The Winchester real estate market enjoyed rising median sale prices in April, 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 April, median sale prices rose in the Winchester region, with Winchester City experiencing an increase of 20 percent and Frederick County seeing an 11 percent jump. Median sale price rose by 3 percent in Shenandoah County and by 1 percent in Warren County.
The number of homes sold varied throughout the Winchester region in April compared to the same month in 2014. Warren County saw a 20 percent increase, followed by Frederick County with a 3 percent increase. Winchester City experienced a 13 percent decrease in the number of homes sold and Shenandoah County experienced a 16 percent decrease.
In the Winchester region, active inventory decreased by 17 percent in Winchester City and by 12 percent in Shenandoah County. Warren County experienced a 10 percent drop in inventory, and Frederick County saw a 3 percent increase compared to the same month the previous year.
Homes in the Winchester area are continuing to sell at a steady pace according to April data. Frederick County saw the lowest days on market (DOM) average at 63 days, followed by Warren County at 70 days. Winchester City had a DOM average of 87 days and Shenandoah County experienced a DOM average of 123 days.
“April showed us that there are some great things happening in the Mid-Atlantic and Northeast real estate market, including in the Winchester region where we saw increases in median sale prices,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “The conditions of the real estate market in many areas of the country are providing excellent opportunities for both buyers and sellers, and we’re pleased to see a nice robust spring 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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