Home Prices in Winchester VA for July 2014
Real estate market data for Winchester, VA provided by Beth Paisley of Long and Foster Webber.
Winchester Home Prices
We have seen 11 straight months of listing price increases on home prices in Winchester and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Winchester but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Winchester home on which you are making an offer.
If you are interested in how much current inventory is on the market in Winchester you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Winchester, homes have a median time of 84 days on the market before they sell. This would suggest that buyers are in a great position to make an aggresive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Winchester has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
The median list price in July for single family homes in Winchester is $285,410. The list prices increased by 6% from the previous month.
The price per square foot for listings in this area is $123.
The median sale price in August for single family homes is $300,068 which represents an increase of 0.8%, or $2,365, compared to the prior week. Popular ZIP codes in Winchester include 22602 and 22601, with average listing prices of $300,068 and $300,229.
The price per square foot for sales in this area is $155.
Find Homes for Sale in Winchester VA
Visit my website to search for homes in Winchester or to be notified when Winchester homes come on the market.
To find out what you home is worth in the current market email me or call 540-327-2813.