Winchester, VA Real Estate Sales
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Winchester-Frederick County, VA Real Estate Market Update – May 2017

June 11th, 2017 by Mike Cooper

Winchester-Frederick County, VA Real Estate Market Update – May 2017

The Winchester-Frederick County, VA real estate market continued to strengthen in May 2017. Sales are up, prices are up, distressed properties and days on the market are down. Those are all great details for sellers in the Winchester-Frederick County, VA real estate market.

The current inventory of available homes in the Winchester-Frederick County, VA real estate market is steady at 531. The local market thrives in the 500-600 available homes range and this market is thriving. The number of pending sales is at 283.

Winchester-Frederick County, VA Real Estate Market by the Numbers

There were 182 home sales in May 2017. That compares to 178 in 2016, 153 in 2015, and Winchester-Frederick County, VA Real Estate Market Update - May 2017154 in 2014. The trend is up and so is the average sales price. The average sales price for May 2017 was $282,698, compared to $274,080 in 2016, but if you go back to 2015, the number increases. The May 2015 sales price average was $242,980. The nearly $40,000 improvement in the May 2017 sales price is good news for current sellers.

Days on the market has stayed steady for the past three years. Currently, the average days on the market is 62. Compared to 2014, that is a 38 day shorter time on the market. Another exciting piece of news for the current real estate Winchester-Frederick County, VA Real Estate Market Update - May 2017market is the number distressed sales in May 2017. There were only 6 distressed sales in May 2017. That is 3.3% of the total sales. That is extremely good news. The market has recovered from the worst days of the recession, and buyers are flooding back into the market. Sellers can list their homes in the current Winchester-Frederick County, VA real estate market knowing that the trend is on their side.

Winchester-Frederick County, VA Real Estate Market – Strongest Areas

Three areas in the Winchester-Frederick County, VA real estate market made up 73% of total sales for May 2017. Winchester City (22601), Frederick County (22602) and Stephens City (22655). The 22602 area code made up 54 of total May sales, followed by 22601 at 44 and 22655 at 39. Stephens City made up 22% overall sales for the month of May. Stephens City has become the fastest growing area of the Winchester-Frederick County, VA real estate market for the past year.

There is a great deal of new construction in the Stephens City market. Businesses are moving into that segment of the market, as well. Stephens City, as a part of the Frederick County real estate market, is giving home buyers and sellers a glimpse into the market. It continues to drive sales, building and remodeling for the community. It’s quick access to a variety of major highways make it a great place commuters, and yet it offers a small town feel with a growing access to the amenities of a larger city.

The Winchester-Frederick County, VA real estate market is healthy and prospering. When you’re ready to sell your home, be sure to call Cornerstone Business Group, Inc., for a free home value analysis. We would be happy to offer one to you, and when you’re ready to buy, we’ve got you covered there too. We are your local real estate sales pros.

This post was originally posted at www.winchestervarealestate.com: Winchester-Frederick County, VA Real Estate Market Update – May 2017. #mikecoopersellshomes, #cornerstonehomesales, #winchesterhomesales, #yourlocalrealestatesalespros.

Winchester, VA Real Estate Market – January 2016

February 26th, 2016 by Mike Cooper

The Winchester, VA real estate market cleared a huge hurdle in January 2016. The number of distressed properties fell to 5% of the total market sales for the the month. That may sound like a lot, but that is more of an average number across the wide Winchester, VA real estate market.

The total number of distressed sales (short sales and foreclosures) in January2015 were 18%. A drop to 5% year to year is incredible. There were no disclosed short sales in the local market according to January 2016 MLS record. Foreclosures made up the full 5% (4) for the month.

The low level of distressed properties may be bad news for bargain hunters and house flippers, but it is great news for home sellers and buyers. Home sellers can anticipate more consistent prices and less volatility, and home buyers can expect better appraisals and home values on the purchases they are making.

There were 81 properties sold in the Winchester, VA real estate market in January 2016. The average sale price for a single family home was $247600, and the average days on the market was 74. Days on the market has crept up slightly over the past 18 months, but it hasn’t entered into an area of concern. A boost in the number of available homes in July of 2014 carried through until the Winter of 2015. The number of available properties extended the length of time a home sat on the market.

Today, the number of available homes has returned to the pre-July 2014 numbers (518). The lower inventory will likely spur more aggressive buying in the immediate future. A recent RealtyTrac study revealed that October was the best month to buy a home. It was followed by February, December and January.

Now is the time to get that house on the market folks. When you’re ready to sell, or buy, make sure to call your Cornerstone Business Group, Inc., agent because we are you local real estate sales pros.

Winchester, VA real estate market in January 2016

Stephens City, Virginia Real Estate Video Market Report: June 2014

July 9th, 2014 by Mike Cooper

Winchester, Virginia Video Market Report for 22602: June 2014

July 8th, 2014 by Mike Cooper

June 2014 Winchester, Virginia Real Estate Market Video

July 6th, 2014 by Mike Cooper

Winchester, VA Real Estate Market: 1st Six Months 2014

June 29th, 2014 by Mike Cooper

Winchester, VA Real Estate Market: 1st Six Months 2014

The Winchester, Virginia real estate market is shifting away from distressed properties to fair market sales, and that’s good news for home sellers. Distressed sales dropped 42% from 2013. The first six months of 2014 did show a 6% decline in total sales from the same period in 2013, but that may be attributed to the extreme weather of the first quarter of 2014.

The total sales for the first six months of 2014 totaled 682 with 15% distressed sales. The 2013 sales were 723 with 25% distressed Market Update 1st 6 Months 2014sales. Short sales saw the biggest decline with a 39% drop from the previous year. Foreclosures fell 32% in 2014. The reduction in distressed sales will help the market gain value lost in the recession of 2008.

The trend is becoming favorable for sellers, but there is another twist to this market story. The local inventory is high at 742 available listings. A more robust market would have an inventory in the 535-575 range. That provides enough options for buyers without overwhelming the market. 

The improvements in the local economy have helped sellers who sat on the sidelines since 2008 get in the game. Many homeowners were waiting for market prices to catch up with their current mortgage debt. It has taken six years from the market collapse to see sufficient improvements in local housing prices for many sellers to “be able” to sell. 

The reduction in overall distressed sales may be the best indicator of current market health. If inventories decline in the immediate future, sellers will be able to demand higher selling prices. For now, they have a lot of competition, but at least homes are selling, and that’s a great relief for all. 

Winchester, VA Real Estate Market: 1st Six Months 2014

Winchester, VA Real Estate Market Video for May 2014

June 6th, 2014 by Mike Cooper

View Mike Cooper’s Market Videos

Originally posted at www.winchestervarealestate.com

Winchester, VA Real Estate Market Report: April 2014

May 6th, 2014 by Mike Cooper

Winchester, VA Real Estate Market: First Quarter 2014

May 3rd, 2014 by Mike Cooper

Winchester, VA Real Estate Market: First Quarter 2014

The Winchester, VA real estate market took a hit from the extended winter weather, but it’s not nearly as bad as you might think. Nationwide, the real estate has been mixed this year. There are pockets that are on fire, and there are areas that haven’t adequately recovered from the recession. Winchester, VA real estate has made a slow, but steady, climb out of the recession. The number for foreclosures and short sales sold in the first quarter have dropped from the 2013 numbers. In 2013, short sales made up 9% of the overall sales in the first quarter. That number dropped to 4.5% in the first quarter of 2014. That’s a substantial movement year to year.

Distressed Sales 1st Quarter 2014

Winchester, VA Real Estate Sales: 1st Quarter 2014

Another positive change has been in foreclosures. Foreclosures in the first quarter of 2013 were 21% of overall sales. There has been a noticeable drop in the first quarter of 2014 to 15%. That’s a great sign. A year to year change of a 31% drop in foreclosures with 48% drop in short sales is a sign of a market seeking equilibrium. The first quarter total sales were down 17% from 2013, but the weather is most likely the biggest reason for that. Snow as still falling in early April. Last year at that same time, the Winchester, VA real estate market was in full swing with one of the hottest Springs since the recession began. Distressed properties (short sales and foreclosures) made up 20% of all sales in the first quarter. In the first quarter of 2013, distressed properties totaled 30% of all sales. You can see the trend changing from distressed properties to standard fair market sales. Even if sales are down slightly, the sales that are taking place are moving toward fair market and away from distressed sales.

 Winchester, VA Real Estate Market: First Quarter 2014

Originally posted at: http://activerain.trulia.com/blogsview/4385809/winchester–va-real-estate-market–first-quarter-2014#17801681