Roanoke Metropolitan Statistical Area Market Conditions

1. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
Median Sales Price
$60,000
$40,000
Roanoke
County
$20,000
Roanoke
City
Botetourt
County
$171,250
$126,000
$215,750
Franklin
County
$195,500
$260,000
$221,000
$123,000
Current Month
$106,975
$80,000
$168,500
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
$179,950
One Year Ago
$168,000
$168,475
$174,000
$169,725
$165,000
$163,000
$155,000
$149,925
$140,000
$146,200
$155,000
$148,500
$150,000
$161,250
$176,800
$153,725
$139,575
$130,000
$125,000
$100,000
$154,414
$120,000
$137,000
$140,000
$151,000
$160,000
$156,000
Of Top Five Counties/Cities Based on Total Units Sold
$161,500
Median Sale Price
$180,000
$169,250
$200,000
Salem
County
$0
Median Sale Price
12%
10%
8%
11%
15%
6%
0%
1%
4%
5%
1%
3%
10%
9%
10%
15%
12%
19%
20%
-25%
-4%
-14%
-20%
-10%
-15%
-10%
-10%
-8%
-5%
-2%
0%
0%
-14%
● The current median sale price was
12% higher than the same month last
year.
25%
-6%
● This September, the current median
sale price of $168,000 was similar to
the median sale price of last month.
Percent Change Year/Year
-18%
Highlights
54

2. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
Total Units Sold
400
86
79
20
100
26
24
40
17
39
60
33
80
47
100
73
296
Current Month
101
354
364
350
120
233
218
One Year Ago
140
193
201
245
234
286
307
314
244
229
222
201
210
211
Of Top Five Counties/Cities Based on Total Units
Sold
156
150
236
200
214
250
294
278
300
345
Total Units Sold
350
0
Roanoke
County
50
Roanoke
City
Franklin
County
Botetourt
County
Salem
County
0
Total Units Sold
11%
5%
8%
4%
26%
20%
24%
9%
16%
21%
19%
9%
5%
10%
15%
20%
-4%
-8%
-10%
-1%
0%
-2%
● There was a decrease of 15% in total
units sold in September compared to
August.
12%
30%
27%
34%
40%
31%
41%
50%
9%
● This month's total units sold was
higher than at this time last year, an
increase of 26% versus September 2012.
Percent Change Year/Year
24%
Highlights
-20%
55

3. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
Total Units Sold by Type
Detached
Total Units Sold by Type
Current Month
Condo
400
Detached
Condo
350
300
29
10%
250
200
150
100
50
267
90%
0
Total Units Sold by Price Range
< 150K
160
150K to < 300K
300K to < 450K
450K to < 600K
Total Units Sold by Price Range
Current Month
600K and up
< 150K
450K to < 600K
150K to < 300K
600K and up
300K to < 450K
140
120
100
32
11%
80
9 8
3% 3%
128
43%
60
40
20
119
40%
0
56

4. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
Total Active Inventory
Current Month
173
400
200
1,000
164
293
600
1,500
311
743
751
766
800
684
1,000
816
One Year Ago
723
2,673
2,746
2,767
2,811
2,770
2,611
2,482
2,374
2,333
2,576
2,336
2,000
2,718
Of Top Five Counties/Cities Based on Total Units Sold
2,819
2,910
2,941
2,965
2,951
2,912
2,779
2,639
2,554
2,518
Total Active Inventory
2,807
2,500
3,014
3,000
3,153
3,500
0
Roanoke
County
500
Roanoke
City
Franklin
County
Botetourt
County
Salem
County
0
Total Active Inventory
Percent Change Year/Year
-3%
-5%
-6%
-6%
-10%
-11%
-9%
-10%
-11%
-11%
-13%
-11%
-10%
-12%
-12%
-14%
-17%
-15%
-15%
-13%
-13%
-12%
-10%
-11%
-14%
● Versus last September, the total
number of homes available was lower
by 146 units or 5%.
-8%
-9%
-6%
-7%
-5%
-5%
-10%
● September's total active inventory of
2,673 units was 3% lower than the
previous month's supply of inventory.
1%
-1%
-7%
Highlights
57

5. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
Total Active Inventory by Type
Detached
Total Active Inventory
by Type
Condo
Current Month
Detached
3,500
Condo
3,000
297
11%
2,500
2,000
1,500
1,000
2,376
89%
500
0
Total Active Inventory by Price Range
< 150K
3,500
150K to < 300K
300K to < 450K
450K to < 600K
600K and up
Total Active Inventory by
Price Range
Current Month
< 150K
450K to < 600K
150K to < 300K
600K and up
300K to < 450K
3,000
210
174 8%
7%
2,500
2,000
1,500
947
35%
331
12%
1,000
500
0
1,011
38%
58

6. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
Average Sale Price as a Percent of List Price
Sale Price as % of List Price
97.0%
Roanoke
County
92.0%
Roanoke
City
Days on Market
Current One Year
Month
Ago
91.0%
102
128
120
110 105
100
90
80
116
121
120
114
108
100
100%
118 117
114
111
96.6%
95.3%
96.9%
93.6%
95.6%
Salem
County
108
94.6%
94.5%
Up 0.1% Vs. Year Ago
by Price Range
126 126
123
117
Botetourt
County
Average Sale Price as a Percent of List Price
Days on Market
130
Franklin
County
Avg Sale Price as % of List Price
Current
One Year
Month
Ago
Down -6% Vs. Year
Ago
140
Current Month
92.0%
95.5%
95.4%
95.0%
100.0%
98.0%
96.0%
94.0%
92.0%
90.0%
88.0%
86.0%
94.0%
94.6%
95.0%
95.7%
95.7%
96.0%
94.1%
94.3%
94.6%
94.3%
94.6%
94.5%
95.3%
95.6%
94.8%
94.7%
94.8%
94.2%
One Year Ago
92.9%
93.0%
94.2%
94.2%
94.1%
93.4%
94.0%
94.6%
95.0%
95.1%
96.0%
96.4%
Of Top Five Counties/Cities Based on Total Units
Sold
114
108
99
108 109
99
103
98
102
< 150K
150K to < 300K
300K to < 450K
450K to < 600K
600K and up
95%
90%
85%
70
60
50
80%
75%
59

7. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
Total Dollar Volume Sold
In Thousands
Highlights
$90,000
$79,128
$56,495
$60,254
$73,995
$74,476
● Total volume sold this September was
27% greater than the same month one
year ago.
● In September, there was 9.0 months of
supply available, compared to 12.1 in
September 2012. That was a decrease
of 25% versus a year ago.
$40,380
$38,645
$31,375
$36,306
$47,079
$47,563
$62,355
$46,662
$40,920
$36,816
$50,130
$63,241
$10,000
$30,657
$23,365
$20,000
$41,042
$30,000
$40,418
$34,919
$40,000
$43,241
$50,000
$52,580
$70,000
$60,000
$77,959
$80,000
$0
Months of Supply
Total Dollar Volume Sold
Current
One Year
Month
Ago
Current Month's Active Inventory/Current Month's Unit Sales
18
4
2
9.0
7.9
8.0
7.9
8.5
10.9
12.1
11.6
10.5
9.5
9.3
12.1
12.1
12.5
13.1
13.3
12.7
10.6
10.7
7.6
6
$47,562,786
Up 27% Vs. Year Ago
10.1
8
12.0
10
12.8
12
$60,253,601
14.7
14
16.4
16
Months of Supply
Current
One Year
Month
Ago
9.0
12.1
Down -25% Vs. Year Ago
0
60

8. The Long & Foster ® Market Conditions Report
Roanoke Metropolitan Area - September 2013
New Listings
New Listings & New Contracts
Franklin
County
Botetourt
County
44
34
43
93
86
165
164
Roanoke
City
Salem
County
New Contracts
Current Month
0
23
17
37
27
39
50
50
94
100
81
112
One Year Ago
81
316
310
345
299
341
336
253
389
294
253
150
172
201
249
237
282
279
253
179
145
Roanoke
County
561
577
568
538
697
692
519
494
475
464
526
520
532
551
295
294
280
204
228
168
210
229
202
100
Current Month
Of Top Five Counties/Cities Based on Total Units Sold
300
200
200
150
100
50
0
369
400
335
381
500
495
448
518
600
551
700
662
664
800
One Year Ago
72
New Contracts (Under Active Contract Status)
723
New Listings
Of Top Five Counties/Cities Based on Total Units Sold
0
Roanoke
County
New Listings
Current One Year
Month
Ago
561
475
Up 18% Vs. Year Ago
New Contracts
Current One Year
Month
Ago
316
Highlights
● Based on this month's amount of new
listings and new contracts, the ratio of
home supply (new listings) to current
home demand (new contracts) was 1.8,
a decrease of 7% from September 2012.
Roanoke
City
Franklin
County
Botetourt
County
Salem
County
Supply/Demand Ratio
Number of New Listings to New Contracts
3.0
2.5
2.0
2.3
2.4 2.4 2.4
2.1
1.9
2.0
2.3
2.1
1.9
2.0
1.9 1.9 1.9
1.8
2.0
1.7
2.1 2.1
2.0
1.9
1.8
1.9
1.6
1.8
1.5
1.0
249
Up 27% Vs. Year Ago
0.5
0.0
61