The sections below are analyses of the sales trends for various neighborhoods in Blacksburg and Christiansburg, done in early 2012. This is an ongoing project -- if you don't see here a neighborhood that interests you, please feel free to contact me directly and I can probably provide information within a few days. Note that these data are pretty generalized, and there is no substitute for a detailed Comparative Market Analysis on a specific property: I can do one of those for you, as well.
AIRPORT ACRES. Blacksburg
2005: 3 sales, prices $170-185.5K, built 1940-48, 1300-1762 s.f.; all had at least 2 full baths, the 2 higher-priced were remodeled.
2007: 1 sold, list $189.9K, sale price $179K; 1078 s.f. (3Bd1Ba), built 1955, remodeled.
2009: 3 sold, 1279-1500 s.f., built 1941-46, sale price $160-180K. (Largest had lowest price, was partially remodeled but not quite livable as-is; others had only minor remodeling.)
2010: 2 sold, 1308 (3Bd1Ba) and 1708 s.f. (4Bd2Ba), built 1940, both renovated. DOM 4, 57. Sale prrices $187K (net $184K, 92% of orig list), $241.4K (same net, 96.6% of orig list.) None had previously unsold listings.
2011: 3 sold, 1308-1772 s.f. (3Bd1Ba to 4Bd1.5Ba), built 1942-48; all renovated (largest house had addition). DOM 0-187. Sale prices net $182.9-$221K, 91-98% of orig. list). One had a previous expired listing.
CEDAR HILL, Blacksburg
2005: 4 sold, sale prices $182.5-225K (all close to list price), 1496-2316 s.f.
2007: 3 sold, sale prices $209-274K (all at or close to list price), 1439-2207 s.f.
2009: none sold.
2010: 2 sold, 2316s.f.(3Bd3.5Ba, built 1997, DOM 210); sale price $224,500 (net sale price $222,125 – 94% of last list, 84% of orig list)
2032 s.f. (3Bd2.5Ba, built 1994, DOM 331); sale price $227,500 (net sale price $223,400 – 94% of last list, 85% of orig list).
2011: 2 sold. 1352 s.f. (3bd2ba, built 1994, DOM 107); sale price $200K (same net sale price, 96% of unchanged orig list).
2216 s.f. ( 4Bd3.5ba, built 1999, DOM 458). Sale and net sale price $245K, 96% of unchanged orig list.
None of the sales in 2010-11 had previous expired listings.
1 sale is pending as of 2/10/12 – list price $189,900 (orig list $199,900), 180 DOM, 1439 s.f., built 2000.
DEERFIELD, Blacksburg
No sales in 2005 or 2007
One sale 2009: 4372 s.f., built 1996. List price $494,500, sale $418,000 (85% of list).
2 previous listings, 2007 and 2008, expired.
No sales 2010.
1 sale in 2011 (closed in March): 3422 s.f., built 1993, 4 Bd3.5ga. List and sale price $425,000, net sale price $422,600 (99% of original list price). No previous expired listing.
DICKERSON, Blacksburg
2005: 3 sold, built 1962-84, 2200-2660 s.f., sales prices $237-280K
2007: 4 sold, built 1958-90, 2100-2800 s.f., sales prices $210-302K.
2009: 1 sold, built 1966, 2169 s.f., sale price $271K.
2010: 1 sold, 2160 s.f., built 1966, DOM 16. Net price $264K (98% of orig list)
2011: 3 sold. 1848-4484-2436 s.f., built 1964-2001, DOM 31-73. Net prices [in same order as sizes]: $240K, 324K, $354K (% of orig list: 96, 98, 94).
MCBRYDE VILLAGE, Blacksburg
2005: 9 sold, $168-300K
2007: 5 sold, $239-301K
2009: 3 sold, $170-220K.
2010: 5 sold, abt 1600-2500 s.f., built 1962-69, DOM 10-180, net price $169-244.5K
Only one had a previous expired listing.
2011: 7 sold, abt 1600-4000 s.f., built 1955-1969, DOM 27-314, net prices $202.5-285K.
WOODBINE, Blacksburg
Another neighborhood where prices have not gone down much over the last few years, though they have also not risen. These houses are in the older part of the neighborhood, most houses built in the late 1970s, early 1980s, sizes from about 1300 s.f. to about 3000 (the higher square footage is usually a finished basement).
2005: 9 sales, prices $190,000 to $250,000
2007: 10 sales, prices $187,000 to $260,000.
2010: 8 sales, days on market 20-102, net prices $214,000 to $325,000.
2011: 5 sales, days on market 8 to 472, net prices $275,000 to $253,000.
There were 8 other properties on the market in 2010 and 2011 -- one is still unsold but active on the market. One was cancelled (twice) and has not been relisted.
Six of those 8 listings expired and those houses have not been relisted by 1/11/12.
WYATT FARM, Blacksburg
House prices here seem to have been quite stable over the last few years; some houses don't sell quickly, but others do.
Two previous years for the longer range view --
2005: 7 houses between 3000 and 4000 finished sq ft sold, at prices between $472,000 and 596,000. 3 houses over 4000 finished sq. ft sold, at prices between $542,000 and 596,000.
2007: 3 houses sold, all between 3300 and 4000 s.f., at prices between $440,000 and $602,000.
Sales in the recent slow market:
2010: 3 houses sold, between 3000 and 4339 s.f., built 1997-2006, days on market between 42 and 126 [this is the time between listing and a ratified contract]. The net price [sales price minus any seller concessions such as major repairs or payment of buyer's closing costs] ranged from $360,000 and $575,000. [That lower price is uncharacteristic: it was a foreclosure, and the house was not in great shape. There had earlier been a fire in the garage, though that had been repaired.]
2011: 4 houses sold, between 3600 and 4236 s.f., build 1999-2005, days on market 7-209, with net prices of $447,000 to 565,000.