Winchester, VA real estate trends: June - October 2013

By
Real Estate Broker/Owner with Cornerstone Business Group Inc 0225086119
http://actvra.in/478C

Trends take time to form. In real estate, spotting a trend early will help buyers and sellers determine if it's a good time to buy, sell or hold.

The Winchester, VA real estate market for new listings is in the early stages of showing a curious trend. Each month, new listings come on the market. Some of those listings are going to be fair market sales and some will be distressed sales.

Throughout the early months of 2013, distressed listings had been declining. That was a good trend, but the new trend is showing an uptick in distressed properties.

In the month of June, there were few new listings (47) and no distressed listings. July showed a minor increase in new listings (50), and there was also an increase in distressed listings (1 short sale and 2 REOs).

August had an increase in new listings with 69. Of that number, there were 2 short sales and 2 REOs. September showed the biggest increase in new listings in the second half of 2013. September had 128 new listings which included 4 short sales and 2 REOs (5%).

The October listings numbers pulled back slightly with 121, but the short sales increased with 7, as did REOs with 5 (combined 9%). Five months does not necessarily make a trend, but the trend is consistent.  

The November and December numbers may solidify the new trend, or they may show that the last five months have only been a blip on the screen. If the trend continues, buyers, seller and real estate agents may need to adjust their future real estate strategies to meet their desired goals. 

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Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Mike it's our job to not only know the current market but to recognize where it's heading.  If nothing else, 2006 and 07 taught us that.

Nov 21, 2013 12:35 AM #1
Rainmaker
1,248,422
Mike Cooper
Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Sales Pro

So true, Charita. 

Nov 21, 2013 09:31 PM #2
Rainmaker
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Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Mike, it is fun to watch the numbers month by month and determine how the market is moving!    

Nov 21, 2013 10:57 PM #3
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Rainmaker
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Mike Cooper

Your Winchester, VA Real Estate Sales Pro
Winchester has a place for you! Call me.
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