Are you wondering what is happening to the real estate market in your area? I am providing a market update for three counties which include Loudoun County, VA, Frederick County, VA and Jefferson County, WV. The information provided is based on September 2022 data from BRIGHT MLS. If you are interested in seeing your local market metrics, your neighborhood review and your property review, I would be happy to provide this information via email. You can send me a request for this data to sherry.santmyer@huntcountrysir.com.
Frederick County, VA real estate market in September 2022 saw many changes from September 2021 and even from August of 2022. The following bullet points highlight the stats:
Closed Sales were down 38.5% from Sept. 2021 and down 29.1% since August 2022.
Average Sold Price was up 9.7% over the same time last year but down .7% since August 2022.
Average Days on the Market is up to 28 days, this is 16.7% longer than last Sept. 2021 & 33.3% longer than August 2022.
Closed & Pending Sales dropped from 425 to 272 from Sept. 2021 to Sept. 2022
Jefferson County, VA real estate market in September 2022 saw many changes from September 2021 and even from August of 2022. The following bullet points highlight the stats:
Closed Sales were down 10% from Sept. 2021 and down 5.7% since August 2022.
Average Sold Price was up 16.1% over the same time last year but down 1.1% since August 2022.
Average Days on the Market is up to 31 days, this is 121.4% longer than last Sept. 2021 & 24% longer than August 2022.
Closed & Pending Sales dropped from 318 to 229 from Sept. 2021 to Sept. 2022.
Loudoun County, VA real estate market in September 2022 saw many changes from September 2021 and even from August of 2022. The following bullet points highlight the stats:
Closed Sales were down 35.2% from Sept. 2021 and down 13.3% since August 2022.
Average Sold Price was up 6.2% over the same time last year but down 2.9% since August 2022.
Average Days on the Market is up to 25 days, this is 66.7% longer than last Sept. 2021 & 56.3% longer than August 2022.
Closed & Pending Sales dropped from 1427 to 931 from Sept. 2021 to Sept. 2022.
Real Estate Market Overview
All three counties have a general commonality. The closed Sales are down from Sept. 2021 and down since August 2022. The Average Sold Price was up over the same time last year but down since August 2022. The Average Days on the Market has increased since Sept. 2021 & longer than August 2022.
In conclusion, we are seeing lots of buyers ready to purchase but have not found the exact home they desire. We are also seeing sellers that are contemplating listing their home. We are still in a seller's market and in the need for more inventory. If you would like to see what your local market metric, neighborhood review and your own personal property review look like, please contact me at sherry.santmyer@huntcountrysir.com.
Comments