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Real Estate Trends in Winchester, VA - April 21, 2012

By
Real Estate Broker/Owner with Cornerstone Business Group Inc 0225086119

Real estate in Winchester, VA has only seen minor changes during the first three weeks of April.  The trend for 2012 has been a decline in distressed properties and an increase in fair market properties.  At the beginning of April, there were 582 available listings.  Today, there are 580 available listings.  That is a minor change, but it does hint at a slowing of the market.

Winchester has increased in foreclosures from 4 on April 1 to 7, three Real Estate Trends in Winchester, VA - April 21, 2012weeks later.  That may seem like a small number, but it is a 43% increase in lender owned properties.  Short sales in the city of Winchester have also increased by 1 from 11 on April 1st to 12 today.

Frederick County has seen a similar trend.  Foreclosures are up 18% from 27 to 33.  Short sales have followed an inverse trend from 43 to 40 from April 1 to April 21.  Can a trend be forming?  Is it a slower market?  Is it an increase in distressed properties.  It is hard to say at this point.  Three weeks is a small view of the current market, but one thing it does show is that real estate in Winchester, VA has only seen minor changes during the month of April.

Comments(8)

Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

You did a really nice job on this market report Mike. We're seeing our distressed sales decrease as a percentage of the overall market. Different everywhere, isn't it??

Apr 20, 2012 11:27 PM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

It is, Karen.  We had seen a pretty fast decline through March.  April has been flat.  Hopefully it's just an anomaly.  

Apr 20, 2012 11:28 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Mike, Nicely laid out on this market trend. I never like seeing distressed properties on the increase but a preferred option for most buyers and their agents over an annoying short sale.  We just have to get them sold and off market.

Apr 21, 2012 12:31 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Things were looking up through the first quarter.  I'm going to trust this is just a bump in the road.  Have a great weekend!

Apr 21, 2012 12:40 AM
Cheryl Thomson REALTOR Ret Army
United Real Estate DC Metro Region (703.216.5635) cheryltee47@gmail.com - Prince William, VA
Associate Broker in Northern Virginia

Hi Mike.  I just did a blog in general on foreclosures.  I need to start working on my market reports. Your graph is easy to read and figure out.

Apr 21, 2012 12:51 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

I'm just getting started with them, Cheryl.  It's my objective this year.  I want to get more local info out.  It will go to my WP site mostly, but I'll share on AR too.  

Apr 21, 2012 12:54 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Michael, as always you know your stuff.  Our market in Denver is changing so fast and getting better.  Have a great weekend.

Apr 21, 2012 01:17 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Thanks, Will.  You do the same.  

Apr 21, 2012 03:03 AM