Realtors in Stephens City, Virginia, say their area is becoming the hot bedroom community serving Washington, D.C. commuters.
"Located just south of Winchester, this little town falls right in the middle of the Shenandoah Valley with all its historic scenery and personality," says Realtor Angie Brewer Schrantz . "This is another area that's exploding rapidly, and homes in the $250,000 range and below are rarely on the market for more than a few days. Townhomes are pushing the $200,000 mark and that leaves little opportunity for the those on a fixed income, or lower income, to actually be able to afford a home in the area. Unfortunately, these folks are being pushed to the west, to Hampshire County or north, to Berkeley county."
Schrantz advises, "This area is a perfect resting point for those who work in DC or Northern VA, and that makes it a bedroom community for upper income management workers who don't really get to enjoy the community and all it has to offer until the weekends. Be sure to come prepared to make an offer (if you see a home you like), chances are it won't be there tomorrow. Have your pre-qualification letter ready, and be prepared to put down a nice earnest deposit."
Says Realtor Rogin Gochenour , "Stephens City is just off I-81, south of Winchester in Frederick County. Residential sales for March were at 44 units, down slightly in April with a total of 40 units sold. Land sales for March were at four units sold, in April there were two units sold."
"Ten condos have sold and settled in the past six months," says Realtor Mike Bergida . "On average, these listings sold in 19 days for just over asking price. Average price per square foot is $113. Currently, there is one condo awaiting settlement, priced at about $115 per square foot. There are no condos currently for sale."
"Seventy-three homes have sold and settled, in the last six months. On average, these listings sold in 53 days for about $4200 less than asking price. Average sold price is about $292,000. Since many of these homes are newly-built, the average time on the market is greatly increased. Currently, there are 20 four-bedroom homes awaiting settlement, ranging in price from $104 to $187 per square foot. The 21 four-bedroom homes currently for sale range from $255,000 to $678,580. For three-bedroom homes, 110 homes have sold and settled in the last six months. On average, these listings sold in 21 days for about $1,800 less than asking price. Average sold price is about $210,800. There are currently 23 three-bedroom homes awaiting settlement, ranging in price from $96 to $190 per square foot. The 13 three-bedroom homes currently for sale range from $169,950 to $849,000."
"For two-bedroom homes, 62 homes have sold and settled in the last six months. On average, these listings sold in 15 days for about $1000 less than asking price. Average sold price is about $139,000. Currently, there are eight two-bedroom homes awaiting settlement, ranging in price from $120,000 to $142,500. The eight two-bedroom homes currently for sale range from $115,900 to $289,900."
