If you have had a feeling that the real estate market has been odd lately, you might be on to something. The third quarter numbers are all over the place. Sales have increased in some markets and declined in others. Prices are mostly up in the local markets, but they are down in some. The days on the market and volume of sales might be the most telling changes this past quarter.
For instance, Winchester City had ninety-six sales in the third quarter. Of those sales, sixty-one sold in 0-30 days. That means 63% of the city’s third quarter listings sold in the first thirty days of the third quarter. At the same time in 2024, there were 101 sales in the third quarter with seventy-six, or 77% selling in the first thirty days of quarter. What about in the second quarter? The second quarter of 2025 saw ninety-eight sales with seventy-seven closing in the first thirty days. That is 79% of the second quarter’s sales.
Closings in the 0-30 days have shifted twice when comparing the third quarter of 2024 to the third
quarter of 2025. There was a 5% drop in closed sales in the third quarter of 2025 compared to the third quarter of 2024. There was also a 2% drop from the second quarter of 2025 compared to the third quarter of 2025. What does this mean to the average home buyer / seller? It means that homes are selling, but some homes are sitting on the market longer than before. The volume of homes that sold in 0–30-day market in 2024 compared to 2025 dropped 20%. Twenty-percent fewer home sales in the 0–30-day range shows that homes are not moving at the pace they have in the past few years.
I sold a home in a local neighborhood about 9 months ago. It had heavy buyer traffic in the first week along with multiple offers. The home was under contract by the end of the first week. I listed the exact same home in the same neighborhood less than two blocks away, in near perfect condition, with no repair needs or upgrade needs, and it received about four viewings in the first 45 days. There was about a 4-month gap between those listings. At that point, the market had already started shifting. High interest rates deter some homebuyers, while national economic uncertainty affects others. Concerns about jobs and inflation have caused buyers to be more cautious.
Volume of sales and days on the market have painted a picture of where the market has been and where it may be going. In most of the five areas that make up the Shenandoah Valley real estate market, the same pattern seen in Winchester City has also occurred. Although some numbers fluctuate slightly, the market's overall performance has aligned with Winchester City. The next quarter may indicate if the market ramps up for 2026 or if it slows down further.
Comments(5)