If you’ve been sitting on the real estate fence wondering when it would be a good time to jump in, it’s now. The real estate market in Winchester, VA is starting to shift toward a seller’s market. The number of foreclosures are dropping, and even though short sales have taken on a greater role, they are also dropping.
Property values are starting to stabilize. The odds of grabbing that property that is radically undervalued and a great opportunity are quickly slipping away. Buyers who are looking for deals need to jump off of the fence soon. If not, it will be too late to get a discount on a great home. The local market is turning in favor of sellers.
That’s good news for sellers. Of the 321 homes currently pending in Winchester, 165 of them went under contract in less than 30 days. Of that number, 83 went under contract in less than 10 days, and 45 went under contract in less than 5 days. What does that tell you? It’s time to get your property listed because they are selling quickly. The Winchester, VA real estate market is shifting in favor of sellers. It’s time for buyers to jump off the fence before they miss a great deal.