Many parts of the Winchester real estate market experienced an increase in median sale prices in February, 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.

Median sale prices rose in most areas of the Winchester region in February, with Shenandoah County experiencing a 29 percent jump followed by Winchester City with a 28 percent increase. In Frederick County, the median sale price rose by 9 percent over the previous year and in Warren County it declined by 5 percent.

The number of homes sold fell in most of the Winchester region in February compared to the same month in 2016, though in Warren County it increased by 10 percent. In Shenandoah County, the number of homes sold declined by 5 percent, while Frederick County experienced an 11 percent decrease. In Winchester City, the number of homes sold declined by 32 percent in February.

Active inventory fell across the Winchester region, with Shenandoah County experiencing a decrease of 26 percent, followed by Warren County with a decrease of 22 percent. Frederick County experienced a 16 percent decline in active inventory, and in Winchester City it fell by 1 percent.

Homes in the Winchester area are continuing to sell at a steady pace according to February data. Winchester City saw the lowest days on market (DOM) average at just 16 days, followed by Frederick County at 50 days and Warren County at 65 days. Shenandoah County had a DOM average of 98 days.

“The United States economy continued to make gains in many areas in February, and at Long & Foster we saw positive indicators of growth in the real estate market as well, including in the Winchester area,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Sale prices of homes continued to rise for many in the Mid-Atlantic and Northeast regions and, with continued high demand for homes, we expect to see a busy spring season.”

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.