Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018.
Stephens City, Virginia may be the best kept secret in the north-west corner of Virginia, but some are discovering it. It accounted for 29% of the total Frederick County real estate market in 2018. That's consistent with the 2017 real estate market. It was 29.8% of total Frederick County sales in 2017.
The Frederick County real estate market had 1386 sales in 2018, which was a 2.5% increase over 2017. Stephens City had 404 of those sales. The amazing thing about that volume of sales is that Stephens City is .57% of the total square miles of Frederick County. At humble 2.4 square miles, Stephens City is a giant in real estate sales.
The location of this small community makes it prime for commuters, college students, families with children, people seeking 55 plus living, those needing assisted living facilities and just about anyone else who is looking for a comfortable small town feel with access to just about everything. Stephens City is bordered by Rt 11, Rt 522, Rt 340, Interstate 81 and Rt 37. Route 66 is a few short minutes south of town and it gives commuters a straight shot to travel into the DC Metro area.
Shenandoah University and Lord Fairfax Community College, which also hosts Old Dominion University courses, are on opposite ends of the community. That makes Stephens City a great place for those seeking a college degree. Also, James Madison University is a short 45 minute commute south of town.
Multiple new neighborhoods are under development and home-buyers are discovering this quaint and thriving area. On both the east and southern sides of Stephens City, new homes are going up as fast as builders can complete them.
Stephens City by the numbers: Existing vs New Construction
The average existing home sale in 2018 was $251,167. That is an affordable home price for many first-time buyers, as well as, move-up or scale back buyers. Those numbers are dramatically different when new construction is separated from the total sales.
New construction consisted of 43 home sales in 2018. Those homes sold at 101.4% over list price. The average new construction sale was $339,356. When you remove the 12 new construction townhouses from that number, the average detached new construction sale was $383,867. Here again, those homes sold over list at 102.5% of list.
Buyers just entering the real estate market may be better served buying an existing home, and not a new construction home, but the options are open in Stephens City, VA. A new townhouse averaged $233,677 in 2018, but an existing townhouse sale averaged $170,647.
Stephens City Available Homes: Existing and New Construction
There are now 73 homes available in the Stephens City real estate market. Twenty-eight of those are new construction. There are three new townhouses and twenty-five detached homes. The average list price of the total currently available homes in $289,726. Here again, that is a popular price range for a large percentage of the buying public.
Stephens City by the numbers: Distressed Properties
Distressed properties can have a large impact on a real estate market, but the volume of distressed properties in Stephens City, VA was steady at 5%. The distressed properties (foreclosures and short sales) for the entire Frederick County, VA real estate market was 4.8% in 2018. That is consistent with the neighboring counties and is no longer a major determining factor on local real estate sales.
Stephens City, Virginia is the jewel of Frederick County, VA. When you're ready to buy or sell in the Stephens City, VA real estate market, give me a call and let's make something great happen. Stephens City offers a lot with the comfortable sense of a small close-knit town.
This post was originally posted at www.winchestervarealestate.com: Stephens City, Virginia was 29% of the Frederick County Real Estate Market in 2018. #mikecoopersellshomes, #cornerstonehomesales, #stephenscityvahomesales.