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 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
The 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.