	 $500,000+
2011
0% 25% 50% 75% 100%
2012 23% 45% 20% 10% 2%
29% 41% 19% 9%
2013 %
8.97%
6.45%
-10.00%
5.79%
7.03%
-7.80%
16.62%
1,592
165,000
108
199,284
190,922
10.05
303,949,383
2013 21% 42% 21% 14% 2%
1%
TOTAL SALES
2012 20132009 2010
200
225
250
275
300
325
350
BLACKSBURG IN TOWN
2011
258
328
256
237
229
TREND
MONTHS OF INVENTORY
2012 20132009 2010
4
5
6
7
8
9
10
2011
6.57
5.30
8.48
10.53
8.41
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012 % 2011
229
215,730
115
246,979
236,542
8.41
54,168,194
12.66%
2.10%
-8.70%
-0.17%
0.82%
-21.88%
13.58%
258
220,250
105
246,561
238,470
6.57
61,525,305
SALES BY TYPE 2013
AREA ANALYSIS FOR BLACKSBURG IN TOWN
Single Family	 205
Condo	52
Attached	71
MEDIAN PRICE
2012 20132009 2010
$170,000
$180,000
$190,000
$200,000
$210,000
$220,000
$230,000
2011
220,250
229,975
218,000
223,000
215,730
TREND
INVENTORY LEVELS
2012 20132009 2010
100
125
150
175
200
225
250
2011
141 145
219
250
161
TREND
SALES BY PRICE POINT 	$0-99,999	 $100,000-199,999	 $200,000-299,999	 $300,000-499,999	 $500,000+
2011
0% 25% 50% 75% 100%
2012 3% 39% 37% 20% 1%
6% 35% 38% 18%
2013 %
27.13%
4.42%
-20.00%
6.48%
6.80%
-19.33%
35.78%
328
229,975
84
262,539
254,696
5.30
83,540,528
2013 5% 33% 32% 26% 3%
2%
TOTAL SALES
2012 20132009 2010
200
225
250
275
300
325
350
CHRISTIANSBURG IN TOWN
2011
271
267
329
250
267
TREND
MONTHS OF INVENTORY
2012 20132009 2010
0
2
4
6
8
10
12
2011
6.51 6.95
9.27
11.50
8.97
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012 % 2011
267
160,000
114
176,090
170,032
8.97
45,398,609
1.50%
0.00%
-2.63%
2.91%
3.43%
-27.42%
4.98%
271
160,000
111
181,221
175,859
6.51
47,657,875
SALES BY TYPE 2013
AREA ANALYSIS FOR CHRISTIANSBURG IN TOWN
Single Family	 211
Condo	6
Attached	50
MEDIAN PRICE
2012 20132009 2010
$140,000
$145,000
$150,000
$155,000
$160,000
$165,000
$170,000
2011
160,000
169,000169,000
163,500
160,000
TREND
INVENTORY LEVELS
2012 20132009 2010
125
150
175
200
225
250
275
2011
147
155
272
277
200
TREND
SALES BY PRICE POINT 	$0-99,999	 $100,000-199,999	 $200,000-299,999	 $300,000-499,999	 $500,000+
2011
0% 25% 50% 75% 100%
2012 7% 65% 23% 6% 0%
10% 63% 24% 3%
2013 %
-1.48%
5.63%
-23.42%
1.60%
1.23%
6.76%
-0.26%
267
169,000
85
184,121
178,025
6.95
47,532,844
2013 11% 57% 27% 5% .5%
0%
MONTHS OF INVENTORY
2012 20132009 2010
4
5
6
7
8
9
10
2011
8.88
7.57
9.23
11.18
7.48
TREND
TOTAL SALES
2012 20132009 2010
0
50
100
150
200
250
300
2011
234
283
129 135
186
TREND
MEDIAN PRICE
2012 20132009 2010
$180,000
$190,000
$200,000
$220,000
$230,000
$240,000
$250,000
2011
199,450 200,000
225,000
209,500
246,500
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
234
199,450
115
240,074
230,273
8.88
53,883,875
2013 %
20.94%
0.28%
-20.87%
1.96%
2.63%
-14.75%
24.13%
283
200,000
91
244,774
236,339
7.57
66,884,181
Montgomery
MONTGOMERY
MONTHS OF INVENTORY
2012 20132009 2010
5
6
7
8
9
10
11
2011
9.22
6.17
8.80
11.74
9.90
TREND
TOTAL SALES
2012 20132009 2010
80
85
90
95
100
105
110
2011
99
107
101
91
99
TREND
MEDIAN PRICE
2012 20132009 2010
$105,000
$110,000
$115,000
$120,000
$125,000
$130,000
$135,000
2011
129,000
125,000
133,000
129,000
124,000
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
99
129,000
134
150,161
141,234
9.22
13,982,181
2013 %
8.08%
-3.10%
-35.82%
-3.79%
-2.97%
-33.08%
4.87%
107
125,000
86
144,463
137,035
6.17
14,662,795
Radford
RADFORD
FLAT
MONTHS OF INVENTORY
2012 20132009 2010
8
10
12
14
16
18
20
2011
19.92
18.29
12.84
14.73
18.74
TREND
TOTAL SALES
2012 20132009 2010
30
40
50
60
70
80
90
2011
75
82
57
67
62
TREND
MEDIAN PRICE
2012 20132009 2010
$120,000
$125,000
$130,000
$135,000
$140,000
$145,000
$150,000
2011
144,900
150,000
141,000
139,000
147,500
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
75
144,900
133
173,931
158,402
19.92
56,292,965
2013 %
9.33%
3.52%
30.08%
2.76%
5.85%
-8.18%
15.54%
82
150,000
173
178,734
167,664
18.29
65,038,265
Floyd
FLOYD
MONTHS OF INVENTORY
2012 20132009 2010
9
10
11
12
13
14
15
2011
11.96
10.80
11.39
15.74
11.79
TREND
TOTAL SALES
2012 20132009 2010
80
90
100
110
120
130
140
2011
104
133
118
96
108
TREND
MEDIAN PRICE
2012 20132009 2010
$90,000
$95,000
$100,000
$105,000
$110,000
$115,000
$120,000
2011
117,200
120,000
98,950
93,500
108,500
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
104
117,200
117
137,954
$130,217
11.96
13,542,554
2013 %
27.88%
2.39%
9.40%
9.26%
10.32%
-9.70%
41.08%
133
120,000
128
150,726
143,652
10.80
19,105,799
Giles
GILES
MONTHS OF INVENTORY
2012 20132009 2010
7
8
9
10
11
12
13
2011
8.96
11.2211.06
13.54
10.97
TREND
TOTAL SALES
2012 20132009 2010
170
180
190
200
210
220
230
2011
226
218
220
175
182
TREND
MEDIAN PRICE
2012 20132009 2010
$95,000
$100,000
$105,000
$110,000
$115,000
$120,000
$125,000
2011
111,950
124,000
110,000
115,000
100,000
TREND
Median Price $
Days on Market
Avg. List Price $
Avg. Sale Price $
Months of Inventory
Total Volume $
Total Sales
2012
226
111,950
109
129,531
122,603
8.96
27,708,246
2013 %
-3.54%
10.76%
-4.59%
12.39%
12.83%
25.22%
8.84%
218
124,000
104
145,585
138,337
11.22
30,157,000
Pulaski
PULASKI
A SAMPLING OF OUR 2013 SOLD PROPERTIES
2001 Birchleaf Lane $253,000 250 South Main Street #207 $158,000 402 Landsdowne Street $245,000
589 Hale Street $278,000 810 Sunrise Drive $485,000
819 North Village Way $380,000 1210 Draper Road $455,000 1225 Village Way South $360,000
1610 Boxwood Drive $380,000 2302 Capistrano Street $216,000 740 Oak Tree Boulevard $158,000
814 North Village Way $277,000
LIVE WHERE YOU LOVE
800-325-6378 (NEST)
www.NestRealty.com

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2013 Real Estate Report for the New River Valley

  • 2. 2013 was a year of modest growth and marked stability in the New River Valley real estate market. Low interest rates, strong consumer confidence and more positive economic indicators all contributed to a strong year for the New River Valley’s real estate market. 2013 closed out with positive trends across the board. Total sales were up. Median prices were up. Inventory dropped and days on market for sold properties were also down. With those four key indicators all trending in a positive direction in 2013, most signs point toward another active market in 2014. However, a rising interest rate environment and some changes to mortgage lending rules may serve as speed bumps towards the continued recovery of our local market. That being said, we believe the New River Valley market seems to have enough strength to handle those potential concerns in 2014. At Nest, we continue to be fortunate to have the trust of a growing number of amazing clients. Our company has continued to grow; adding an office in Fredericksburg, Virginia and hiring talented individuals who share the Nest vision. As always, we will continue to work hard to provide our clients with the highest level of service and most relevant information to help you make informed real estate decisions. Thanks again for your trust in Nest.
  • 3. Nest Realty: 2013 in Review TOTAL CLOSINGS: 913 Named #882 in the annual fastest-growing private American companies list TOTAL SALES $315,000,000 $275,000,000 $250,000,000 $225,000,000 $200,000,000 $175,000,000 $150,000,000 $125,000,000 $100,000,000 $75,000,000 $50,000,000 $25,000,000 2009 2010 2011 2012 2013 $28,085,866 $48,367,528 $80,779,303 $157,000,000 $315,000,000 ANNUAL TOTAL SALES VOLUME Our agent’s use of technology meant he was in regular communication with us while we went about our lives. We recommend Nest Realty to everyone we know! - Sean and Korine
  • 4. TOTAL SALES 2012 20132009 2010 1,000 1,100 1,200 1,300 1,400 1,500 1,600 NEW RIVER VALLEY MSA 2011 1,461 1,592 1,428 1,256 1,402 TREND MONTHS OF INVENTORY 2012 20132009 2010 8 9 10 11 12 13 14 2011 10.90 10.05 10.54 12.94 13.16 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 % 2011 1,402 149,000 124 176,307 166,630 13.16 233,615,386 4.21% 4.03% -3.23% 6.84% 7.06% -17.17% 11.56% 1,461 155,000 120 188,370 178,387 10.90 260,623,455 SALES BY TYPE 2013 AREA ANALYSIS FOR NEW RIVER VALLEY AREA MSA Single Family 1371 Condo 63 Attached 158 MEDIAN PRICE 2012 20132009 2010 $135,000 $140,000 $145,000 $150,000 $155,000 $160,000 $165,000 2011 155,000 165,000 160,000 149,900 149,000 TREND INVENTORY LEVELS 2012 20132009 2010 1,000 1,100 1,200 1,300 1,400 1,500 1,600 2011 1,327 1,537 1,518 1,526 1,342 TREND SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+ 2011 0% 25% 50% 75% 100% 2012 23% 45% 20% 10% 2% 29% 41% 19% 9% 2013 % 8.97% 6.45% -10.00% 5.79% 7.03% -7.80% 16.62% 1,592 165,000 108 199,284 190,922 10.05 303,949,383 2013 21% 42% 21% 14% 2% 1%
  • 5. TOTAL SALES 2012 20132009 2010 200 225 250 275 300 325 350 BLACKSBURG IN TOWN 2011 258 328 256 237 229 TREND MONTHS OF INVENTORY 2012 20132009 2010 4 5 6 7 8 9 10 2011 6.57 5.30 8.48 10.53 8.41 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 % 2011 229 215,730 115 246,979 236,542 8.41 54,168,194 12.66% 2.10% -8.70% -0.17% 0.82% -21.88% 13.58% 258 220,250 105 246,561 238,470 6.57 61,525,305 SALES BY TYPE 2013 AREA ANALYSIS FOR BLACKSBURG IN TOWN Single Family 205 Condo 52 Attached 71 MEDIAN PRICE 2012 20132009 2010 $170,000 $180,000 $190,000 $200,000 $210,000 $220,000 $230,000 2011 220,250 229,975 218,000 223,000 215,730 TREND INVENTORY LEVELS 2012 20132009 2010 100 125 150 175 200 225 250 2011 141 145 219 250 161 TREND SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+ 2011 0% 25% 50% 75% 100% 2012 3% 39% 37% 20% 1% 6% 35% 38% 18% 2013 % 27.13% 4.42% -20.00% 6.48% 6.80% -19.33% 35.78% 328 229,975 84 262,539 254,696 5.30 83,540,528 2013 5% 33% 32% 26% 3% 2%
  • 6. TOTAL SALES 2012 20132009 2010 200 225 250 275 300 325 350 CHRISTIANSBURG IN TOWN 2011 271 267 329 250 267 TREND MONTHS OF INVENTORY 2012 20132009 2010 0 2 4 6 8 10 12 2011 6.51 6.95 9.27 11.50 8.97 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 % 2011 267 160,000 114 176,090 170,032 8.97 45,398,609 1.50% 0.00% -2.63% 2.91% 3.43% -27.42% 4.98% 271 160,000 111 181,221 175,859 6.51 47,657,875 SALES BY TYPE 2013 AREA ANALYSIS FOR CHRISTIANSBURG IN TOWN Single Family 211 Condo 6 Attached 50 MEDIAN PRICE 2012 20132009 2010 $140,000 $145,000 $150,000 $155,000 $160,000 $165,000 $170,000 2011 160,000 169,000169,000 163,500 160,000 TREND INVENTORY LEVELS 2012 20132009 2010 125 150 175 200 225 250 275 2011 147 155 272 277 200 TREND SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+ 2011 0% 25% 50% 75% 100% 2012 7% 65% 23% 6% 0% 10% 63% 24% 3% 2013 % -1.48% 5.63% -23.42% 1.60% 1.23% 6.76% -0.26% 267 169,000 85 184,121 178,025 6.95 47,532,844 2013 11% 57% 27% 5% .5% 0%
  • 7. MONTHS OF INVENTORY 2012 20132009 2010 4 5 6 7 8 9 10 2011 8.88 7.57 9.23 11.18 7.48 TREND TOTAL SALES 2012 20132009 2010 0 50 100 150 200 250 300 2011 234 283 129 135 186 TREND MEDIAN PRICE 2012 20132009 2010 $180,000 $190,000 $200,000 $220,000 $230,000 $240,000 $250,000 2011 199,450 200,000 225,000 209,500 246,500 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 234 199,450 115 240,074 230,273 8.88 53,883,875 2013 % 20.94% 0.28% -20.87% 1.96% 2.63% -14.75% 24.13% 283 200,000 91 244,774 236,339 7.57 66,884,181 Montgomery MONTGOMERY MONTHS OF INVENTORY 2012 20132009 2010 5 6 7 8 9 10 11 2011 9.22 6.17 8.80 11.74 9.90 TREND TOTAL SALES 2012 20132009 2010 80 85 90 95 100 105 110 2011 99 107 101 91 99 TREND MEDIAN PRICE 2012 20132009 2010 $105,000 $110,000 $115,000 $120,000 $125,000 $130,000 $135,000 2011 129,000 125,000 133,000 129,000 124,000 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 99 129,000 134 150,161 141,234 9.22 13,982,181 2013 % 8.08% -3.10% -35.82% -3.79% -2.97% -33.08% 4.87% 107 125,000 86 144,463 137,035 6.17 14,662,795 Radford RADFORD FLAT
  • 8. MONTHS OF INVENTORY 2012 20132009 2010 8 10 12 14 16 18 20 2011 19.92 18.29 12.84 14.73 18.74 TREND TOTAL SALES 2012 20132009 2010 30 40 50 60 70 80 90 2011 75 82 57 67 62 TREND MEDIAN PRICE 2012 20132009 2010 $120,000 $125,000 $130,000 $135,000 $140,000 $145,000 $150,000 2011 144,900 150,000 141,000 139,000 147,500 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 75 144,900 133 173,931 158,402 19.92 56,292,965 2013 % 9.33% 3.52% 30.08% 2.76% 5.85% -8.18% 15.54% 82 150,000 173 178,734 167,664 18.29 65,038,265 Floyd FLOYD MONTHS OF INVENTORY 2012 20132009 2010 9 10 11 12 13 14 15 2011 11.96 10.80 11.39 15.74 11.79 TREND TOTAL SALES 2012 20132009 2010 80 90 100 110 120 130 140 2011 104 133 118 96 108 TREND MEDIAN PRICE 2012 20132009 2010 $90,000 $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 2011 117,200 120,000 98,950 93,500 108,500 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 104 117,200 117 137,954 $130,217 11.96 13,542,554 2013 % 27.88% 2.39% 9.40% 9.26% 10.32% -9.70% 41.08% 133 120,000 128 150,726 143,652 10.80 19,105,799 Giles GILES
  • 9. MONTHS OF INVENTORY 2012 20132009 2010 7 8 9 10 11 12 13 2011 8.96 11.2211.06 13.54 10.97 TREND TOTAL SALES 2012 20132009 2010 170 180 190 200 210 220 230 2011 226 218 220 175 182 TREND MEDIAN PRICE 2012 20132009 2010 $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 $125,000 2011 111,950 124,000 110,000 115,000 100,000 TREND Median Price $ Days on Market Avg. List Price $ Avg. Sale Price $ Months of Inventory Total Volume $ Total Sales 2012 226 111,950 109 129,531 122,603 8.96 27,708,246 2013 % -3.54% 10.76% -4.59% 12.39% 12.83% 25.22% 8.84% 218 124,000 104 145,585 138,337 11.22 30,157,000 Pulaski PULASKI A SAMPLING OF OUR 2013 SOLD PROPERTIES 2001 Birchleaf Lane $253,000 250 South Main Street #207 $158,000 402 Landsdowne Street $245,000 589 Hale Street $278,000 810 Sunrise Drive $485,000 819 North Village Way $380,000 1210 Draper Road $455,000 1225 Village Way South $360,000 1610 Boxwood Drive $380,000 2302 Capistrano Street $216,000 740 Oak Tree Boulevard $158,000 814 North Village Way $277,000