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.

 

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Wakeland Manor, Stephens City, VA Real Estate Market Report – 2017

Wakeland Manor, Stephens City, VA Real Estate Market Report – 2017

Wakeland Manor, Stephens City, VA is a unique neighborhood of old and new and different. It is made up of older homes from the early to late seventies and more recent construction. It also has a section of luxury townhouses that are spacious and attractive.

The townhouse area has its own playground, tennis courts and a basketball court. In the newer section of detached homes there is a swimming pool that is available to residents. The newer section also has a community center. There are few areas in the Winchester-Frederick County real estate market that match Wakeland Manor amenities.

Wakeland Manor, Stephens City, VA Real Estate Market: The good news

The Wakeland Manor real estate market has two markets running on parallel tracks. Wakeland Manor, Stephens City, VA Real Estate Market Report - 2017The townhouse complex constitutes one market and the detached homes covers the the other one. Even there, the older homes are a market unto themselves. When you look at the market as a whole, the average sale price for 2017 was $260,454. Remove the townhouses from that and the average sales price was $302,489. The townhouse average sales price for 2017 was $215,617.

There were 62 combined sales in 2017. The detached homes sales made up 32 of those sales. In the combined number, there were 4 distressed properties. Each parallel track had 2. In all areas of Wakeland Manor, the real estate recession of 2008 caused a substantial drop in home values.

The 2007 home average sales price was $299,280 compared to the $260,454 today. That is a 13% drop in value over that 10 year period, but that is in line with the broader Winchester-Frederick County, VA market. The average, market-wide, is still 12% below the 2007 market. When you consider that the overall market took a 37% hit in 2008-2009, the recovery is fighting its way back to the pre-recession values.

Wakeland Manor, Stephens City, VA Real Estate Market: Distressed Properties

The continuing improvement in the Wakeland Manor real estate market is also seen in the number of distressed properties. Distressed properties are short sales and foreclosures. Both types can hurt home values when the numbers are high. In 2013, the total number of distressed properties were 25% of total market sales in Wakeland Manor. When those sales, which tend to be lower, are factored into area property values, they tend to reduce property values on a broad scale.

The 2017 distressed property sales in Wakeland Manor were 6.5%. That is in line with the overall Winchester-Frederick County, VA real estate market. This is an area that has been showing signs of improvement since 2013. From 2010-2012, distressed properties averaged 30% in Wakeland Manor. From 2014-2017, distressed properties averaged 7.25%. That leaves 2013 as the last dismal month for distressed property sales. That’s a good sign of an improving neighborhood economy.

When you’re ready to buy or sell in Wakeland Manor, give Cornerstone Business Group, Inc. a call. We are your local real estate sales pros, and we’re here to help make some great happen.

 

 

 

 

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.