November 2017 Real Estate Report – Winchester-Frederick County, VA
The Winchester-Frederick County, VA November 2017 real estate report is not sexy. Actually, it’s down right boring, but this is one time when boring is a good thing. The market saw 126 sales in November 2017. Of those sales, 8% were distressed properties. November 2016 saw 7% distressed properties. In comparison, 2015 was 18.4%. The current number is a far cry from 2015, and it is more consistent with a much healthier market.
November 2017 Real Estate Report: By the numbers
The average days on the market were down to 59. Again, that’s a good number when compared to 2016, which was 111. But, if you factor in 2015, at 64 days, the market is slightly below average in days on the market, but this is one time when below average is good.
The average price of November sales pulled back slightly from 2016, but it was up as compared to 2015. The average 2017 sales price was $251,004. The 2016 average was $267,143 and 2015 was $245,016. The difference from 2015 and 2017 is only 2%. That is nominal.
The Winchester-Frederick County, VA November real estate market has reached a healthy place. The current November 2017 sales were 14% off of the 2007 market which was heading toward recession. The price pull back in 2008-2009 created a 37% deficit in home prices. At 14% below 2007, the market has reached a sustainable true value, rather than the inflated value of the pre-recession market.
Homeowners in the Winchester-Frederick County, VA real estate market have a lot of to be thankful at the end of 2017. The market is stable, distressed properties have leveled off and prices are up and days on the market are down. What is not to love? It’s not sexy, but it is healthy.