The greater Winchester, Va., real estate market, including Frederick, Shenandoah and Warren counties and the city of Winchester, experienced positive trends in February, according to The Long & Foster Market Minute reports. According to February data, the number of homes sold increased in both Shenandoah County and Winchester City.
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 varied throughout the Winchester region in February compared with the same month in 2013. Both Winchester City and Shenandoah County saw significant increases in the number of homes sold at 29 percent and 17 percent, respectively. Frederick County saw a decrease of 19 percent, while Warren County experienced a 29 percent decrease.
In February, the median sale price fell in much of the Winchester region, though Warren County experienced a 4 percent increase. Frederick County saw a small decrease of 1 percent, while Shenandoah County saw a 6 percent increase in median sale price. The city of Winchester experienced a decrease in median sale price of 26 percent.
Inventory levels increased throughout the Winchester area compared to February 2013. Warren County saw a 4 percent increase, and Shenandoah County saw a 6 percent increase in active inventory. Frederick County experienced a 14 percent increase, while Winchester City saw a 22 percent increase.
Homes in the Winchester area are continuing to sell at a solid pace according to February data. Frederick County experienced a days on market (DOM) average of 74 days, followed by Warren County at an average of 75 DOM. Winchester City saw a DOM of 87 days and Shenandoah County experienced a DOM average of 132 days.
“February continued in much of the same pattern as January as a result of the continued winter weather, but we’re seeing more positive trends happening in the real estate market, including in the Winchester region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Many areas have been enjoying increases in the median sale price and speedy home sales, and going into spring, we anticipate a stronger and more vibrant 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.
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