The Winchester, VA Real Estate Market Review for 2012

By
Managing Real Estate Broker with Winchester Real Estate Sales, Cornerstone Business Group Inc 0225086119
http://actvra.in/NZ8

The 2012 numbers are in and it's official.  The Winchester, VA real estate market is improving.  During the tenuous days of 2012, it was difficult at times to know which way things Upward Trendwere heading, but the raw data now clears that up for us.  The market is heading up!

The completed real estate transactions for 2012 came in at 1333.  That's a 4.8% increase from 2011.  Of that number, 180 closings were short sales and 273 were foreclosures.  Short sales were up from 2011 by 6%, but foreclosures showed an adverse relationship.  The 2012 foreclosure rate was down 27%.  That's good news for the market overall.  The absence of foreclosures may signal that the worst is over.

There were 375 properties sold as foreclosures in 2011.  The market was still feeling the impact of the market collapse of 2008, and the economic recovery was moving at a snail's pace if it was moving at all.  

The overall distressed property sales of 2012 were 33% of the total sales.  There was a 17% drop in overall distressed sales from the previous 2011 number.  Even though there has been a 6% increase in short sales in 2012, the overall numbers signal a new trend toward fair market sales and away from distressed sales.  Fair market sales climbed 17% in 2012.  The move toward fair market sales is a good trend to see on the horizon. 

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Rainmaker
419,736
Jim Patton
Realtor - Stanislaus & Merced county Realtor.
Century 21 M&M - 209-633-2839

Mike that is good news for the The Winchester, VA real estate market.  I think 2013 is going to be an even better year!

January 07, 2013 11:54 AM
Ambassador
1,110,656
Dick Greenberg
Northern Colorado Residential Real Estate
New Paradigm Partners LLC

Hi Mike - I just got through doing the stats for the cities in our area and it's pretty much the same good news. It will be interesting to see how the low inventory numbers affect the market this spring - I think that price increases will flush out some voluntary sellers and we'll have a correction, but it could get interesting.

January 07, 2013 12:52 PM
Rainmaker
944,931
James Dray
AR., MO., or OK. I can find the home for you.
Wise Custom Realty

Morning Mike I haven't checked this market so far this year but my business is growing and that is with no end in sight. 

January 08, 2013 02:53 AM
Rainmaker
998,054
Conrad Allen
Webster, Ma, Realtor
Re/Max Professional Associates

Hi Mike.  Let the good times roll:)

January 08, 2013 03:51 AM
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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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