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.

Wakeland Manor, Stephens City, VA – 2016 Real Estate Market Review

Wakeland Manor, Stephens City, VA – 2016 Real Estate Market Review

Wakeland Manor in Stephens City, VA, is one of the oldest and newest subdivisions in Wakeland Manor, Stephens City, VA - 2016 Real Estate Market Reviewthe Frederick County. Some homes date back to the 1970s and there is new construction going on today.

The community is made up of older ranch style houses, split foyers and newer two-story colonials and contemporary homes. There is also wonderful townhouse complex in the neighborhood. Wakeland Manor has a community center with a pool for residents. It is on the east side of Stephens City, which is a great place for commuters. Residents who live in Wakeland Manor have quick access to multiple highways leading in the DC Metro area and north and south into West Virginia and Maryland and the southern Shenandoah Valley.

Wakeland Manor by the numbers 2016

Wakeland Manor had a small pullback on home sales in 2016 as compared to 2015. There were 40 homes sold compared to 50 in 2015. Of those homes sold, the townhouse complex made up 13 of those homes. Those townhouses are large homes with spacious rooms and a contemporary style. The townhouse complex also has tennis courts and a basketball court for residents.

The average days on the market was up slightly from 2015. The average days on the market was 53 in 2016 and 43 in 2015. That’s not a major change. There is new construction at all corners of Stephens City, VA. That may have contributed to the days on the market. More options give buyers more time to make a decision.

The best numbers

The best numbers came in the average sale price of homes sold. In 2015, the average sale price was $269,692 and it was $272,037 in 2016. That’s not a huge number, but it is a number that is moving in the right direction. Wakeland Manor has something for every housing taste.

If you’re in the market to buy or sell in the Wakeland Manor area, give Mike Cooper a call. Mike is your local real estate sales pro.

 

Canter Estates, Stephens City, VA Real Estate Year in Review – 2016

Canter Estates, Stephens City, VA Real Estate Year in Review – 2016

Canter Estates is on the east side of Stephens City, VA. It’s a highly desirable Canter Estates, Stephens City, VA Real Estate Year in Review - 2016neighborhood with a variety of housing styles. Custom builders, such as, KHovnanian and Ashbrooke Homes have shared in the construction of many, if not most of the homes built there.

The neighborhood boarders Rt 522 which is a connecting highway between Rt 66, Rt 50, I81, Rt 55 and Rt 340 which makes Canter Estates a commuter’s dream. Within a few minutes, a homeowner who commutes into the DC Metro area can be on a highway leading to their destination. It also gives southern and northern commuters the same advantage.

Canter Estates by the numbers

Canter Estates saw an incredible jump in home sales in 2016. Homes sales were up 142% from 2015 with 29. The previous year saw 12. Distressed properties have not had a major market impact over the 2015-2016 market years.

In a unique phenomenon, 18 of the 29 homes sold in the first 6 months. Eleven homes were sold from July through December. March and November saw no home sales. There is no simple explanation for those stats.

More good numbers

Canter Estates real estate did see some similarities with 2015. The average days on the market were 28 in 2016 and 32 in 2015. Also, the average sale price for 2016 was $304,732, and the average for 2015 was $302,383. These numbers show no real change.

The average sale in 2016 was a 4 bedroom – 2.5 baths home. Two of the 29 sales were homes constructed in 2016, but the average year of construction was 2004. New construction continues to appear on the Canter Estates landscape. Canter Estates gives buyers the advantage of feeling like they are living in a quiet comfortable rural area while having access to all city amenities within minutes.

If you’re in the market to buy or sell in this great neighborhood, 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.