May 201718

Home Sales Rose in Much of the Winchester Market in April 2017

May 201718

Home Sales Rose in Much of the Winchester Market in April 2017

Market Minute Logo 2017Much of the Winchester real estate market experienced an increase in the number of homes sold in April, according to The Long & Foster Market Minute reports. The greater Winchester, Virginia, real estate market includes Frederick, Shenandoah and Warren counties and the city of Winchester. The Long & Foster Market Minute reports are based on data provided by the Metropolitan Regional Information System and its member association of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

Winchester MM April2017

The number of homes sold increased in most parts of the Winchester region in April compared to the same month in 2016, rising by 64 percent in Winchester City. In Warren County, the number of homes sold increased by 45 percent, while Frederick County experienced a 12 percent increase. In Shenandoah County, the number of homes sold declined by 17 percent in April.

Median sale prices rose in many areas of the Winchester region in April as well, with Winchester City experiencing a 28 percent jump followed by Warren County with an 8 percent increase. In Shenandoah County, the median sale price rose by 6 percent over the previous year, and in Frederick County it declined by 2 percent.

Active inventory fell across the Winchester region in April, with Winchester City experiencing a decrease of 35 percent, followed by Shenandoah County with a decrease of 27 percent. Warren County experienced a 19 percent decline in active inventory, and in Frederick County it fell by 17 percent.

Homes in much of the Winchester area sold at a steady pace according to April data. Warren County saw the lowest days on market (DOM) average at just 44 days, followed by Frederick County at 60 days and Winchester City at 64 days. Shenandoah County had a DOM average of 97 days.

“April was a solid month at Long & Foster and, despite the lacking inventory that most areas are experiencing, we saw numerous positive indicators of growth in the real estate market, including in the Winchester region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Market conditions are creating a lot of competition for homes, but we know our family of experienced, professional agents can help homebuyers succeed in finding not only a place to live, but a home they’ll love.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.    Information included in this report is based on data supplied by MRIS, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate.