The Winchester real estate market enjoyed rising median sale prices 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 compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

 

In December, the median sale price rose throughout the Winchester region, with Shenandoah County experiencing an increase of 14 percent and Winchester City seeing an 11 percent jump. Median sale price rose by 2 percent in Warren County and 1 percent in Frederick County.

The number of homes sold varied throughout the Winchester region in December compared to the same month in 2013. The only increase occurred in Frederick County, where the number of homes sold rose by 12 percent. Shenandoah County saw no change in the number of homes sold, while Warren County and Winchester City saw declines of 14 percent and 20 percent, respectively.

In the Winchester region, active inventory decreased by 15 percent in Warren County and by 7 percent in Winchester City. Frederick County experienced a 5 percent drop in inventory, followed by Shenandoah County with a 1 percent decline.

Homes in the Winchester area are continuing to sell at a steady pace according to December data. Both Frederick and Warren counties experienced the lowest days on market (DOM) average at 58 days. Winchester City had a DOM average of 84 days and Shenandoah County experienced a DOM average of 120 days.

“December brought modest improvements to the Mid-Atlantic and Northeast real estate market, including in the Winchester area, with many areas enjoying rising median sale prices,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “These developments are positive for the real estate market and leave us positioned for growth in 2015.”

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.