Winchester, VA Real Estate Tour: Why Virginia's Fastest Growing City is Booming with Chris Colgan

"Winchester, Virginia is actually the fastest growing city in all of the Commonwealth of Virginia. It's 50% higher than the state average." (0:00) "Winchester's current population. As of July 2024, there's 29,294 people with an annual growth rate of 1% with Virginia's average growth rate at just.7%. Winchester's growth is 50% faster than most of Virginia." (0:52) "Consistent year-over-year expansion, steady consistent growth, and not a one-time population spike. So, we're talking since 2020." (1:09) "Relocation stats show that educated professionals are actually looking for that small town feel that Winchester offers. And Winchester doesn't actually give up that big city jobs, right? You still have somewhat access to DC. Homes cost a lot less than they do here in Northern Virginia ... and hundreds of thousands can be saved, and it's attractive for educated professionals with better value and quality of life." (1:17) "I actually saw that Winchester was named the number one place in all of America to retire." (2:04)

"You can get a new home for around5 to 600,000. The same house in Fairbanks would be a million dollars." (5:15) "Home prices in Winchester have actually jumped 9% year-over-year. And the medium home price is 395,000, which is a lot more affordable than Northern Virginia. But prices keep climbing. Houses sell on average in 25 days. It's fast. Homes receive multiple offers the first week. Competitive bidding isn't unusual and buyers must be ready to move quickly." (5:37) "I just had someone with the Army Corps of Engineers buy a brand new house at Winchester and I was able to get him $20,000 in incentives from the builder." (6:20) "A $500,000 house in Winchester is probably going to be 1.2 million close to DC." (6:48) "You can get a basic townhouse in Northern Virginia for $600,000. The same money in Winchester will get you nicer and more space and the best schools." (7:03)

"Winchester's metro area ranks second for economic strength in all of Virginia. It's beating much more bigger cities like Norfol and Richmond. Winchester has more jobs now than it did precoid. And other cities in Virginia still haven't not even come anywhere near recovery." (2:35) "There's actually growth among multiple sectors like retail expansion, transportation and logistics companies, manufacturing, schools are hiring more and healthcare is definitely booming." (2:53) "Winchester has become a job market for the region. People drive in from other counties. more money for local businesses, restaurants, and retail stores. So, the job growth in Winchester is actually beating the state average. Wages are going up faster than other similar Virginia cities. And workers score higher on skill test." (4:15) "You have diversification across all kinds of different industries. It's not dependent on like one primary sector like the government or maybe a data center industry ... And if any take a hit, the rest could actually keep the economy there in Winchester still stable." (4:33)

"Right now, Winchester has 42 active development projects in the works. 42 projects with funding, permits, and construction timelines. And the best thing, most will be done by the end of 2026." (10:58) "Valley Health is building a new rehabilitation center, 107,000 square ft, specialized medical care for people recovering from strokes, brain injuries, and major surgeries. Latest therapy equipment that's going to open in late 2026. Valley Health is also building a new primary care center on Grocery Avenue with 19,000 square feet underserved parts of Winchester with 18 exam rooms, a full lab, and that's going to be opening this fall." (11:09) "The Reserve at Winchester, a 246 unit apartment complex coming in 2026, garden style apartments with lower buildings, more green space." (11:37) "Ward Plaza ... an old struggling shopping center that was sold in 2023 that's actually getting a complete doover. a new version of that shopping center will have a Publix as a main acre, apartments, town homes, smaller retail shops, completely walkable bike paths." (9:40) "You got the new fire station on Les Mammoth Street. Construction starting this year." (11:57) "15.2 million just on Milwood Avenue. Traffic is expected to double by 2045." (10:22)

"You obviously have Shannondoa University, which a ton of my friends went there. That is an absolutely beautiful campus over there. And that's another driver of Winchester's economy and community growth for sure. Located in the heart of the city, enrolls 4,000 students annually across more than 200 areas of study. It's nationally recognized programs in health sciences, business, and the arts. Attracts students from pretty much all over the world." (3:04) "Winchester is actually home to John Hanley High School, which is one of the most beautiful and wellrespected schools in all of Virginia ... Hanley consistently ranks some of the top performing high schools in the state. It's got a unique funding model supported by private board of trustees. Provides access to top tier facilities and program and it has high performing schools like Hanley are a major reason why families choose Winchester for the long term." (3:40) "Then you have Laurel Ridge Community College, largest dual enrollment program in Virginia. Allows high school students to take college classes, graduate with diploma, college credits, built-in training pipeline for the local economy." (4:04)

"Let's talk about this master plan. This isn't just some wild phenomenon, right? Like the growth is being directed by city leaders and who have a specific plan for managing the expansion. So the comprehensive plan created in 2022 roadmap for the next 10 to 20 years, 10 areas with different goals focused on building up concentrated areas, apartments and town houses near downtown, mixeduse buildings above shops and restaurants." (8:34) "Winchester. The city area I guess is probably only about 9.3 square miles with limited room to spread, right? So focuses on making better use of the all the existing space they have." (8:59) "You got downtown that stays as a main business district. Then you have Meadow Branch Avenue gets redesigned as a major corridor. The old natural fruit area transforms into industrial into mixed use." (9:17) "The plan identifies five key areas that drive most changes. Downtown stays as the main area where Berryville Avenue gets a makeover as the main entrance to the city and then Ward Plaza as having the biggest transformation." (9:29) "Clear rules of what developers can build. So no guessing games, no long approval process, and faster progress for the city." (10:10)

"One community that I would definitely consider if I was like looking outside of Winchester is going to be Lake Frederick. Now, Trilogy Homes, they have a 55 plus area. Then there's regular town homes there as well ... That place is absolutely beautiful. You have the huge lake there." (8:01) "If you are going to consider Winchester, which I think you should, you might want to consider Steven City. It's about the same price point. There's still some great things. You're also still over by that Alamo Draft House. You're still close to Valley House and you're right off Interstate 81." (12:45) "Lake Frederick, which is the fastest growing lake community probably in Virginia right now. It's over 100 acres surrounded by scenic walking trails, picnic spots, and stunning views of the Blue Ridge Mountains. And a bunch of my friends that I lived out here in Northern Virginia, moved there, and of course, I sold them all places. And you have the 55 adult community with a lakefront clubhouse. And it's ideal for those seeking tranquility with easy access to everything Winchester offers like shopping, healthcare, jobs, and culture. Home values here are rising fast." (13:09)

"One of the things if you're not familiar with Winchester is they have the Apple Blossom Festival. They actually had Carlton from the Fresh Prince, you know, the guy that does the dance thing. He actually was the uh grand marshall. Then my friend Brian Mitchell, who's a former Redskins, so they have the huge parade that's kind of like a spring kickoff. It's like a carnival that goes on all week." (8:17) "The walking mall there is absolutely beautiful. I think there's a sign there that says like started in 1787. So there's also a ton of history in Winchester." (9:09) "Lake Frederick ... over 100 acres surrounded by scenic walking trails, picnic spots, and stunning views of the Blue Ridge Mountains." (13:11) "Winchester sits between Washington DC and the Shannondoa Valley." (13:52)

"Houses sell on average in 25 days. It's fast. Homes receive multiple offers the first week. Competitive bidding isn't unusual and buyers must be ready to move quickly." (5:50) "I work with a lot of people that watch this YouTube and we'll go around Winchester and we'll do uh virtual tours. That's really common cuz you have a lot of people from the Army Corps of Engineers moving into Winchester, the FBI or a lot of people who move in Ashurn." (5:57) "More people are buying than selling. Builders are constructing, but not fast enough. And the market isn't keeping up with demand comes from population growth. Young professionals and families are choosing Winchester and new jobs are creating more people with money to spend." (6:29) "Prepare for competition. Houses priced right that show well will sell really fast and you might need to make offers over asking price. We do a thing a lot here in Northern Virginia or the Virginia area called an escalation clause and that's something that I can help you with." (7:26)

"You can get a new home for around5 to 600,000. The same house in Fairbanks would be a million dollars." (5:15) "A $500,000 house in Winchester is probably going to be 1.2 million close to DC and even better now with remote work." (6:48) "You can get a basic townhouse in Northern Virginia for $600,000. The same money in Winchester will get you nicer and more space and the best schools." (7:03) "Winchester sits between Washington DC and the Shannondoa Valley." (13:52) "The cool thing about Steven City and Winchester, you're not that far from Ashurn and Lowden County. So, a lot of people will move out to Winchester who are working in that tech corridor or maybe Data Center alley." (13:00) Winchester offers that combination of small-town feel without giving up access to big-city jobs, with hundreds of thousands in savings and way better value than Northern Virginia.