Market Statistics – August 2020

Blue Ridge Association of REALTORS® (BRAR)

Market Statistics August 2020

The overall number of new listings in August for the Blue Ridge Association of REALTORS® service area was down 12.1%, from July, which was a 12.6% decrease from the number of new listings taken in August 2019. The number of Pending Sales dropped 10.7% from July, which was still an astounding 21.7% increase as compared to August 2019. Closed sales were down 8.3% from July, a 31.1% increase from August 2019. The median sales price was $300,000, which is 16.1% higher than in August of last year. The average length of time on the market was 41 days and the average sale price to the original list price was 97.6%.

Winchester City saw the number of new listings decrease by 22% from July, which was 25.6% fewer listings taken than in August of last year. The number of new pending contracts was down 27.1% from July, which was still a 20.7% increase when compared to August of last year. Closed sales were up 9.5% from July, which was an impressive 43.8% increase as compared to August of last year. The median sold price was $255,750 and the average length of time on the market was 30 days. The average list to sold price was 96.3%.

In Frederick County, the number of new listings was up 1.2% from July, which was 7.5% fewer listings taken as compared to August of last year. New pending contracts also dropped by 16.3% from July, still a 16.9% increase as compared to August of last year. Closed transactions dropped 13.6% in August, which was a 19.5% improvement as compared to August of last year. The median sold price in Frederick County was $319,250, which is a 20.5% improvement compared to August last year. The average number of days on market 44 and the average sold to list to sale price ratio was 97.7%.

The number of new listings in Clarke County dropped 33.3% from July, also a 33% decrease from August 2019. Pending sales were down 3.3% from July, still a 38.1% improvement over August of last year. The number of closed transactions stayed the same in August as compared to July, which was still a whopping 26.1% improvement over August of last year. The number of closed transactions year-to-date have increased 28.8% over last year at the same time. The median sale price was $400,000 and the average length of time on the market was 43 days. The average sale to list price ratio was 97.2%.

The number of new listings in Loudoun County dropped 14.5% from July, a 20.8% increase over August 2019. Pending sales were up 7.3% from July, a 46.6% improvement over August 2019. Closed sales dropped by 9.5% from July, a 19.6% improvement from the number of closed transactions in August 2019. The median sale price was $560,000. The average length of time on the market was 17 days, with an average sale to list price of 100.1%.

Fairfax County saw a 9.4% decrease in the number of new listings from July, which was a 17.2% increase in the number of listings taken over August of last year. The number of pending sales was up 3% from July, a 31.5% increase over August 2019. Closed transactions were down 5% from July, which is still 14.6% more closed transactions than in August of 2019. The median sale price was $580,000 and the average length of time on the market was 16 days, with an average sale to list ratio of 100.3%.

 

 

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.

www.colonysells.com

*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.