The Stephens City, VA real estate market continues to impress.
The Stephens City, VA real estate market continues to impress as 2016 marches on. The August sales volume was 33 sales with only one short sale. Distressed property sales have nearly fallen off of the Stephens City, VA real estate market.
July sales also saw a decrease in distressed property sales. The overall Winchester – Frederick County, VA real estate market has maintained a 7% average with 12 distressed sales, but that is a pretty consistent number in an average market. The Stephens City, VA real estate market only contributed 1 short sale to that overall number.
How did the August market breakdown?
The number of new listings added to the Stephens City, VA real estate market was 32. The combined total listings for August were 120. There were 20 homes that went under contract, 14 new contingent contracts and 34 new pending contracts. New pending sales were down 8.11% from the same period in 2015, but that coincides with less new listings year to year.
More positive news on the Stephens City, VA real state market.
Another positive number in the Stephens City, VA real estate market is the days on the market. The average days on the market for August was only 34 days. That is down 36% from July and it’s down 25% in the overall Winchester – Frederick County, VA market. The broader market is hovering at 45 days on the market.
Nine homes sold in the first 10 days of their activity on the market. The next highest number was in the 31-60 days with 8 sales. A home that is in good condition, priced well and is easy to see will likely sell quickly.
Of the 33 sales, the average list price to sale price was 3.3%. Even a well priced home may have some room for negotiation. A savvy buyer is going to know what the comparable sales have been in the market he/she is buying in.
One negative change, but don’t panic.
The only negative change in the Stephens City, VA real estate market is the average sale price. The average sale price dropped to $243,005 from $263760 in July. That change is most likely attributed to the largest sales price in July compared to August. The July largest sales price was $698,870 while August was $399,990.
When you’re ready to buy, give Stephens City, VA a good look.
When you’re ready to buy in the Winchester – Frederick County, VA real estate market, give the Stephens City, VA real estate market a good look. It continues to impress. When that day comes, make sure to call Mike Cooper at Cornerstone Business Group, Inc. Cornerstone is your local real estate sales pro.