The Winchester, VA real estate market is through the first third of November. As of the 10Th of November, the local Winchester / Frederick County market has 478 properties available. Eight percent of those properties were added in the first ten days of November. Of the 34 properties added since November 1st, 33% are distressed properties, with the majority (9) being REOs.
The current market is continuing it's overall trend of 17.3% distressed properties. Short sales make up 47 current listings, while foreclosures (REOs) make up 37 properties. These types of sales have changed places since the beginning of the 2012. Short sales are taking a more prominent place in the local distressed market.
The rise of REOs during the first ten days of November is a trend to be monitored closely. Does it signal a return to the previous wave of foreclosures in the area, or is it simply an anomaly in the market. Time will tell. Which ever way it goes, strategies are likely in need of adjustment for buyers and sellers.