With half of the 2017 real estate year under our belt, it’s time to review the numbers. Our 2017 Shenandoah Valley Mid Year Market Report provides helpful information for buyers and sellers. Our goal is to provide an overview of how the Shenandoah Valley real estate market has performed so far this year. You can review the 2017 Mid-Year Shenandoah Valley Nest Report here.
The Quick Takeaways
- Days on Market-Homes sold in the first half of 2017 spent an average of 83 days on market before being sold. This data point dropped more than 20% year over year, from 108 days at this time last year.
- The Median Sales Price-The median sales price in the first half of 2017 was $173,250. Compare this to $170,000 in 2016. This is modest growth, of just under 2%.
- Total Sales–Fishersville witnessed the largest percentage growth of total sales year-over-year. The area grew from 29 sales in 2016 to 37 sales in 2017. That’s a 27% increase.
What does this Mid Year Market Report mean for you? Researching factors like Days on Market, Inventory, and Median Sales Price, along with longer term sales trends, can help you make a smarter decision. A Nest REALTOR would be happy to analyze the numbers. Your REALTOR will pull a more detailed look at your particular market, and provide some context as you consider your options.