Category: Market Updates

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. It’ll be something to watch going forward – for the foreseeable future, anyhow, we’re …

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How’s The Market – May 2017

Each quarter, Nest Realty puts out an amazing piece of information we like to call our Nest Report. The Nest Report is a look at the real estate market, sans sales-speak – pure data, no fluff. It’s an incredible document full of helpful real estate market stats for the New River Valley, and you can see past examples at NewRiverValleyMarketReports.com. While these are really great ways to better understand the NRV real estate market, it takes a lot of work to put these out on a quarterly basis – and as you know, the market will change faster than every quarter. …

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10-Year Growth Report in Blacksburg

Dusting off the blog a bit … been a while since I’ve posted here. The title of this post … snooze, right? But I promise it’s a little more interesting than that. On Tuesday, I had the opportunity to speak with Bethany Teague, of WSLS, about a report the Town of Blacksburg had released earlier in the day. The report discussed how property values in Blacksburg – as well as in Montgomery County – had increased over the last decade, and highlighted some of the developments that have contributed the most to the Town’s tax base over that time. The fact that …

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What’s the Blacksburg Real Estate Market Doing?

Since January 1, it seems, real estate agents in Blacksburg seem to have been saying – to each other, to their clients, to anyone – what IS going on in the Blacksburg real estate market? Historically we follow a traditional bell curve, borrowing at simple loans for good financing and with more properties starting to come on the market in Mach, climbing to a high around May/June/July, and then falling to yearly lows in November and December … only to do it all again the following year. That’s what it’s USUALLY like. But 2016 hasn’t been usual, it seems, so this …

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The Nest Report – Q2 2015 Real Estate Market Report

It’s time once again for the Q2 2015 Nest Report, Nest Realty’s statistical report on what the New River Valley real estate market did during the last quarter. All stats, no fluff. Find your own nest here. Last year at this time, we were reporting a very unusual quarter. While the first quarter of 2014 saw brisk sales, particularly for that time of year, the second quarter lagged, and we were left shaking our heads. It wasn’t until the third quarter that it made sense – Montgomery County Public Schools had a short (42 day) summer last year, and so …

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Q1 2015 Nest Report – “How’s The Market?”

Without a doubt, one of the top three questions we’re asked as real estate agents is “how’s the market?” At a dinner reception last week, after I introduced myself to the table, someone asked “how’s the market?”. When I got coffee this morning, a regular at the Pub (fantastic breakfast and coffee, by the way) asked “how’s the market?” Heck, even an agent asked me that yesterday at a broker open – “how’s the market?”! One of the best tools we have as Nest Realty brokers is, in my opinion, the Nest Report, our quarterly look at what’s happened in the …

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What Did The Q3 2014 Real Estate Market Look Like?

The Nest Report, our quarterly look at the real estate market in the New River Valley, is out for the third quarter of 2014. I wrote in August that the second quarter of 2014 was different than expected, and at the time we didn’t really know why. I suspected it was because of a very short summer for Montgomery County Public Schools, and from what we’ve seen in Q3 and now, Q4, I think that that was, in fact, much of the reason for the slow down. Throughout the New River Valley, most of the metrics tracked showed nominal change from the …

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2014 Nest Report – What Did The Market Do In The Second Quarter

To say that the second quarter of 2014 has been unusual would be an understatement. Pockets of the market excelled, while others did not. Inventory was up, median sales were down, and yet there were more contracts written in the second quarter of 2014 than there were in the second quarter of 2013. While the New River Valley saw the strongest first quarter performance in the past five years in Q1, Q2 sales are the lowest they’ve been since 2011. Some properties have been flying off the shelves, while others – despite good prices – have been sitting idle for some time, and there’s …

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Q1 2014 New River Valley Real Estate Market Report

Hot off the heels of putting out the 2013 Nest Report, we’re already into May and  looking back at numbers from the first quarter of 2014. Crazy. So, without further adieu, here’s a repost of the Q1 2014 Market Report from the NestRealty.com site. As we do every quarter (and every year), Nest New River Valley has run the numbers for the first quarter of 2014 (Q1 2014). What did we find out? Nest Realty New River Valley Q1 2014 Real Estate Market Data (abbreviated market analysis): Total Sales: Total sales increased almost 13% in Q1 2014 for the overall MSA in …

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Disclaimer

My name is Jeremy Hart. I’m a licensed real estate agent at Nest Realty Group in Blacksburg, Virginia, and founding member of NRVLiving Real Estate. If you’re interested, my license number is #0225077937, and I’ve been a licensee in good standing of the New River Valley Association of Realtors, the Virginia Association of Realtors, and the National Association of Realtors since January 2004. You can contact me at jeremy at nrvliving dot com. I’m just a real estate agent and while I’m one piece of the puzzle, don’t forget to consult your attorney, tax professional and/or librarian (that last part was a poor attempt at humor) before making a financial or real estate decision. It should be noted that the information on this site is deemed accurate, but not guaranteed.