2012 Roanoke MSA Market Statistics

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Evangeline Wilcox
8 years ago
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1 2012 Roanoke MSA Market Statistics

2 Background In November 2011, after careful consideration of 6 Appalachian cities, I chose Roanoke, VA to be my new home and place of business. I decided to start a real estate business just weeks after being dropped into a market I knew nothing about. So, being the analytical guy I am I decided to pull all of the data I could get and quickly learn the market. I pulled a list of closed transactions from RVAR MLS and Roanoke City GIS to get started. After several hours of excel work I realized I had created a pretty good summary of the market that painted a clear picture. In January 2012 I was invited to present my findings to the Real Estate Investors Group of Roanoke so I pulled together a presentation to share what I had learned. Some of the data was obvious but I think everyone noticed at least one thing that was clearly different than what they thought. After presenting last year I realized that this is a valuable source of information not only for real estate investors but also for Realtors, Buyers and Sellers. I am happy to share this with you to help you make more informed decisions in buying a house, selling a house or growing your business. Please feel free to pass this along to anyone else you think might benefit. Download the 2011 REIR Presentation here:

3 Author Bio This presentation was prepared by the President of REsolutions Real Estate Services, Chad Corbett. As a real estate Agent/Investor/Consultant Chad has extensive experience in several markets across the U.S. ranging from Luxury Resorts to Commercial Assets. He currently holds real estate licenses in WV, VA and HI and has represented developers in over $55MM of sales and $600MM in closed transactions since With a wide client base he serves as a trusted advisor to real estate investors worldwide. In 2012 he moved to Roanoke from Maui, HI and founded REsolutions Real Estate Services. Chad graduated with honors from Fairmont State University with a B.S in Criminal Justice and a minor in Psychology.

Extensive experience in all aspects of real estate on a national level paired with a multi-national network of professionals that we work with enables REsolutions to offer you creative

4 Company Profile REsolutions Real Estate Services is a multi-service real estate company based in Roanoke, VA that utilizes innovative thinking, continuing education and adaptability to create win/win solutions for buyers and sellers no matter the market or the market conditions. Extensive experience in all aspects of real estate on a national level paired with a multi-national network of professionals that we work with enables REsolutions to offer you creative solutions to reach your real estate goals that most companies simply cannot. We specialize in making the selling process painless for owners and consistently provide competitively priced properties to our buyers. We look forward to helping you reach your real estate goals.

5 Company Profile Buyer Services Rent To Own Program Designed for buyers who want to buy NOW but need time to establish/repair credit. Wholesale Properties Residential and commercial properties at deep discounts Buyer s Agency Superior service and attention to detail for conventional buyers. Chad Corbett is a licensed VA real estate agent with Wainwright & Company REALTORS in Salem, VA. REsolutions, LLC is not a Brokerage. NO AGENCY RELATIONSHIP EXISTS between REsolutions, LLC and any Sellers or Buyers. Seller Services Rent To Sell Program Designed for Sellers who cannot sell conventionally because they have little to no equity Cash Purchase Program Cash purchase from Sellers who have equity but cannot sell because their property is in need of major repairs Sellers Agency Superior service backed by proven ability to market and sell. Chad Corbett is a licensed VA real estate agent with Wainwright & Company REALTORS in Salem, VA. REsolutions, LLC is not a Brokerage. NO AGENCY RELATIONSHIP EXISTS between REsolutions, LLC and any Sellers or Buyers.

6 Data Source Data in this presentation was compiled from 1 year of closed transaction data from RVAR MLS. Date Range from 11/20/11 11/20/12 To accurately illustrate the complete market you would need to include all GIS data from the Roanoke MSA to reveal all of the investor/fsbo deals that go unreported on MLS Data is sorted to zip code level. There are nearly 500 neighborhood codes which would require more sorting and reporting than I see value in. *All data for this report was gathered independently from RVAR. The final data findings were compiled by REsolutions, LLC.

7 Roanoke (MSA) *Source:

8 Roanoke (MSA) *Source:

9 2012 Totals & Year Over Year Changes Year over Year Changes Total Transactions increased 27% year over year Cash transactions increased 30% Average Sold Price decreased by 1.3% Average Cash Sold Price increased by 5% Median Sold Price increased by 1.1% Cash Median Sold Price increased by 25%

10 Sales by Municipality Just as in 2011, Roanoke County lead in total number of transactions but Roanoke City had a significantly higher percentage of Cash Transactions (35%) which indicates higher distress levels and increased investor activity.

11 Sales by Municipality Roanoke County continues to lead in pricing with Salem close behind. Notice the cash prices in Salem are nearly the same as financed transactions. This indicates strong demand in the market.

12 Sales by Zip Code Distribution of sales across zip codes remained consistent with South County and Salem continued to have significantly higher volume

13 Sales By Zip Code

14 Roanoke Valley Zip Code Map

15 Sales by Month Spring/Summer is the obvious buying season. There is a 55% difference in closed sales between October (highest month) and January (the lowest month)

16 Summary Tables Total Sold *Bold font indicates zip codes with most transactions

17 Summary Table Median Sale Price *Bold font indicates zip codes with most transactions

18 Summary Table Cash Deals by count and %

19 Summary Table Days On Market *Bold font indicates zip codes with most transactions

20 Chad Corbett C: O:

2013 LUXURY REAL ESTATE CONSUMER SURVEY EXECUTIVE SUMMARY

3/1/2014 C.A.R. 2013 LUXURY REAL ESTATE CONSUMER SURVEY EXECUTIVE SUMMARY Contents Survey Methodology... 2 Who Are Luxury Clients?... 2 Location, Location, Location!... 2 Luxury Home Buyers... 3 Luxury