Market Statistics – April 2020

Blue Ridge Association of REALTORS® (BRAR)

Market Statistics April 2020

 

The overall number of new listings in April for the Blue Ridge Association of REALTORS® service area dropped by 13.9%, from March, which was a decrease of 12.2% from the number of new listings taken in April 2019. The number of Pending Sales dropped 4.1% from March, which was a 15.7% drop from April 2019. Closed sales showed an increase of 12.7% from March and year-to-date closed sales were up 9.6% from 2019. The total number of Active listings in April was 677. The median sales price was $279,000, which is 2% higher than in March. The average length of time on the market was 48 days and the average sale price to the original list price remained strong at 97.3%.

Winchester City saw an increase in the number of new listings by 22% from March, which was a 6.4% increase over the number of new listings in April of last year. The number of new pending contracts dropped by 8.8% from March, and was down 18.4% versus April of last year. Year-to-date the number of new pending sales was still up 13.8% over 2019. Closed sales were down 10% from March, which was still 8% more than April of last year. Overall, year-to-date closed sales in Winchester City rose an astounding 32% over last year. The median sold price was $259,900 and the average length of time on the market was 41 days. The average list to sold price was 97.4%.

In Frederick County, the number of new listings was down 16.5% from March and the number of new pending contracts also dropped 7.1% from March, a 17.9% decrease from April of last year. Closed transactions rose a whopping 25.5% over March, but dropped 3.5% as compared to April of last year. Year-to-date closed sales were down 1.5% from 2019. The median sold price was $294,900, which is an increase from March as well as April of 2019. The average number of days on market 53 and the average sold to list to sale price ratio was 97.5%.

The number of new listings in Clarke County dropped 29.4% from March, which was 22.6% fewer than in April 2019. Pending sales rose by 35% from March and 12.5% versus April of last year. The number of closed transactions also showed an increase of 11.8% from March, which was 35.7% better than April of 2019 and year-to-date closed sales are also 47.8% above what they were at the same time last year. The median sale price was $344,000 and the average length of time on the market was 50 days. The average sale to list price ratio was 98.3%.

The number of new listings in Loudoun County dropped by 31.3% from March, a 30% drop versus April of 2019. Pending sales also dropped by 27.3% from March, a 36.3% decrease compared to April 2019. Closed sales were up 2.9% over March, a 2.7% increase from April 2019.  The number of closed sales saw a slight increase of 2.9% from March, which was 2.7% better than April of last year. The median sale price was $540,705. The average length of time on the market was 14 days, with an average sale to list price of 100.1%.

Fairfax County saw the number of new listings drop by 25% from April, which was 35.9% fewer listings taken than in April of last year. The number of pending sales was down 19.7% from March 2019, a 34.6% drop from April 2019. Closed transactions were down 5.4% from March, which is 20.4% less than in April of 2019. The median sale price was $583,245 and the average length of time on the market was 14 days, with an average sale to list ratio of 100.5%.

 

 

 

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.