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.

 

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.