Canter Estates, Stephens City, VA – Mid-Year Real Estate Update – 2018
The Canter Estates, Stephens City, VA mid-year real estate update for 2018 shows a community that is hitting all the right notes. The numbers that need to be up are up and those that need to be down are down. The trajectory of the community is on an upward path and a great 2018.
Canter Estates, Stephens City, VA: Growing Average Home Sale Prices
The average home sale price for the first six months of 2018 was $372,074. That is a 5% improvement from 2017 and a 19% increase in home sale prices since 2014. Each year since 2014, the average sale price has risen. The smallest rise was in 2015 at 1%, but increases have been from 4% in 2016 to 8% in 2018.
That’s good news for homeowners who have waited for right time to list their homes. The continued good news coming out of the real estate market should bolster seller’s confidence that now is a safe time to sell at a profit. The pains of the 2008 market collapse are no longer on the minds of homeowners, and that is justified. The new market is strong, steady and moving in the right direction. There are no whipsaw features built into it and sellers and buyers can enter the market with confidence that the market has reached a healthy place.
Canter Estates, Stephens City, VA: Distressed No More
One of the most encouraging numbers in the Canter Estates subdivision is the number of distressed properties that sold in the first six months of 2018. Distressed properties are made up of foreclosures and short sales. Canter Estates had zero (0) distressed sales the first six months of 2018. That is a pattern that has built for the past five years. The neighborhood has only had three in fives years. That is an incredible number when comparing Canter Estates to other Stephens City subdivisions.
One last number that is showing a good consistent pattern is days on the market. The average days on the market for the first six months of 2018 was 36. That is consistent with the past five years. Days on the market is an unusual marker for any market health survey. It can give a false view or a very right view of the market. There are many things that affect the DOM. Location, condition and price all affect the price and sale-ability of a home. If a home is in good condition, it’s priced well and it’s in a desirable area, it should sell quickly, and the Canter Estates DOM shows those three are right where they need to be.