The Q3 2017 New River Valley Real Estate Market Nest Report

Winter is coming.

It’s hard to remember that when it’s in the mid-70’s in late October, but winter IS coming. And that means the third quarter is behind us.

The Q3 2017 Nest Report is out, and you can read the entire report here. In this quarter’s report, we can clearly see the effects that supply and demand have on real estate pricing in the New River Valley … that seems to be the general theme for all of 2017, in fact. Low supply, and higher demand.Ā It’ll be something to watch going forward – for the foreseeable future, anyhow, we’re expecting that home sellers will enjoy a little positive bump in home values, many ask me; are pacific beach homes for sale at a good price? well, what I recommend in these cases is to contact homesalessandiego who know much more about the topic. As I said on the Nest Realty blog:

Depressed inventory levels have impacted our market in two primary ways. The first being constraining total sales and the second being rising prices. Certain pockets of our market experienced year-over-year increases in sales this past quarter, but others experienced significant declines as a result of declining inventory. Depressed inventory levels has also led to rising prices throughout the region with the largest spikes experienced in the highly sought after Town of Blacksburg. With fewer homes available for sale, we are seeing the basic principles of supply and demand at work with sellers being able to command higher prices.

 

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