Winchester-Frederick County, VA Real Estate Market Report – May 2016
The Winchester-Frederick County, VA real estate market – May 2016 is gaining momentum to have the best year since the recession began in 2008. The market has increased 10.5% over the same period last year, and distressed properties continue to decline.
The 2015 distressed properties were 9% of total sales, where the 2016 distressed sales are at 8%. That may not seem significant until you compare that with the number of properties sold. The total sales in May 2015 were 153 and the total in May 2016 is 171. That 18 sale difference makes up the 10.5% sales increase.
Stephens City, VA Continues to Become a Real Estate Powerhouse
Based on local zip codes, Winchester 22602 and Stephens City 22655 are carrying the highest number of overall sales in May. Winchester 22602 had the exact number of sales at 48 as the five year average. Stephens City 22655 exceeded its five year average by 13. Stephen City 22655 also exceeded its five year active listings by 23%.
There is a considerable trend forming in the Stephens City 22655 area. Sales are up, pending sales are up, listings are up and the months supply of available properties is up slightly. The growth in new construction of homes, schools and shopping have pushed Stephens City forward in the Winchester-Frederick County, VA real estate market.
With that information, it would be easy to assume the Stephens City area also has the most growth in pricing trends. It does not. The 22603 area zip code is the fastest growing price trend in the Winchester/Frederick County, VA real estate market. It doesn’t matter what part of the Winchester-Frederick County real estate market you’re in, good things are happening.
Days on the market in the Winchester-Frederick County, VA Real estate Market – May 2016
Homes are not staying on the market very long in most areas of the Winchester/Frederick County, VA area. The only zip code with longer DOMP is the 22603 Winchester zip code. There were fewer homes on the market in that area through May. Clear Brook and Cross Junction have the lowest days on the market with 9 and 6 respectively. The 22603 area, mostly north of Winchester City ran 142 DOMP. Stephens City and the Winchester 22602 areas had 17 and 31.
Lower inventory, lower interest rates, and lower days on the market are all good signs that buyers are out in force and sellers are getting a little more of what they want. Overall, all signs are positive and moving in the right direction. The Winchester-Frederick County, VA real estate market is healthy again. When you are ready to buy or sell in the Winchester-Frederick County, VA real estate market, give your Cornerstone Business Group, Inc., agent a call. We are your local real estate sales pros.
Winchester-Frederick County, VA Real Estate Market Report for May 2016