Market Statistics – July 2020

Blue Ridge Association of REALTORS® (BRAR)
Market Statistics July 2020

The overall number of new listings in June for the Blue Ridge Association of REALTORS® service area was down 2.5%, from June, which was a 2.7% decrease from the number of new listings taken in July 2019. The number of Pending Sales dropped 0.2% from June, which was an astounding 35.8% increase when compared to July 2019. Closed sales rose 21.8% from June, a 32.2% increase from July 2019. The median sales price was $295,950, which is 11.7% higher than in July of last year. The average length of time on the market was 38 days and the average sale price to the original list price remained strong at 98.4%.

Winchester City saw the number of new listings grow by 17.1% from June, which was 2.5% more listings taken than in July of last year. The number of new pending contracts increased stayed the same from June, an increase of 37.1% when compared to July of last year. Closed sales were down 6.7% from June, which was still a 13.5% increase as compared to July of last year. The number of closed sales dropped 6.7% from June in Winchester City, still a 13.5% increase over last year. The median sold price was $276,500 and the average length of time on the market was 52 days. The average list to sold price was 98.1%.

In Frederick County, the number of new listings dropped 19.3% from June, which was a 15.8% reduction in the number of listings taken as compared to July of last year. New pending contracts also dropped by 3.6% from June, still a 28.7% increase compared to July of last year. Closed transactions rose 23.6% in July, which was a 33.3% improvement as compared to July of last year. The median sold price in Frederick County was $295,000. The average number of days on market 31 and the average sold to list to sale price ratio was 98.3%.

The number of new listings in Clarke County increased 58.8% from June, an 8% increase over July 2019. Pending sales were down 14.3% from June, still a 25% improvement over July of last year. The number of closed transactions rose by 16% in July, which was a whopping 52.6% improvement over July of last year. The number of closed transactions year-to-date are 28.7% more than last year. The median sale price was $400,000 and the average length of time on the market was 53 days. The average sale to list price ratio was 97.3%.

The number of new listings in Loudoun County increased by 17% from June, a 22.1% increase versus July 2019. Pending sales dropped by 6.4% from June, still a 22.3% improvement over July 2019. Closed sales were up 16.6% over June, a 13.8% improvement from the number of closed transactions in July 2019. The median sale price was $565,250. The average length of time on the market was 20 days, with an average sale to list price of 99.7%.

Fairfax County saw a 13.6% increase in the number of new listings from June, a 25.4% increase in the number of listings taken than in July of last year. The number of pending sales was down 1.9% from June, a 10.5% increase over July 2019. Closed transactions rose by 16.8% from June, which is 4.5% more closed transactions than in July of 2019. The median sale price was $615,000 and the average length of time on the market was 18 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.

*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.