Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018.

Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018.

Stephens City, Virginia may be the best kept secret in the north-west corner of Virginia, but some are discovering it. It accounted for 29% of the total Frederick County real estate market in 2018. That’s consistent with the 2017 real estate market. It was 29.8% of total Frederick County sales in 2017.

The Frederick County real estate market had 1386 sales in 2018, which was a 2.5% increase over 2017. Stephens City had 404 of those sales. The amazing thing about that volume of sales is that Stephens City is .57% of the total square miles Frederick County. At humble 2.4 square miles, Stephens City is a giant in real estate sales.

The location of this small community makes it prime for commuters, college students, families with children, people seeking 55 plus living, those needing assisted living facilities and just about anyone else who is looking for a comfortable small town feel with access to just about everything. Stephens City is bordered by Rt 11, Rt 522, Rt 340, Interstate 81 and Rt 37. Route 66 is a few short minutes south of town and it gives commuters a straight shot to travel into the DC Metro area.

Shenandoah University and Lord Fairfax Community College, which also hosts Old Dominion University courses, are on opposite ends of the community. That makes Stephens City a great place for those seeking a college degree. Also, James Madison University is a short 45 minute commute south of town.

Multiple new neighborhoods are under development and home-buyers are discovering this quaint and thriving area. On both the east and southern sides of Stephens City, new homes are going up as fast as builders can complete them.

Stephens City by the numbers: Existing vs New Construction

The average existing home sale in 2018 was $251,167. That is an affordable home price for many first-time buyers, as well as, move-up or scale back buyers. Those numbers are dramatically different when new construction is separated from the total sales.

New construction consisted of 43 home sales in 2018. Those homes sold at 101.4% over list price. The average new construction sale was $339,356. When you remove the 12 new construction townhouses from that number, the average detached new construction sale was $383,867. Here again, those homes sold over list at 102.5% of list.

Buyers just entering the real estate market may be better served buying an existing home, and not a new construction home, but the options are open in Stephens City, VA. A new townhouse averaged $233,677 in 2018, but an existing townhouse sale averaged $170,647.

Stephens City Available Homes: Existing and New Construction

Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018.There are now 73 homes available in the Stephens City real estate market. Twenty-eight of those are new construction. There are three new townhouses and twenty-five detached homes. The average list price of the total currently available homes in $289,726. Here again, that is a popular price range for a large percentage of the buying public.

Stephens City by the numbers: Distressed Properties

Distressed properties can have a large impact on a real estate market, but the volume of distressed properties in Stephens City, VA was steady at 5%. The distressed properties (foreclosures and short sales) for the entire Frederick County, VA real estate market was 4.8% in 2018. That is consistent with the neighboring counties and is no longer a major determining factor on local real estate sales.

Stephens City, Virginia is the jewel of Frederick County, VA. When you’re ready to buy or sell in the Stephens City, VA real estate market, give me a call and let’s make something great happen. Stephens City offers a lot with the comfortable sense of a small close-knit town.

 

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Buyers, the cold months are a great time to buy a home at a discount.

Buyers, the cold months are a great time to buy a home at a discount.

Often, home sellers are told to wait until Spring to list their homes, and there may be Buyers, the cold months are a great time to buy a home at a discount.some truth to that, but for buyers, the best time to get the best home purchase discount is in the colder months. Do people really buy in the cold months? Yes they do. Actually, the cold months are a great time to buy.

The cold months are a great time to buy.

In one neighborhood in the Stephens City, VA real estate market, the biggest sale months are February, April, January, March, June and October. Canter Estates saw the highest volume of sales in these months. Think about that for a minute. February, January, March and October are colder and darker months, and yet, they produced the most sales. Should you wait until Spring to list, you can, but you can also sell in the darker and colder months with confidence.

The cold months are a great time to get the best home purchase discount.

Sellers need to be wise during those colder months because the biggest discounts are found in January, February, March and April. A Realty Trac study found that February is the biggest discount month with a discount of up to 6.1% below the asking price. January had a 5.6% discount, March was 3.6% and April 1.8%. For buyers, that’s a great thing to know. The colder months, which are often ignored by many agents are really great buying opportunities for buyers.

In another Realty Trac study, researchers found that the best day of the week to get a discount is Monday followed by Friday. For buyers, there is a science to home-buying. The best day to buy a home varies by market, but every market has its sweet spot for buyers. The Realy Trac research does offer some insight into those ideal buying spots to help buyers get the best deal.

When you’re ready to buy or sell your Winchester to Northern Virginia home, give me a call at Cornerstone Home Sales. I am your neighborhood real estate sales pro.

Red Fox Run, Winchester, VA – 2018 Real Estate Market Review

Red Fox Run, Winchester, VA – 2018 Real Estate Market Review

Red Fox Run in Winchester, VA had a solid year in real estate for 2018. The Frederick County, VA real estate market saw an increase in homes sales by 1.8%. That seems low, but in comparison to the national average, it’s an improvement.

Nationwide, the number of home sales actually declined in 2018 -4.3%. Red Fox Run also saw a decline in the number of homes sold in 2018 from the previous year but in a micro-economics view, that can mean something, or it can mean nothing.

The fact that fewer homes sold in Red Fox Run may simply mean that fewer peopleRed Fox Run, Winchester, VA - 2018 Real Estate Market Review sold their homes on purpose. According to a Gallup survey, “one in four Americans move every 5 years.” That number equates to about 11 moves in a lifetime. That’s a huge number, but the US society has become much more mobile than a few decades ago. People move for jobs, to be close to family, to retire or start a new business, to attend college or for a host of reasons.

According to 2018 statistics, only 7 homeowners moved from Red Fox Run. It’s a highly desirable neighborhood in a great place. There are plenty of reasons to stay in the neighborhood. It’s on the south-eastern side of Winchester, VA. Mall shopping, grocery shopping, auto or just about anything else you need to shop for is less than 5 minutes away in multiple directions. Five major highways are just as close.

Red Fox Run, Winchester, VA: Property Sales Value Increase

Red Fox Run is like most neighborhoods in the Winchester-Frederick County, VA real estate market. It saw challenges from foreclosures and short sales during the 2008-2013 recession, but it has continually improved in the years since. In the 2018, there wasn’t a single short sale or foreclosure reported.

Price appreciation is also showing good numbers. From the 2014 to 2018, home sale prices rose 15%. From 2017 to 2018, the market had an increase of 4.7% in home sale prices. Only one time since 2013 have values declined. In 2016, home sale prices dropped -2%, but the next year they increased 7.8%, and there has been a steady increase year to year for most of the past five years.

Another interesting statistic in Red Fox Run is the percentage of list price to sold price. Homes in Red Fox Run typically sell for near list price. The average home sold for 99.19 % of the list price in 2018. That may say a lot about how homes were priced at the time they were listed, but it may also say a lot about how much buyers are willing to pay to purchase in the neighborhood.

The 2018 days on the market were down to 42 from 82 the year before. The Winchester, VA real estate market shifted toward buyers in 2018, allowing homes to sit on the market a little longer because sellers weren’t ready to negotiate away their former market dominance. But, at the end of the year sellers still controlled the market in Red Fox Run.

Overall, Red Fox Run has a healthy year-end report. It offers, spacious homes, a variety of home styles on comfortable lots and lower traffic. It is not a pass-through to another area. For families with children, there are two elementary and one middle school within a mile. A new high school is planned to be built-in the area as Admiral Byrd Middle School and Evendale Elementary School. That means a child can start and finish school within walking distance of the neighborhood.

Red Fox Run, Winchester, VA is a highly desirable neighborhood with a lot of benefits. When you’re ready to buy, or ready to sell in the neighborhood, give me a call at Cornerstone Business Group, Inc., I am your neighborhood real estate sales pro.

This post was originally posted at www.cornerstonehomesales.com: Red Fox Run, Winchester, VA – 2018 Real Estate Market Review

 

Canter Estates, Stephens City, VA – Real Estate Year in Review – 2018

Canter Estates, Stephens City, VA – Real Estate Year in Review – 2018

Canter Estates, Stephens City, VA had a very good real estate year in 2018. The highly Canter Estates, Stephens City, VA - Real Estate Year in Review - 2018desirable community of homes had a 6.6% sales rate for the 2018 market year. The number of 2018 sales were a 16% increase over 2017. Ironically, 2018 was a -15% over 2016.

As the local markets began to heal from the 2008 recession, the percentage of change was all over the map. The 2018 market sales were 93% higher than 2015, but they were even higher over 2014. The percentage change over 2014 was 107%. That’s a pretty good sign of where the market was, and where it is today.

Canter Estates, Stephens City, VA: 2018 Sales by the Month.

I’m asked every year, “When is the best time to list my home.” My answer is basically, when you’re ready. Buyers buy all year-long. Let me show you what I mean. In Canter Estates, home sales have been consistent throughout the year.

As a matter of fact, home sale have done better in most cooler to cold months than in Canter Estates, Stephens City, VA - Real Estate Year in Review - 2018the warmer to hot months. Of the 29 sales, January, February, March and October made up 13 sales. That means 45% of total sales took place in the cooler to cold months. That blows a hole in the “list in the Spring because that is the best time to sell” theory. To be fair, April was also a very good month with 4 sales. If you add April to our list, those five months made up 59% of total sales. The warm months made up 38% of total sales for 2018.

Canter Estates, Stephens City, VA: Distressed Sales

Distressed sales still managed to show up in Canter Estates in 2018, but they were minor in comparison to the dog days of the recession. They did manage to be 6.9% of total sales. That number sounds huge until you learn that it was 2 out of 29 sales. That number does not show a trend or offer any form of caution about the future in Canter Estates.

Canter Estates, Stephens City, VA: Average Sales Price

The average home sale price in Canter Estates was $353,921. That was for a four bedroom – 3 bath (2.5 in most cases) home. For those considering a sale in the near to immediate future, that equates to $139.25 per square foot of value in your home. That number can help you learn what your home may sell for.

The average days on the market for a Canter Estates home was 60 days. Days on the market is an outlier number for most market updates. It can mean something, and it can mean absolutely nothing. There are so many factors that cause days on the market to be high or low that it is hard to use it as a precursor to a sale price.

A home can be priced to high, and it lingers on the market. A house can be in a less desirable place, and the days can add. A neighbor may have a barking dog that keeps a home in the market. A section of a street may have a high volume of teenagers who shoot basketball at all hours of the day and night. There are so many things that can influence days on the market that it is hard to use it when making an offer on a home.

The best advice for listing a home is to price it right, make sure it’s in great condition, keep it ready to show all the time, and trust the agent you hired to sell it. When you’re ready to sell your Canter Estates home, call me at Cornerstone Business Group, Inc., and I’ll put my decades of experience, my technological skills and my market understanding to work for you. Let’s have a great 2019 in Canter Estates.