Winchester VA Real Estate Market Slowed in November 2012

By
Managing Real Estate Broker with Winchester Real Estate Sales, Cornerstone Business Group Inc 0225086119
http://actvra.in/MlM

The Winchester VA real estate market slowed in November.  There were 89 properties closed in November.  That is down 24% from October 2012.  October closed 118 properties.  Ironically, October was up 6% from September.  Is it any wonder that individuals are having trouble timing the market?

Distressed properties played a significant role in November.  Of the 89 properties sold, 31% Winchester VA Real Estate Sales Sept - Nov 2012were distressed properties.  Short sales made up 16 of those sales, and foreclosures made up the remaining 12. 

The last week of the month closed 8 distressed properties, or 39% of closed sales.  Those distressed property numbers may sound high, but of the currently available properties, they only make up 15.5% which is trending downward.

The 2012 Winchester, VA real estate market has had a whipsaw affect on sellers and buyers.  Some buyers have waited and waited for the right moment to jump into the market, and sellers have waited and waited for the right time to jump out.  They are on opposite ends of the spectrum, but they've been more like two people going through a swinging door and meeting in the middle at the same time.  Nobody really makes much progress, but somebody has to give a little more to make the door swing.

 

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Rainmaker
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Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Mike.  The real question is "are the distressed property becoming the comps"?  I have no idea how this print occurred.  Sorry:(

Dec 02, 2012 04:17 AM #1
Rainmaker
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Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

Unfortunately, they have, Conrad.  I've had a couple sales where the price had to drop because of the appraisal that was full of REOs and short sales.

Dec 02, 2012 04:14 PM #2
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Rainmaker
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Mike Cooper

Your Winchester, VA Real Estate Pro
Winchester has a place for you! Call me.
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