top of page

Sherry's Real Estate Blog

Real Estate Market Update- December 2022 Stats

Writer's picture: Sherry SantmyerSherry Santmyer

Updated: Aug 24, 2023


Sherry Santmyer Real Estate Market Update
Sherry Santmyer Real Estate Market Update

Real Estate Market Update in VA & WV

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 December 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 December 2022 saw many changes from December 2021 and even from November of 2022. The following bullet points highlight the stats:


Frederick County, VA Real Estate Market Update
Frederick County, VA Real Estate Market Update
  • Closed Sales were down 38.4% from December 2021 and down 4.1% since November 2022.

  • Average Sold Price was up 1.7% over the same time last year and down 1.8 % since November 2022.

  • Average days on the market is 40 days which is a 100% increase over December 2021.


Frederick County, Contract Snapshot
Frederick County, Contract Snapshot
  • December 2022 Contract Snapshot

  • Closed & Pending Sales dropped from 313 to 183 from December 2021 to December 2022. This is the lowest number for November in the past 5 years.




Jefferson County, WV Real Estate Market Report
Jefferson County, WV Real Estate Market Report

Jefferson County, VA real estate market in December 2022 saw many changes from December 2021 and even from November 2022. The following bullet points highlight the stats:

  • Closed Sales were down 44.3% from December 2021 and down 37.2% since November 2022.

  • Average Sold Price was up 6.9% over the same time last year but down 1.8% since November 2022.

  • Average days on the Market is 58 days which is a 346.2% longer than December 2021.


Jefferson County, WV Contract Snapshot
Jefferson County, WV Contract Snapshot
  • Closed & Pending Sales dropped from 251 to 170 from December 2021 to December 2022. December 2018, 2019 and 2022 have very similar numbers.



Loudoun County, VA real estate market in December 2022 saw many changes from December 2021 and even from November of 2022. The following bullet points highlight the stats:



Loudoun County, VA Real Estate Market Report
Loudoun County, VA Real Estate Market Report

  • Closed Sales were down 39.1% from December 2021 and up .9% since November 2022.

  • Average Sold Price was down 3.5% over the same time last year and down 8.6% since November 2022.

  • Average Days on the Market is up to 30 days, this is 50% longer than December 2021 & 11.1% more than November 2022.


Loudoun County, VA Contract Snapshot
Loudoun County, VA Contract Snapshot

  • Closed & Pending Sales dropped from 874 to 574 from December 2021 to December 2022. This is a 5 year low.



Real Estate Market Overview

All three counties have some general commonality. The closed Sales are down from December 2021 and down since November 2022. The Average Sold Price was up over the same time last year in Jefferson County, WV & Frederick County, VA but Loudoun County's average sold price went down. The Average Days on the Market has increased since December 2021 & increased since November 2022.


In conclusion, we are seeing homes staying on the market for a longer period of time. Buyers have more time to think about purchasing which they haven't had in the last year and a half. We are also seeing homes that are priced right and are a 10 out of 10, selling fast and still receiving multiple offers. I believe we are in a buyer's market but in need of 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.

Yorumlar


Website by Loudoun Digital

  • Instagram
  • Facebook
  • Linkedin
  • Youtube

Sherry Santmyer

REALTOR®

CALL OR TEXT

The National REALTOR Association
Equal Housing Opportunity

Sotheby’s International Realty® is a registered trademark and used with permission. This website is not the official website of Sotheby’s International Realty. Sotheby’s International Realty does not make any representation or warranty regarding any information, including without limitation its accuracy or completeness, contained on this website. Real estate agents affiliated with Sotheby’s International Realty, Inc. and some independently owned offices are independent contractor sales associates and are not employees of Sotheby’s International Realty. Equal Housing Opportunity.

© 2035 Sherry Santmyer. All rights reserved.

Privacy Policy

bottom of page