Tracking the Waynesboro & Augusta Real Estate Market
From the category archives:
Welcome back!I’ve just returned from a 10 day trip to the gulf coast of Texas, a trip that I will comment on in a future post. Today’s topic is a quick statistical look at the month of January. According to GAAR there were 1,000 active residential listings in January for Waynesboro, Staunton and Augusta [...]
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One of my charges in this blog is to report on new construction in the valley. The Greater Augusta Association of Realtors (GAAR) does not currently report new construction starts as a separate and discreet category. To cope with that dilemma, I obtained data on new construction permits from the good folks in the Augusta [...]
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Days on Market
These numbers include all residential sales in the GAAR (Greater Augusta Association of Realtors’) service area, but are predominately centered in the Augusta County market:
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Looking forward, there are some significant positives – – Interest rates are at all-time lows, and if you are looking to buy and actually live in the home, and enjoy the intrinsic values, now could absolutely be the best time to buy that you or I may ever see. … Looking back at the past four years (the extent of the data provided by the MLS) – For Augusta County – Looked at another way, we see clearly that 2006 was the peak: Looking specifically at the City of Waynesboro – The volume trend analysis looks a bit ugly: There is much more to come next week, including a significant announcement about RealWaynesboroVA.
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This week I’ll be posting an end-of-2008 market analysis of the Waynesboro/Augusta real estate market and set the stage for 2009 … stay tuned.
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A further breakdown – Just in the City of Waynesboro – 241 properties on the market, 109 vacant = 45% of homes actively on the market in the MLS in the City of Waynesboro are vacant. (58 of the 241 are shown as being new construction) Augusta County – 511 properties on the market, 155 of which are vacant – 30% of homes on the market in Augusta County are vacant. (78 of the 155 are listed as being new construction) What does this data mean? … If you’re a buyer looking at a vacant house, you may want to (get permission first) and come in before the home inspection and spend some time flushing toilets, running water, running the dishwasher, washer/dryer, etc. – the snapshot provided by a short (although thorough) home inspection may not provide all the insight you need.
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In response to a comment made at the Newsleader requesting median sales prices – This is just for the broad residential category; if you would like to see a more detailed breakdown, please let me know . Personally, I disregard the “percent difference” columns, as this can be manipulated fairly easily . (click the images for larger images) 
In short, my advice remains : I think we may be about 25% of the way into these unknown, murky waters.
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They say that pictures say what words cannot – Listing volumes for Waynesboro and Augusta List to Sell for Waynesboro and Augusta Days on market : 2005 – 104 2006 – 105 2007 – 126 2008 – 144 Contact me if you would like more detailed information, market statistics or other market data for Waynesboro and Augusta. This market is not immune to the current market volatility.
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