Stephens City, VA Real Estate Update – July 2016
The Stephens City, VA real estate market made up 27% of all Winchester-Frederick County, VA real estate sales in the month of July 2016. That’s substantial. The entire local market had 157 sales. The Stephens City, VA real estate market had 42 sales.
The Stephens City, VA real estate market is more evidence that the local market has turned the corner from the dog days of the recession. Since 2008, the Winchester-Frederick County, VA markets have had years that were more like a slug-fest than a buyer or seller’s market. The local markets dropped 33% on average during the early days of the recession, but July’s statistics prove the markets have returned to a healthy profitability.
Stephens City, VA real estate sales have moved away from distressed properties.
The total sales in the Stephens City, VA real estate market is just one positive indicator of the health of that market. Another positive number is the number of foreclosures and short sales. Combined, they are down to 5% in the Stephens City, VA real estate market. There was only 1 foreclosure and 1 short sale in July. Incredible!
The “days on the market” are down from the over all market. The Winchester-Frederick County, VA market for July averaged 61 DOM, but the Stephens City, VA real estate market averaged 53. That tells me that a seller in the Stephens City, VA real estate market is more likely to sell his/her home sooner than a seller in other parts of the area.
Average days down, average price up
The average price for July 2016 was $267,563. That number was made up of 10 townhouse sales and 32 single family homes. The good news in the Stephens City, VA market is that you can buy a home at a reasonable price. Houses sell sooner, and sellers can receive their proceeds sooner and be on their way to their next home purchase, and it’s all done in the healthiest market in the Winchester-Frederick County, VA community.
When you’re ready to make a Stephens City, VA home purchase, or you’re ready to list your Stephens City, VA home, make sure to give Mike Cooper a call at the Cornerstone Business Group, Inc. We are your local real estate sales pros, and well work hard to make good things happen.