Warren County/Front Royal Market Report –11/30/12

30 Nov
November 30, 2012

The average price of homes sold has experienced a significant increase of 29% in the town of Front Royal and 34% in Warren County overall!

Have Buyers finally discovered all the beauty of the Shenandoah Valley? Inventory is lower than this time last year, approximately 20% lower, in both the town and the county.

This explains why we are seeing prices rise, lower inventory and more demand: the formula needed for price increases!

Stats for Warren County

 Stats for Zip Code 22630

There is also a jump in the number of homes sold a year ago.

The average days on the market has increased which indicates that the market is entering a more stable period, not so many distress sales that sell in a few days.  FHA is still the most popular form of financing in Front Royal, it accommodates the first time home buyers very well with only needing 3.5% for their down payment.

It is no surprise that Front Royal is going up in value, the homes are still very affordable and Rt.66 is a great road for commuters! We are only an hour west of Tyson’s, and have so much to offer! The beautiful mountains, The Shenandoah River and the charming town of Front Royal are definitely the selling points of Warren County, combined with historically low interest rates it really does make this a great time to buy!

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Tracy Wenger, Sales Manager at the Avery Hess, Realtors Front Royal Office

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