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 estate 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