Canter Estates Subdivision, Stephens City, VA – Homes Sales – 2019

Canter Estates Subdivision, in Stephens City, VA, is a highly desirable and perfectly positioned subdivision in the Winchester-Frederick County, VA real estate market. It is located on the south-east side of Stephens City and just south of Winchester, VA. With access to Rt 66, Rt 50, Rt 522, Rt 7, Rt 340 and I81 just minutes away, it makes it the perfect place to live for commuters who are making the trek into the DC Metro area for work. The Winchester-Frederick area is a popular bedroom community for metropolitan commuters.

The neighborhood is made up of a variety of home styles, shapes and sizes. It is not a one- size-house fits all neighborhood that so many track-built neighborhoods reflect. It has a nice variety of home types with an equestrian flare. K Hovnanian and Ashbrooke Homes were two of the primary builders in the early stages of the subdivision.

Canter Estates Subdivision, Stephens City, VA - Homes Sales - 2019

The streets are named with different horse themes, such as: Clydesdale Dr, Corrall Dr, Brabrant Dr and Laredo Ct. The Winchester-Frederick-Clarke County areas are known for their horse farms. The streets of Canter Estates are a good reflection of those images.

Because of the high desirability of the neighborhood, residents rarely move. It has not been unusual to see a year where previously built home sales were in the single digits. When owners do decide to sell, home-buyers have to act fast to secure an available listing. There are currently three available homes for sale in Canter Estatesand one coming soon. There are also two pending sales.

Over the past six months, seven homes have sold in Canter Estates. The average sold property had four bedrooms and 2.5 baths. The average sold price was $334,399, and the average days on the market was 66. 

The neighborhood was hit heavily by the real estate downturn in the Fall of 2008, but it has shown incredible resilience. There has only been one foreclosure over the 2018-2019 real estate market thus far. The recession saw its greatest impact in 2010 and 2012, which each year had seven REOs. The recession came like a gentle wave, followed by a tidal-wave and then a quiet calm after the storm. That has been true of many neighborhoods in the area, but Canter Estates showed a much faster settling back into a healthy status than many. 

Canter Estates subdivision is part of the Stephens City, VA real estate market. Stephens City is part of the greater Winchester-Frederick. The Stephens City market boosts of 29% of total real estate sales in the area for 2018. When the size of the Stephens City market is factored in over the entire Winchester-Frederick County real estate market, that is incredible. No other area in the local market even comes close. 

Canter Estate home sales are healthy and growing and those who have had the privilege of buying in the community have been able to see their investments increase in value with time, while they enjoy the benefits of a great Frederick County neighborhood. 

When you’re ready to buy or sell in Canter Estates, give us a call. Cornerstone Business Group, Inc., is your local neighborhood sales pro for Canter Estates, Stephens City, VA

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Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018.

Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018.

Stephens City, Virginia may be the best kept secret in the north-west corner of Virginia, but some are discovering it. It accounted for 29% of the total Frederick County real estate market in 2018. That’s consistent with the 2017 real estate market. It was 29.8% of total Frederick County sales in 2017.

The Frederick County real estate market had 1386 sales in 2018, which was a 2.5% increase over 2017. Stephens City had 404 of those sales. The amazing thing about that volume of sales is that Stephens City is .57% of the total square miles Frederick County. At humble 2.4 square miles, Stephens City is a giant in real estate sales.

The location of this small community makes it prime for commuters, college students, families with children, people seeking 55 plus living, those needing assisted living facilities and just about anyone else who is looking for a comfortable small town feel with access to just about everything. Stephens City is bordered by Rt 11, Rt 522, Rt 340, Interstate 81 and Rt 37. Route 66 is a few short minutes south of town and it gives commuters a straight shot to travel into the DC Metro area.

Shenandoah University and Lord Fairfax Community College, which also hosts Old Dominion University courses, are on opposite ends of the community. That makes Stephens City a great place for those seeking a college degree. Also, James Madison University is a short 45 minute commute south of town.

Multiple new neighborhoods are under development and home-buyers are discovering this quaint and thriving area. On both the east and southern sides of Stephens City, new homes are going up as fast as builders can complete them.

Stephens City by the numbers: Existing vs New Construction

The average existing home sale in 2018 was $251,167. That is an affordable home price for many first-time buyers, as well as, move-up or scale back buyers. Those numbers are dramatically different when new construction is separated from the total sales.

New construction consisted of 43 home sales in 2018. Those homes sold at 101.4% over list price. The average new construction sale was $339,356. When you remove the 12 new construction townhouses from that number, the average detached new construction sale was $383,867. Here again, those homes sold over list at 102.5% of list.

Buyers just entering the real estate market may be better served buying an existing home, and not a new construction home, but the options are open in Stephens City, VA. A new townhouse averaged $233,677 in 2018, but an existing townhouse sale averaged $170,647.

Stephens City Available Homes: Existing and New Construction

Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018.There are now 73 homes available in the Stephens City real estate market. Twenty-eight of those are new construction. There are three new townhouses and twenty-five detached homes. The average list price of the total currently available homes in $289,726. Here again, that is a popular price range for a large percentage of the buying public.

Stephens City by the numbers: Distressed Properties

Distressed properties can have a large impact on a real estate market, but the volume of distressed properties in Stephens City, VA was steady at 5%. The distressed properties (foreclosures and short sales) for the entire Frederick County, VA real estate market was 4.8% in 2018. That is consistent with the neighboring counties and is no longer a major determining factor on local real estate sales.

Stephens City, Virginia is the jewel of Frederick County, VA. When you’re ready to buy or sell in the Stephens City, VA real estate market, give me a call and let’s make something great happen. Stephens City offers a lot with the comfortable sense of a small close-knit town.

 

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.

 

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.