Oakdale Crossing, Ravenwing and Raven Pointe Real Estate Year in Review – 2016

Oakdale Crossing, Raven Wing and Raven Pointe Real Estate Year in Review – 2016

Oakdale Crossing, Raven Wing and Raven Pointe are the trifecta of great housing in Oakdale Crossing, Ravenwing and Raven Pointe Real Estate Year in Review - 2016Winchester, VA. These three neighborhoods flow seamlessly from and to the other on the east side of Winchester, VA. They have all been highly desirable since the first footers were dug in the late 1990s.

One of the great attributes of these three neighborhoods is the quality of the custom-built homes. They are not like many neighborhoods that offer a few options but end up looking more like a cookie cutter was used and not a custom builder. There are two-story colonials, spacious ranch homes, and cape cod styles.

Oakdale Crossing, Raven Wing and Raven Pointe – by the numbers

Throughout 2016, only 17 homes were soldOakdale Crossing, Ravenwing and Raven Pointe Real Estate Year in Review - 2016 in this 400 plus community. Of those 17, Oakdale Crossing had 2 sales, Raven Pointe had 3 and Raven Wing had 12. You can see, there is not a lot of movement in the neighborhood. Why? People love their homes.

The average sale price in 2016 was $377,514. The highest sale was $419,000 and the lowest was $299,900. Of those sales, only one property was listed as a distressed property.  It was a foreclosure in Oakdale Crossing. The neighborhood had a 94% fair market sales record for 2016.That is higher than the average for the Winchester-Frederick County, VA real estate market. 

The average sale was made up of a four bedroom, four bath and one half bath home. The average days on the market was 86, which is consistent with the overall local market.

What does the future hold for Oakdale Crossing, Raven Wing and Raven Pointe?

What does the future hold for Oakdale Crossing, Raven Wing and Raven Pointe? Good Oakdale Crossing, Ravenwing and Raven Pointe Real Estate Year in Review - 2016things. The local Winchester-Frederick County, VA real estate market appears to have fully recovered from the 2008 recession and has had a few years of consistent sales with increasing home prices.

Oakdale Crossing, Raven Wing and Raven Pointe now have seven homes available for buyers to view. There is one pending. The average list price of the current listings is $468,654. If that price holds to contract and closing, that is a substantial increase in the average sales price. The average days on the market of the current listings is 144. That does show the impact of the election cycle,the seasonal changes and the holidays. Warmer weather will bring more buyers and more sales.

For would-be buyers, you have seven chances to own a home in this highly desirable neighborhood. When you’re ready to buy or sell in Oakdale Crossing, Raven Wing, or Raven Pointe, give Mike Cooper a call. Mike is your local real estate sales pro.

2017 Real Estate Trend in Winchester-Frederick County, VA

2017 Real Estate Trend in Winchester-Frederick County, VA

The real estate trend in the Winchester-Frederick County, VA market shows a slow 2017 Real Estate Trend in Winchester-Frederick County, VAsteady increase in 2016 over the 2015 market. That’s good news for the 2017 real estate market. Eight out of twelve months in 2016 exceeded the market of 2015, which was also a move up from 2014.

What affects the market trend?

The only issue the 2016 market dealt was the election cycle. Whenever there is a contentious presidential election, the Winchester-Frederick County, VA market tends to become skittish close to voting day. The 2012 market followed that pattern, and 2016 did as well. Once the election was over, the market returned to its upward trend.

2017 Real Estate Trend in Winchester-Frederick County, VAIn most years, April through September trend up. January – March are still in the throes of cold days and less daylight. Buyers are still buying, but the numbers tend to be lower. After daylight savings time arrives in the Spring, the market resumes its upward march until the holiday season from Thanksgiving through New Years.

The market trend is in the numbers.

There were 1747 sales in 2016 and 1745 in 2015. That looks like a pretty stable market. The average days on the market were 76 in 2016 and 77 in 2015. Again, there is a consistent healthy trend forming.

The big difference in the two markets was in distressed properties. The 2016 trend in distressed properties was 7.4%. That is a great drop from the 2015 13.7%. That is a 45% drop in distressed property sales. Very few statistics inspire more hope for a healthy market than fair market sales. Fair market sales are less labor intensive for all parties and they get to closing with fewer hiccups.

If the trend continues, 2017 looks like a great year for real estate sales.

With the election behind the country, distressed properties on the decline and interest rates at historic lows, it’s shaping up to be a great year.

When you’re ready to buy or sell in the Winchester-Frederick County, VA real estate market, give Mike Cooper, at Cornerstone Business Group, Inc., a call. Mike is your local real estate sales pro.

 

Winchester – Frederick County, VA Real Estate Sales – December 2016

Winchester – Frederick County, VA Real Estate Sales – December 2016

The Winchester – Frederick County, VA real estate market showed continued growth Winchester - Frederick County, VA Real Estate Sales - December 2016
and stability in December 2016. Real estate sales were up 13.75% over the same period in 2015. Total sales for December 2016 were 155.

Of that number, Frederick County had 124, or 80%, of the sales and Winchester City had 31. During the same period in 2015, sales were at 135. Frederick County had 120, or 89%, and Winchester City had 15.

Dollars and cents

The Winchester City sales ranged from a low of $37,500 to a high of $789,900. The overall average for the city was $265,855. The county fared a little better with a low of $79,900 to a high of $720,000. The average was $278,609. The Winchester City average home was a 3 bedroom 2 bath home. The Frederick County average was 3 bedrooms and 3 bathrooms.

Days on the market

The average days on the market for the city was 64, while the county was 82. The city always has fewer home available. The limited number encourages a more robust turnover of turnaround time on listings. The county is the larger of the two market areas, and it also has a longer turnaround time due to the volume of available properties.

In the Winchester – Frederick County, VA real estate market, a market of 500 – 550 available homes is a rapid moving market with more competitive home pricing. When the number of available homes climbs higher, such as in July of 2014 where the market reached 780+ homes, the market tends to slow down and competitive bidding and multi-contract offers decline. Days on the market will increase under those condition where it will decline when there is limited available properties.

Distressed properties continue to decline in the Winchester – Frederick County, VA real estate market

The number of distressed properties declined in December 2016. The yearly average had stayed steady at 9% throughout much of 2016, but the December number fell to 5%. There were only 3 short sales over both markets, and there were 5 foreclosures. That number is significant when you look at it in light of 2015. Distressed properties made up 18% of the December market in 2015. Foreclosures and short sales were three times that of December 2016.

The overall health and stability of the real estate market continues to show solid improvements as the market enters 2017. When you’re ready to buy or sell in the Winchester – Frederick County, VA real estate market, make sure to call Mike Cooper at Cornerstone Business Group, Inc. Cornerstone is your local real estate sales pros.

 

Winchester, VA Real Estate Sales Year in Review – 2016

Winchester, VA Real Estate Sales Year in Review – 2016

The Winchester, VA real estate market had a good year in 2016. Overall salesWinchester, VA Real Estate Sales Year in Review - 2016 were 1732, which is only 13 less than 2015. That’s less than a 1% pullback. It is consistent in a contentious election year to see sales slow down in the months leading up to election day. That happened in 2012, and it happened this year as well. The strength in the Winchester, VA real estate market can be seen in that pullback was minor. The 2013 market increased from the 2012 election year market by 11%. The 2011 market was behind the 2012 market by 6%, but it was also in the throes of the recession.

More positive signs

Another positive sign of a strong real estate market in Winchester, VA is the presence of distressed properties. The 2015 had 13% foreclosures and short sales, but the 2016 market has averaged 9% throughout the year. There were a few dips through the year to lower distressed property numbers, but most months averaged 9%. 

The Winchester – Frederick County, VA area is made up of Winchester City and numerous rural communities in Frederick County. Winchester City and seven of the rural communities made up the lion-share of sales in the Winchester – Frederick County, VA real estate market for 2016. The city (22601) had 354 sales, and the Frederick County, VA community of Stephens City (22655) carried 412. The county 22602 zip code brought in the largest number of sales at 539. The 22602 zip code in Frederick County is a sprawling area wrapping around much of Frederick County.

What sold?

Winchester, VA is a old VA community. Because of its location in the northern Shenandoah Valley since colonial times, it is prone to colonial home construction and sales. Colonials made 692 sales. Ranch homes sales were supported by 409 sales and townhouses were 232. The balance of sales were categorized as “other”.

The Winchester, VA housing market has gone through many changes since the 2008 housing collapse, but the current conditions show positive results for both buyers and sellers. Interest rates are still low, so it’s a great time to buy or sell.

When you’re ready to buy or sell in the Winchester, VA real estate market, make sure to give Mike Cooper at Cornerstone Business Group, Inc. a call. Mike is your local real estate sales pro.

Winchester, VA Real Estate Sales Year in Review – 2016

This post was originally published at ActiveRain.com: Winchester Real Estate Sales  – 2016