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Warren County Market Report – February 2019

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Watch this video for a quick summary of Warren County real estate for February 2019. Charts demonstrate the changes in the market, so be sure to click play!

In general summary:

  1. Closed sales (28 units) is significantly down by -37%.
  2. Average Median Sold $209,950. This number is up from February 2018 but down from last month January 2019 ($224K).
  3. Average Days on Market 110. January 2019 we were only at 69 DOM.

Looking forward to the spring market, we anticipate closed sales to improve. It is not clear why closed sales decreased so much. Reports indicate the available homes on the market has not dipped compared to last year. Could the government “shutdown” have created delayed closings?

To help answer this question, let’s ask a few local industry experts.

Tim Fusaro of Commonwealth Home Lending confirmed, “The government shutdown affected several of my USDA loan closings pushing them back into a March close date.” Fusaro continued, “We saw low purchase volume in January and February because USDA loans are utilized by a large percentage of home buyers in Warren County. USDA loans require RD approval prior to closing and those employees were furloughed. Even those purchasing homes with loans that don’t require any direct federal involvement prior to closing seemed to be discouraged and hesitant to move forward with purchasing homes. Rates began dropping in December of 2018 and we didn’t start to see the effect of that until mid February.”

Bill Tribus of Clear Title and Escrow challenged we research back additional years to determine the closed sales trend through 2016. Here is what was found:

  • Closed sales 2016: 40
  • Closed sales 2017: 42
  • Closed sales 2018: 45
  • Closed sales 2019: 28

Tribus commented, “Considering the number of government funded loans that are currently popular in our area, and the lengthy government shutdown, these factors could definitely be contributors for this significant drop.”

Loan Officer, Molly Llewellyn of CBM Mortgage confirmed she experienced a USDA loan delay this month. NextHome Realty Select broker, Curtis Siever concluded this brief investigation by adding, “Our local brokerage had two USDA loans scheduled to close in February pushed to March.”

*If you would like a copy of this report emailed to you, please just send your request to Jennifer@nexthomerealtyselect.com.

 

Resource: 2019 Market Stats by ShowingTime
MRIS: Statistics calculated March 6, 2019

Jennifer Avery, Realtor for NextHome Realty Select
BPOR, SRS, CNE, E-Pro Certified | Licensed in VA
jennifer@nexthomerealtyselect.com | 540-683-0790
210 E Main Street, Front Royal VA
www.jenaveryrealtor.com 

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Warren County Market Report – April 2019

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Watch this video for a quick summary of Warren County real estate for April 2019.  Charts demonstrate the changes in the market, so be sure to click play!

In general summary:

  1. Closed sales are UP by 18% compared to this time last year
  2. Average Median Sold $250,000.
  3. Average Days on Market 84.

*If you would like a copy of this report emailed to you, please send request to Jennifer@nexthomerealtyselect.com.

Resource: 2019 Market Stats by ShowingTime
MRIS: Statistics calculated May 2019

Jennifer Avery, Realtor for NextHome Realty Select
BPOR, SRS, CNE, E-Pro Certified | Licensed in VA
jennifer@nexthomerealtyselect.com | 540-683-0790
210 E Main Street, Front Royal VA
www.jenaveryrealtor.com 

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Community Events

Great time had by all at the Color-A-Thon fundraiser

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Please enjoy the following video and photos of the Color-A-Thon fundraiser, held on Friday at Leslie Fox Keyser Elementary School. Those Lil’Cats really know how to have fun while supporting their school at the same time!

Get ready, get set, go!

Cough.. cough..

Watch out!

No problem, Mom – it will wash out.

Looks like the adults jumped right in.

All ages had fun!

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FRWRC Dare to Dream recipient of the month, Dian DiPasquale

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Dian DiPasquale and her spouse of 47 years started their business, Front Royal Premier Copiers, in 2014. Their business services all makes and models of copiers. Their tagline is Service, Sales, Solutions and Supplies,  and they provide services to many small businesses in the area. The Front Royal-Warren County Chamber of Commerce awarded Premier Copiers the 2018 Entrepreneurs of the Year award. Dian was awarded a $500 Dare to Dream grant to support Quick Books training which will help grow the vendor side of her business and help her provide better service to her customers.

About Front Royal Women’s Resource Center

The Front Royal Women’s Resource Center (FRWRC) is a 23-year-old non-profit organization, dedicated to providing a support network for women in the Warren County area through programs, information and education. Over the last two decades, FRWRC has provided networking opportunities, spotlighted women leaders in our community and awarded more than $113,000 in grants and scholarships to 157 Warren County women and girls to support education, and professional and personal enrichment opportunities. We empower women to change their world. Visit our website frwrc.org and follow us on Twitter @FRWRC.

Support the Front Royal Women’s Resource Center  frwrc.org/donate

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Community Events

National Junior Honor Society induction at Warren County Middle School

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Congratulations to all of the new inductees this year, 2019. Membership is based on Scholarship, Leadership, Service, Character, and Citizenship. These students are role models for not just their fellow classmates but for our entire community. Best wishes to a lifelong mission for excellence and trail blazing!


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Community Events

First annual Warren County Humanity Day was a success!

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Enjoy a few pictures from the first annual Warren County Humanity Day celebration. Our community came together to support Habitat for Humanity on a gorgeous Saturday afternoon!

First Annual Warren County Humanity Day. Photos courtesy of Jennifer Avery.

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Warren County Market Report – March 2019

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Watch this video for a quick summary of Warren County real estate for March 2019. Charts demonstrate the changes in the market, so be sure to click play!

In general summary:

  1. Pending sales are UP by 23.5%.  We are making up for the decrease we experienced in closed units last month!  GREAT!
  2. Average Median Sold $254,500 this is an 11% increase from last year.
  3. Average Days on Market 103.

*If you would like a copy of this report emailed to you, please send request to Jennifer@nexthomerealtyselect.com.

Resource: 2019 Market Stats by ShowingTime
MRIS: Statistics calculated April 4, 2019

Jennifer Avery, Realtor for NextHome Realty Select
BPOR, SRS, CNE, E-Pro Certified | Licensed in VA
jennifer@nexthomerealtyselect.com | 540-683-0790
210 E Main Street, Front Royal VA
www.jenaveryrealtor.com 

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Front Royal
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Upcoming Events

May
23
Thu
1:30 pm Portraits for Beginners: People ... @ Art in the Valley
Portraits for Beginners: People ... @ Art in the Valley
May 23 @ 1:30 pm – 4:00 pm
Portraits for Beginners: People and Pets @ Art in the Valley
Learn to create realistic portraits of people and pets. Students will practice drawing and painting techniques used in portraiture. Class meets once a week for five weeks. Students are required to bring their own reference[...]
3:00 pm The Employer Expo @ War Memorial Building @ Jim Barnett Park
The Employer Expo @ War Memorial Building @ Jim Barnett Park
May 23 @ 3:00 pm – 7:00 pm
The Employer Expo @ War Memorial Building @ Jim Barnett Park
Have you been thinking about a career change? Are you nearing graduation and not quite sure what you want to do, or what your next step should be? Are you a parent of a student[...]
6:00 pm Painting the Landscape with Oils... @ Art in the Valley
Painting the Landscape with Oils... @ Art in the Valley
May 23 @ 6:00 pm – 8:30 pm
Painting the Landscape with Oils: Late Spring @ Art in the Valley
This class provides a hands-on experience for painting with oils. Students will focus on techniques for painting landscapes. Class meets once a week for five weeks. Students are recommended to bring their own reference photos[...]
6:30 pm Confederate Memorial Day ceremony @ Prospect Hill Cemetery's Soldiers Circle
Confederate Memorial Day ceremony @ Prospect Hill Cemetery's Soldiers Circle
May 23 @ 6:30 pm – 8:30 pm
Confederate Memorial Day ceremony @ Prospect Hill Cemetery's Soldiers Circle
The Warren Rifles Chapter of the United Daughters of the Confederacy will again lead the annual Confederate Memorial Day ceremony on the anniversary of the Battle of Front Royal. Where: at Prospect Hill Cemetery’s Soldiers[...]
6:30 pm Watercolor Basics @ Strokes of Creativity
Watercolor Basics @ Strokes of Creativity
May 23 @ 6:30 pm – 9:00 pm
Watercolor Basics @ Strokes of Creativity
Watercolor Basics Thursday, May 23, 2019 at 6:30 PM – 9 PM Learn the basics of watercolor painting. This is a great follow-up class from the watercolor 101 class, learn about techniques and applying techniques[...]
May
25
Sat
1:00 pm Meet the Author: Stephen Hudak @ Royal Oak Bookshop
Meet the Author: Stephen Hudak @ Royal Oak Bookshop
May 25 @ 1:00 pm – 4:00 pm
Meet the Author: Stephen Hudak @ Royal Oak Bookshop
Of Dreams and Leadership: Learning to lead and sharing along the way by local author, Stephen Hudak In this collection of essays, Stephen Hudak shares his thoughts on Leadership and Learning.
May
27
Mon
10:00 am Design a chair for the SPCA CHAI... @ SPCA of Winchester, Frederick, and Clarke Counties
Design a chair for the SPCA CHAI... @ SPCA of Winchester, Frederick, and Clarke Counties
May 27 @ 10:00 am – 5:00 pm
Design a chair for the SPCA CHAIR-ity Brunch @ SPCA of Winchester, Frederick, and Clarke Counties
Calling all artists!! Design a chair for the SPCA CHAIR-ity Brunch and save homeless animals. Pick up a chair from the SPCA Thrift Shop, build a chair, up-cycle a chair, paint a chair, or upholster[...]
May
28
Tue
1:30 pm Watercolor Landscapes: In and Ou... @ Art in the Valley
Watercolor Landscapes: In and Ou... @ Art in the Valley
May 28 @ 1:30 pm – 4:30 pm
Watercolor Landscapes: In and Out of the Studio @ Art in the Valley
This four week course will focus on learning basic skills to create watercolor landscape paintings: basic composition and use of color and value to create a sense of depth and distance. During the first class[...]
May
29
Wed
2:00 pm Introduction to Floral Painting ... @ Art in the Valley
Introduction to Floral Painting ... @ Art in the Valley
May 29 @ 2:00 pm – 4:30 pm
Introduction to Floral Painting with Hillary White @ Art in the Valley
Learn to paint flowers in landscapes, vases, close up and loosely! Use your own acrylic paint, watercolor or colored pencils. You must have basic knowledge of your medium. Instructor: Hillary White, MAT, CDA Wednesday afternoons,[...]
6:00 pm CASA Information Session @ Meet in the Middle
CASA Information Session @ Meet in the Middle
May 29 @ 6:00 pm – 7:00 pm
CASA Information Session @ Meet in the Middle
Become an advocate for abused and neglected children in your community. CASA Children’s Intervention Services is seeking volunteers who care about children growing up in a safe, permanent and loving homes. Attend an Information Session[...]