Market Statistics – May 2020

Blue Ridge Association of REALTORS® (BRAR)

Market Statistics May 2020

The overall number of new listings in May for the Blue Ridge Association of REALTORS® service area were up by 3.7%, from April, which was still a decrease from the number of new listings taken in May 2019 (by 15.3%). The number of Pending Sales rose 31.3% from April, which was an 11% increase from May 2019. Closed sales rose 22.1% from April and year-to-date closed sales were up 6.1% from 2019. The median sales price was $295,000, which is 5.7% higher than April, and 13.5% higher than May of last year. The average length of time on the market was 40 days and the average sale price to the original list price remained strong at 97.1%.

Winchester City saw a drop in the number of new listings by 24% from April, which was still a 5.6% increase over the number of new listings taken in May of last year. The number of new pending contracts increased by 48.4% from April, which was 39.4% more than May of last year. Year-to-date the number of new pending sales was up 17.6% over 2019. Closed sales were up 3.7% from April, which was a 22.2% drop compared to May of last year. Overall, year-to-date closed sales in Winchester City rose 13.4% over last year. The median sold price was $243,125 and the average length of time on the market was 33 days. The average list to sold price was 96.9%.

In Frederick County, the number of new listings rose 8.5% from April, which was still a 14.7% decrease in the number of listings taken in May of last year. New pending contracts rose 29.5% from April, an 8.6% increase from May of last year. Closed transactions rose a whopping 21% over April, which was 7.7% better than May of last year. The median sold price in Frederick County was $313,925, which is a 6.5% increase from April and 14.2% higher than in May of 2019. The average number of days on market 43 and the average sold to list to sale price ratio was 97.1%.

The number of new listings in Clarke County rose 41.7% from April, which was the same number of listings taken in May 2019. Pending sales dropped by 11.1% from April and 14.3% versus May of last year. The number of closed transactions increased 31.6% from April, which was an 8.7% improvement over May of last year. The number of closed transactions year-to-date are a 36.2% increase over last year. The median sale price was $410,000 and the average length of time on the market was 43 days. The average sale to list price ratio was 96.5%.

The number of new listings in Loudoun County increased by 13.1% from April, which was still a significant decrease of 28.3% versus May of 2019. Pending sales rose by 40.4% from April, still an 11.6% decrease compared to May 2019. Closed sales were down 7.3% over April, a 27.9% drop from the number of closed transactions in May 2019. The median sale price was $527,000. The average length of time on the market was 16 days, with an average sale to list price of 99.7%.

Fairfax County saw a slight increase of 2.6% in the number of new listings from April, which was still 37% fewer listings taken than in May of last year. The number of pending sales was up 17.7% from April, which was a 23.5% decrease from May 2019. Closed transactions were down 4% from April, which is 30.1% fewer closed transactions than in May of 2019. The median sale price was $575,000 and the average length of time on the market was 16 days, with an average sale to list ratio of 99.4%.

 

 

 

COLONY REALTY OF WINCHESTER – 114 N Cameron St., Winchester, VA 22601

(540) 662-0323; Broker: John S. Scully, IV; Licensed in Virginia and West Virginia.

 

*All of the information herein is deemed to be reliable but is subject to errors, omissions and withdrawal from the market. All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.