Many parts of the Winchester real estate market experienced an increase in median sale prices in January, 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 Metropolitan Regional Information System and its member associations 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 January, with Winchester City experiencing a 28 percent jump and Frederick County experiencing an 8 percent increase. In Warren County, the median sale price rose by 6 percent over the previous year and in Shenandoah County it declined by 8 percent.

The number of homes sold varied in the Winchester region in January compared to the same month in 2016. Winchester City experienced an increase of 26 percent, while in Frederick County the number of homes sold rose by 17 percent. In both Shenandoah and Warren counties, the number of homes sold declined by 9 percent.

Active inventory fell across the Winchester region, with Winchester City experiencing a decrease of 29 percent, followed by Shenandoah County with a decrease of 26 percent. Both Frederick and Warren counties experienced decreases of 24 percent.

Homes in the Winchester area are continuing to sell at a steady pace according to January data. Winchester City saw the lowest days on market (DOM) average at 50 days, followed by Warren County at 73 days and Frederick County at 81 days. Shenandoah County had a DOM average of 103 days.

“Though we’re still in the real estate market’s slow winter season, the United States economy continued to see improvements in January, and we saw positive trends happening in housing too, including in the Winchester region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Low inventory continues to cause frustration for many, but is helping to push up sale prices for those selling homes. We’re looking forward to a healthy spring market.”

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.