The June 2015 real estate market in Winchester, VA continued to show growthand stability. There was a 35% increase in homes sold in June over May 2015. That’s substantial since May was 17% higher than April 2015. Distressed properties stayed at 9% for the month.
The total value of original list prices for properties sold in June was $62,782,340. The value of sold properties was $60,158,1000. That’s a 4% difference from list to sold. That number is slightly higher than May 2015. May was only 2% of original list to sold. That increase is not significant enough to warrant concern at this point. A significant decrease from original list price to sold price can hint of a coming buyer’s market. Properties sit longer pushing prices down while attracting more buyers into the market. It can also mean that property prices were simply a little more optimistic at the time of their list than the market could bear.
Another positive number from the June 2015 market is days on the market. June average days on the market were 59. May 2015 was 64. Here again, the change is not significant enough to demonstrate a major change, but anytime days on the market show a decline that can represent a number of things. One, homes are being priced well for the current market. Two, there are sufficient buyer’s entering the market to push inventory lower. Both add to a healthy market.
Winchester, VA Real Estate Market Update – June 2015