Long & Foster Market Minute reports show more homes sold in many areas of the region
The greater Winchester, Va., real estate market, including Frederick, Shenandoah and Warren counties and the city of Winchester, experienced positive trends in December, according to The Long & Foster Market Minute® reports. According to December data, the number of homes sold increased in many areas and median sale price increased in two counties.
The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.
Inventory levels increased in much of the Winchester area compared to December 2012. Inventory increased by 27 percent in Frederick County, by 25 percent in Winchester City and by 6 percent in Warren County. Inventory decreased by 1 percent in Shenandoah County.In December, median sale prices varied throughout the Winchester region compared to the same period a year ago. Frederick County saw an increase of 17 percent and Shenandoah County saw a 3 percent increase. Warren County and Winchester City each saw decreases of 1 percent and 6 percent, respectively.
Homes in the Winchester area are continuing to sell at a solid pace according to December data. Winchester City saw an average days on market (DOM) of 44 days, followed by Warren County at 57 average days on market. Frederick County saw a DOM of 72 days and Shenandoah County experienced a days on market average of 136 days.
“We’re continuing to see many improvements throughout the real estate market on the East Coast, including in the Winchester, Va., region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Many areas are experiencing rising sale prices and increases in the number of homes sold. These developments bode well for the market in 2014, and we expect to see continued improvement in the housing market, meaning better opportunities for both home buyers and sellers.”
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.