The City of Winchester, VA (22601) saw a substantial change in its real estate market in January 2015. The dollar volume of real estate sold within the city limits rose 37.81% over the same period in 2014. The median price range was $220,824. That is up from $187,000 just a year ago (a 31.54% increase). That's good news for would-be sellers.
The average days on the market lingered around 89 days, just one day off of 
2014's DOM. Of the 22 properties sold in January 2015, 6 were on the market 31-60 days. Five sold in less days, and 11 sold in more days. The next largest block of days on the market were 121-180 (6). Only one exceeded that number.
The surrounding county is showing similar numbers, adding to the local real estate market improvement. Frederick County, VA zip code 22602 saw a 36.78% increase in dollar volume over 2014. The 22603 zip code saw a decline (-37.52%) in the dollar amount sold in January 2015, but it is the smaller market of the big three zip codes in the Winchester area, and it had less properties sold year over year.
Overall, the Winchester, VA housing market is making a comeback from the recession of 2008. It has been a long slow process, but it has been a solid recovery. Foreclosures and short sales are down, prices are up, interest rates are still low and it is a great time to buy or sell. When you're ready to get involved in the Winchester, VA real estate market, give your Cornerstone Business Group, Inc., agent a call. We are your local real estate sales pros.
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