Canter Estates Subdivision in Stephens City, VA – Real Estate Review – 2017

Canter Estates Subdivision in Stephens City, VA – Real Estate Review – 2017

The Canter Estates subdivision in Stephens City, VA had a solid real estate market in 2017. Like many of its neighboring subdivisions, all the right numbers are up, and the unwanted numbers are down. That is consistent with the broader Frederick County, VA real estate market.

Canter Estates Subdivision in Stephens City, VA: Good numbers

The good numbers in the Canter Estate subdivision are price, distressed properties and Canter Estates Subdivision in Stephens City, VA - Real Estate Review - 2017days on the market. The average home sale in 2017 was $330,386. That is a 4% increase in sales price. Where the average sales price really shines is in the growth over the past five years. There is a 12% improvement in average sales price from 2013.

Each year since 2013, the average sales price has inched its way into positive territory. The average sale price in 2013 was $290,836, $301,240 in 2014, $311,423 in 2015 and $316,874 in 2016. Each year since 2012, an incremental change has taken place that has helped the Canter Estates subdivision regain its prominent place as one of the most desirable neighborhoods in Stephens City, VA.

Homeowners who purchased before the 2008 recession are finally seeing their value come back to near pre-recession values. There is still improvements to be made before the subdivision completely returns to those days of sometimes inflated values, but as of January 1, 2018, the average home sale price is still 10% below the 2007 market average. The local real estate market took a 37% hit with the market collapse in 2008.

Canter Estates Subdivision in Stephens City, VA: More good numbers

Distressed properties are a sign of a market in trouble. The 2017 distressed properties in the Canter Estates subdivision was 12.5%. That is higher than the local market average, but it may be more of an anomaly than a trend. It may also be the last heaving of the past market collapse.

The 2016 distressed number was 3%. That is a below average number. Also, in 2015 Canter Estates Subdivision in Stephens City, VA - Real Estate Review - 2017there were no distressed properties. But from 2014 backward gives a view where the market went during the downturn and where it is today. Those numbers were:

  • 2014 – 14.3%
  • 2013 – 20%
  • 2012 – 46%
  • 2011 – 33%
  • 2010 – 56%
  • 2009 – 30%.

In those numbers, you can see the wild ride the neighborhood had during the down days of the recession. The 12.5% number for 2017 is consistent with the whiplash nature of distressed property sales in the Canter Estates subdivision, but the overall market has made monumental improvements in the past five years, and this neighborhood is no different in those improvements.

Days on the market have been consistent over the past five years with only slight deviations along the way. The 2017 average was 35 days. That is two days above 2016, but here again, it is nominal. There is no changing trend to point to while trying to form an opinion of effect.

Overall, the Canter Estates subdivision is a highly desirable neighborhood with beautiful large homes of many styles. It is close to multiple highways which make it a great place for commuters to live. It is also a sprawling neighborhood with large yards, sidewalks for evening strolls and quick access to shopping, schools and parks.

When you’re ready to buy or sell in the Canter Estates subdivision, give Cornerstone Business Group, Inc. a call. We are your local real estate sales pros and we’re here to help you succeed.

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Winchester-Frederick Co., VA Real Estate Market in Review – 2017

 

 

 

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Winchester-Frederick County, VA Home Sales for the First Third of 2017

Winchester-Frederick County, VA Home Sales for the First Third of 2017

The Winchester-Frederick County, VA home sales for the first third of 2017 have been Winchester-Frederick County, VA Home Sales for the First Third of 2017on a consistent growth trajectory. Sales have climbed 4% year to year, and there was a 2% drop in distressed property sales.  Currently, distressed property sales make up 9% of total sales,  and that has become an average based on total yearly sales for the past two years. The first third of 2016 included 11% distressed sales. It’s encouraging to see distressed property sales finding a floor after the high numbers during the recession.

Average Prices of Winchester-Frederick County, VA Home Sales

The average home price has also increased in the first third of 2017. Home prices have risen 4% over those of 2016. That brings the average home price to $256,607. The increase equates to $10,343 in 2017.  That is good news for sellers in both Winchester and Frederick County.

Home prices increase when inventory is low, and the current market has a “thinventory.” There are now 546 homes available on the Winchester-Frederick County, VA real estate market. The market operates best when the available homes average in the 500-600 range with the 500-550 range being the most aggressive and active.

In the summer of 2014, the market saw a large increase of available homes, and the market slowed considerably. The market today, is fast-moving and active with a high number of buyers and a low number of homes. It is becoming a seller’s market. That combination pushes the market up with multiple offers on many homes.

Where’s the highest level of activity

The Winchester-Frederick County, VA real estate market is made up of Winchester City and multiple communities which make up Frederick County. Frederick County surrounds Winchester City. On the southern side of Winchester is a small, but rapidly growing, community called Stephens City.

Stephens City is a perfect place for those who want quick access to just about anything and everything, but they don’t want the busyness of a bigger city. Multiple major highways pass through Stephens City, and some of those highways lead into the Washington, D. C. area. That has helped Stephens City, VA become a bustling bedroom community for the metro area, as well as, for Winchester-Frederick County.

Stephens City, VA made up 23% of the first third of 2017 real estate sales. That is down 2% from 2016, but that is negligible. A high volume of new homes are being built in the Stephens City area and more are projected throughout 2017. Of the 546 available homes in the Winchester-Frederick County, VA real estate market, 15% of those are available in the Stephens City area.

The Winchester-Frederick County, VA home sales are on track for another banner year.

For those watching the real estate market in Winchester-Frederick County, VA, you can breathe a sigh of relief. It looks like we’re back on track for another banner year. The dark days of the 2008 and beyond the recession genuinely seem to be behind us, and the future looks bright.

When you’re ready to buy or sell in the Winchester-Frederick County real estate market, be sure to give Cornerstone Business Group, Inc., a call. We are your local real estate sales pros.