The Winchester/Frederick County, VA real estate market for May 2015 showscontinued improvement. Improvements have been small and incremental overall, but all improvements are welcome. The total number of housing sales in May were 151 with only 9% distressed property sales.
Surprisingly, the number for May 2015 are nearly the same as May 2014. May 2014 had 154 sales with 9% distressed property sales. The lack of difference year to year may not mean that much considering the overall market change month to month.
The Winchester/Frederick County, VA real estate market bounded forward in May 2015 compared to April 2015. Total sales were up 17% from April with a 2% drop in distressed property sales. That’s the first real sign of a market making a vertical move since the year began.
From January through April, the Winchester/Frederick County real estate market was moving horizontally. It entered a period of equilibrium that is rare in local markets. Most of the time, a market is either a buyer’s market or a seller’s market.
The first four months of 2015 were basically even. Sellers were not able to move their listed prices up as much as they wanted, and buyers were not finding the bargains they desired. On average, properties were selling within 2% of list. The give and take between buyers and sellers were marginal.
May 2015 may be the first sign of a market shift for this year. The May 2015 days on the market averaged 64. That is 12% improvement from 2014. Some changes in the Winchester/Frederick County market have been small and incremental, but smaller long-term improvements are more sustainable than rapid unsustainable improvements. All improvements are welcome, and it looks like we’re heading in the right direction.
Winchester – Frederick County, VA Real Estate Market Report – May 2015