Oct 201421

Median Sale Prices Increase in Some Areas of the Winchester Market in September 2014

Oct 201421

Median Sale Prices Increase in Some Areas of the Winchester Market in September 2014

Market Minute LogoThe greater Winchester, Va., real estate market, including Frederick, Shenandoah and Warren counties and the city of Winchester, experienced positive trends in September, according to The Long & Foster Market Minute reports. The September data showed that median sale prices increased in a number of areas, and homes continue to sell at a steady pace in most of the region.

The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

Winchester MM Sept 2014

In September, the median sale price increased in some areas of the Winchester region. Shenandoah County experienced a 10 percent jump in median sale price and Warren County saw a 6 percent improvement. The median sale price decreased by 9 percent in Frederick County, and Winchester City saw a decrease of 10 percent.

The number of homes sold varied throughout the Winchester region in September compared to the same month in 2013. Winchester City experienced an increase of 32 percent, and Warren County saw no change in the number of homes sold. Shenandoah and Frederick counties experienced declines of 11 percent and 15 percent, respectively.

Homes in the Winchester area are continuing to sell at a solid pace according to September data. Warren County experienced a days on market (DOM) average of 62 days, followed by Winchester City at an average of 64 DOM. Frederick County saw a DOM of 67 days and Shenandoah County experienced a DOM average of 116 days.

Active inventory in the region decreased by 13 percent in Winchester City and 1 percent in Shenandoah County. It increased by 6 percent in Frederick County and rose by 10 percent in Warren County.

“September brought good news to many areas of the Mid-Atlantic real estate market, including in the Winchester region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Median sale prices have risen in many areas and growing inventory means homebuyers have more options to choose from. We anticipate more improvements in the months ahead.”

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 users can subscribe to free updates for the reports in which they’re interested.