The greater Winchester, Va., real estate market, including Frederick, Shenandoah and Warren counties and the city of Winchester, experienced positive trends in June, according to The Long & Foster Market Minute reports. The June data showed that both the number of units sold and median sale prices increased in some areas.
The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.
The number of homes sold increased in much of the Winchester region in June compared to the same month in 2013. Frederick County experienced an increase of 25 percent, while Shenandoah County experienced a 24 percent increase. Winchester City saw a 6 percent increase and Warren County saw a 25 percent decrease in the number of units sold.
In June, the median sale price increased in some areas of the Winchester region. Shenandoah County experienced a 21 percent increase in median sale price and Frederick County saw a 16 percent increase. Warren County experienced a 3 percent decrease, while Winchester City saw a decrease of 9 percent.
Homes in the Winchester area are continuing to sell at a solid pace according to June data. Winchester City experienced a days on market (DOM) average of 39 days, followed by Frederick County at an average of 62 DOM. Warren County saw a DOM of 65 days and Shenandoah County experienced a DOM average of 88 days. Active inventory increased throughout the entire region.
“We’re now halfway through 2014, and this year has brought many positive developments like increasing sale prices and quick home sales,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Overall, the market is stabilizing and that will help keep the industry healthy and ready for future growth.”
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.