Market reports aren't always exciting or sexy, but they do give you a great snapshot of what's happening in a specific area at a specific time. When the national news is giving buyers and sellers one view of the real estate market it can skewed very fast. The reality is that all real estate is local.
The available homes for sale in Winchester, VA are increasing. The current available listings total 563 at week three of March 2012. Each week in the month of March has seen a change. This week, inventory is up slightly, distressed properties dropped another 1.2% and prices are starting to stabilize, though not climbing radically.
Winchester City has 115 current available listings. Of that number, 11 are short sales and 4 are REOs. Frederick County has 448 available listings with 45 short sales and 36 REOs. The distressed properties in February 2012 were 18.8%. In the first week of March that number fell to 18.2%. By week three, the number of distressed properties have fallen to 17%.
The lower number of distressed properties, and the increase in inventory, is a good sign that those who were sitting on the fence waiting for the right time to sell have finally started jumping into the market.
If you are thinking of selling your property this year, now might be a good time to call your Cornerstone Business Group, Inc., agent. Things are moving, and you will want to get ahead of the crowd that evolves when the weather gets and stays warm. Buyers are buying. Sellers, if you're ready to sell, let's get together and see what we can make happen.
Available Homes in Winchester, VA - March 23, 2012