Winchester, VA Real Estate Market Update – November 2015

The Winchester, VA real estate market made its typical seasonal adjustment in Nov 2015 ChartNovember 2015. The total number of homes sold was 111 with 16.3% of them being distressed properties (foreclosures and short sales). The distressed sales were down .3% from the same period in 2014. The numbers show a consistent pattern year to year.

The only concern in the numbers from October to November 2015 is a 29% drop is overall sales. In 2014, there was also a drop, but it was only 13% showing a consistent seasonal change. What accounts for the 16% difference year to year? It may come back to inventory.

There are currently 735 homes available on the Winchester, VA real estate market. That number is still higher than a stronger local market would have. Excess inventory can create a small shift in the number of days buyers have to buy which creates a big difference in the number of homes sold. Homes are sitting on the market an average of 14 days longer than the same period just a year ago. Two weeks during a season where the weather is changing daily and daylight is limited can add up to less sales and longer days on the market. At this point, the market is following a consistent pattern with a few exceptions.

 

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