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