The Winchester, VA real estate market is getting stronger every month.  At the end of the first six months of 2013, there is solid evidence that the market has made substantial gains in recovery.  The number of closed sales for the first six months is up 9% from 654 in 2012 to 720 in 2013.

That's great news, but there is better news in the numbers.  The first six months of 2012 saw 90 short sales and 161 foreclosure sales.  The 2013 numbers are where the really good news shines.  Of the 720 closed sales in the first six months, only 66 were short sales and 118 were foreclosure sales.  Short sales are down 26% from the same period last year, and foreclosures are down 27% in 2013.  That's significant.

The market seemed tenuous in the early days of 2013, but as the year has progressed, it appears to be strengthening.  What's behind the improvement?  There are number of things that have sparked buyer involvement.  The Federal Reserve's comments about the end of quantitative easing caused a sudden increase in interest rates.  That news, along with the slow but steady climb in real estate prices has caused a lot of fence sitters to get in the game.

The local real estate market started to transition from a buyer's market to a seller's market late in 2012.  By all appearances, sellers are in charge today.  Prices are more stable.  Sellers are less likely to give concessions at the level they would have two years ago.  Foreclosures and short sales are selling closer to list than just 3 months ago.  It is becoming a solid sellers market.

The good news for buyers is that the inventory is coming up.  After a low inventory first quarter, inventory is climbing.  Sellers are finally realizing that market has turned to their favor.  That means more properties on the market which increases competition and potential  price savings for buyers.  No matter how you look at it, the Winchester, VA real estate market is getting stronger.