Winchester – Frederick County, VA Real Estate Report – October 2016

The Winchester – Frederick County, VA real estate market had a good October, but it did struggle with one issue. The election. Home buyers and sellers sat home through much of October, but once the election was over, they hit the housing market again.

Winchester – Frederick County, VA Real Estate Market: By the numbers

The 2016 total sales were down 20 homes from 2015. That isn’t significant, but it is a reflection of the 2016 national deep breath that preceded the election. Now that the election is over, buyers and sellers are back in the market.

The Winchester – Frederick County, VA real estate market followed the same pattern during the 2012 election cycle. There was a considerable slowdown in real estate sales in the months leading up to election day, and sales increased to a normal volume immediately following election day.

The total sales for Winchester – Frederick County, VA came in at 141, with Frederick County bringing in 79% of those sales. That is consistent with 2015 with Frederick County matching that number exactly. The City of Winchester is substantially smaller than Frederick County, and the numbers show that.

Winchester – Frederick County, VA Real Estate Market: Good news numbers

The good news in the local market through October 2016 is the number of distressed properties. The overall number has declined all year as the real Winchester - Frederick County, VA Real Estate Report - October 2016estate market improves,. There was a 9% drop from a year ago. That is good news. Only 5 distressed properties were sold in October 2016.

The other numbers that showed improvement were the days on the market and average sales price. The days on the market was 70, a 10 day drop from 2015. The average sales price rose to $250,985. That is a $2784 average change from 2015. It is not a real big difference, but it is a number that is heading in the right direction.

The Winchester – Frederick County, VA real estate market has been showing a steady improvement throughout the year. Both buyers and sellers are taking advantage of the new normal. The statistics for 2016 are setting up 2017 to be a banner year for local real estate.

When you’re ready to buy or sell in the Winchester – Frederick County, VA real estate market, give Cornerstone Business Group, Inc., a call. We are you local real estate sales pros.

Winchester – Frederick County, VA Real Estate Report – October 2016

Townhouses in Stephens City, VA Make a Great Option for Buyers

Townhouses in Stephens City, VA Make a Great Option for Buyers

Townhouses in Stephens City, VA made up 9% of the most recent September sales Townhouses in Stephens City, VAin the Stephens City real estate market. They are a great alternative to detached single family homes. They tend to offer ample space, less maintenance and are often less expensive. For the busy home-buyer, a Stephens City townhouse might be just the option they are looking for. When you’re ready to buy or sell a Stephens City, VA townhouse, give Mike Cooper a call, Mike is your local real estate sales pro.

Click below to view the most recent list of townhouses in Stephens City, VA:

Available Townhouses

Home Sales in Stephens City, VA – Third Quarter 2016

Home sales in Stephens City, VA – Third Quarter 2016

Home sales in Stephens City, VA continued their upward trend in the third quarter of 2016. Stephens City, VA real estate sales made up 23% of the Winchester – Frederick County, VA real estate sales for the same period.

Home sales in Stephens City, VA were down 9% from the same period in 2015. That is a reflection of the broader market from 2015 to 2016. The overall Winchester – Frederick Co., VA real estate market dropped 3% year to year.

Home Sales in Stephens City, VA – Lateral Moves Mixed with Positive Numbers

There were positive numbers mixed with a number of lateral moves in the Stephens Home sales in Stephens City, VA City, VA real estate market. Distressed properties were down 2% from 2015, but at 7% and 9%, that is a near lateral move year to year. The same is true of the days on the market. The 2015 days on the market was 42 with 2016 being 46. The near lateral move tells more about the move to a healthy market in 2015 than a declining market in 2016.

The most positive number in 2016 relates to the average sales price. The average sales price of a home in the Stephens City, VA real estate market was $253,534 compared to $227,565 in 2015. That is a 10% increase in home values year to year.

Homes Sales in Stephens City, VA – New Construction Helps Fuel the Growth

Home sales in Stephens City, VAThe number of new homes in the current quarter was 10% of over all sales. More than 14% of the home sales in the Stephens City, VA market were less than two years old. The market is building up on multiple fronts. The number of new subdivision homes is increasing as the real estate market continues to improve. Ironically, even with the new construction, the average home sold was build in 1995.

The average home sale included three bedrooms and two and one-half baths. Townhouses made up nearly a third of total homes sold in the third quarter. Colonial properties were half of the total homes sales at 54, and ranch homes were 21. The Stephens City, VA real estate market continues to be the epi-center of concentrated growth in the Winchester – Frederick County, VA real estate market.

When you’re ready to sell or buy a home in the Stephens City, VA area, be sure to give Mike Cooper, principal broker at Cornerstone Business Group, Inc., a call. Mike is your local real estate sales pro.

 

How is the Winchester – Frederick Co., VA real estate market doing?

How is the Winchester – Frederick Co., VA real estate market doing? Third quarter 2016.

How is the Winchester – Frederick Co., VA real estate market doing in the third quarter 2016? That depends on what gets you excited about real estate. The market is basically equal to a year ago. The few minor changes from the third quarter of 2015 and the third quarter of 2016 are minimal, but they are mostly positive changes.

Lateral Movement is Better Than a Decline in the Winchester – Frederick Co. Real Estate

Third quarter sales were down slightly in 2016. There were 498 in 2015 and 482 in How is the Winchester - Frederick Co., VA real estate market doing? Third quarter 2016.2016. The 3% drop in sales isn’t significant. If that number doubled over the next quarter, it might be something worth watching, but a minor shift like that is not “concern” worry at this point.

July – August home sales tend to bring the market down slightly because there are not as many buyers in the market during the summer months. There are a lot more tire-kickers than other periods in the local market, but there are fewer buyers who feel under pressure to buy a home. Families are on vacation, students are out of school, and people are traveling. All of those affect summer sales.

The Positive News in the Winchester – Frederick Co., Real Estate Market

The more positive numbers year to year are also minor changes, but they are numbers that are trending up. The numbers of distressed property sales are down 2% year to year. The local monthly average of distressed sales in the Winchester – Frederick Co., VA real estate market has trended down from the beginning of 2016. The first six months averaged 9% distressed properties, but the third quarter has moved to 8%. Here again, that’s not significant, but the trend is moving the right way.

Small, but encouraging numbers in the Winchester – Frederick Co., real estate market.

Another small but encouraging change has been in days on the market. The average days on the market for the third quarter was 59 which is a slight change from 64 in 2015. The biggest change has been in the average sales price. The average sales price for the third quarter of 2016 was $268783. That number was $255,481 in 2015.

You can see that the Winchester – Frederick Co., VA real estate market has reached point where changes, even small changes, are more positive than negative. The trend in the current market has returned to a healthy slowly moving upward trend. The 2003-2008 real estate market shot up like a rocket and passed the point of balance in value. That caused that market to be ripe for a downturn, and when it fell, it fell faster than it ascended.

The current market is making a slow steady rise. Healthy markets move in that pattern. For both buyers and sellers, the Winchester – Frederick Co., VA real estate market has reached a point of equilibrium that can protect both groups. When you’re ready to buy or sell in the Winchester – Frederick Co., VA real estate market, give Mike Cooper, your local real estate sales pro a call.