The Winchester / Frederick County real estate market is showing signs of serious market shift. Our inventory of available properties have dropped to 461, down 13% from the end of 2012. The number of pending properties currently stands at 321. The number of pending 
properties that went under contract in 30 days or less is 165. More than half of the currently pending properties have gone under contract in the first month on the market. Fifty percent of those properties went under contract in less than 10 days.
Good quality, ready for list, properly priced properties sell quickly. Even lower quality properties will sell quickly if they have room for ROI. One of the biggest shifts in the local market has been in the recurrence of bidding wars. High value properties will attract multiple offers early in their list. Sellers are looking for clean contracts with no or few contingencies.
Cash still attracts sellers, but many sellers are willing to wait for a better deal even it means a future closing date. Sellers are shifting back into the drivers seat. Buyers need to be educated in the changes in the local market. A buyer who enters the market with 2010-2012 ideas will be left empty handed as the market continues to climb.
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