Winchester Real Estate Market - View Winchester Real Estate Market Trends in Virginia

Winter 2012 Market Update The market in Winchester and surrounding counties is picking up. Investors are also coming out again, and with cash - they are pretty much getting the bank owned homes. It is a different market from 4 to 5 years ago - but that does not mean it is still not a good market. If you have the credit score to buy - now is the time. Deals will not get any better than this. You can always contact me at: 540-450-1626
Average Home Price	$175,000 - View Graph Trend

Average Price Compared to Last Year	Down 0-5%

Average Time on Market	90-120 days

Best Selling Price Range	$150,000 - $199,000

Worst Selling Price Range	$550,000 - $599,000

Prices As % of Asking Price	90-95%

Existing Home Prices for the past 90 days are?	No Change

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More sellers than buyers

Buyer Activity for the past 90 days in Winchester is	Increasing

Seller Activity for the past 90 days in Winchester is?	Increasing

Multiple Offers?	Yes

Multiple Offers Commentary	If their home is priced to sell - they are getting multiple offers, and quite often they are getting full price, or slightly higher than the listed price. However, short sales and foreclosures continue to be a big part of our market. We are seeing more short sales than ever before.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	More than 50%

Is Financing Available For Qualified Buyers?	Yes

Comments on Financing For Qualified Buyers	There are plenty of good lenders in the area. We have several local banks - BB and T, Suntrust, Bank of Clarke as well as Wells Fargo, Navy Federal, and Intergity Mortgage.

Housing Inventory	Good supply - Some Prices

Inventory Comments	All price ranges are available. Quite a few foreclosures & short sales, make up quite a bit of our market. According to Inman news as of June 7, 2011. Winchester, Va. was slated as the number 2 market in the U.S. for best markets for investors.

Greatest Activity	Investors

Reason to Buy/Sell	Good economic news

Nearest Metro Area	Northern Virginia

Housing Hot Spots	Red Bun Run, Twin Lakes, Harvest Ridge, Wakeland Manor, Musket Ridge have become the hot spots for foreclosed homes. Homes in 2006 in these areas sold in the upper 400,000 to 500.000 prices. Now with the short sales & foreclosed bank homes the average price is $275,000 to $325,000. They are selling within days of getting listed, and they usually have multiple offers. Agents working with their qualified buyers, have got to stay close to the market to notify them as soon as they come out. I have sold several, and the homes are in great shape. All of the above still applies. As well we are seeing the investors come back into the market. They are buying homes, and renting them out for 3 to 5 years until the market can come back strong. With the foreclosures & shortsales - those home owners still need a place to live, so the rental market is very active as well.

Average Sold Price	$175,000 - View Graph Trend

Winchester Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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