Most areas of the Winchester real estate market enjoyed an increase in median sale price in January, 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.

In January, median sale prices rose in most places in the Winchester region, with Warren County experiencing an increase of 9 percent and both Frederick and Shenandoah counties seeing increases of 5 percent compared to the previous year. In January, the median sale price declined by 5 percent in Winchester City.

The number of homes sold decreased in the majority of areas of the Winchester region in January compared to the same month in 2015. Shenandoah County saw a 20 percent increase, while Winchester City experienced a 10 percent decrease. Frederick County experienced a 19 percent decline compared to last year and Warren County experienced a 26 percent decrease.

In the Winchester region, active inventory decreased by 23 percent in Winchester City and by 8 percent in both Shenandoah and Warren counties. Frederick County saw a 6 percent drop when compared to the same month the previous year.

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 55 days, followed by Warren County at 74 days. Frederick County had a DOM average of 80 days and Shenandoah County experienced a DOM average of 142 days.

“So far this year, the overall economic fundamentals continue to support a strong housing market in the United States, though there have been short-term hurdles, including last month’s blizzard,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Affordability will likely remain high and mortgage rates are likely to stay steady or perhaps increase slightly this year, and we expect to see some good things happening in the Winchester region real estate market for 2016.”

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.