Most areas of the Winchester real estate market enjoyed an increase in the number of homes sold in December, according to The Long & Foster Market Minute reports. The greater Winchester, Va., 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.
The number of homes sold increased in the majority of areas of the Winchester region in December compared to the same month in 2014. Warren County saw a 74 percent jump, followed by Shenandoah County with an 18 percent increase. Frederick County experienced a 5 percent increase compared to last year and Winchester City experienced a 38 percent decrease.
In December, median sale prices rose in a few places in the Winchester region, with Warren County experiencing an increase of 5 percent and Winchester City seeing a 2 percent increase compared to the previous year. Median sale price decreased by 2 percent in both Frederick and Shenandoah counties.
In the Winchester region, active inventory decreased by 23 percent in Winchester City and by 11 percent in Shenandoah County. Warren County experienced a 2 percent drop in inventory, and Frederick County saw no change when compared to the same month the previous year.
Homes in the Winchester area are continuing to sell at a steady pace according to December data. Warren County saw the lowest days on market (DOM) average at 66 days, followed by Winchester City at 70 days. Frederick County had a DOM average of 72 days and Shenandoah County experienced a DOM average of 109 days.
“In December, the recent economic trends we’ve been seeing in the United States’ economy continued as more jobs were added and wages increased. Additionally, according to the Associated Press, new home sales jumped almost 15 percent in 2015,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “We saw additional positive trends happening within Long & Foster’s footprint, including in parts of the Winchester region where we saw increases in the number of homes sold. We look forward to what the 2016 market brings us.”
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, Inc.