The Winchester, VA real estate market continues to show signs of improvement, but it is in inches rather than leaps. The current market has 513 available properties spread over the Winchester City and Frederick County area.
Of those 513 listings, 15% are distressed properties. That's par with the April numbers, but it's a 3.3% drop from the beginning of the year. The number of available listings have increased since April, and with the decline in distressed properties that's a positive trend. Frederick County, which has more available properties, holds 16% of all distressed properties, while Winchester City has dropped to 13%.
The more startling numbers come when you look at pending sales. There are 321 pending sales in both Winchester City and Frederick County, VA. The pending sales may give a better window into where the market has been. In Winchester City, 48% of current pending sales are distressed homes. Frederick County has 46%. Again, those are high numbers, but it is only 47% combined. It has been as high as 63% this year.
That's also an encouraging trend. The number of available listings are up. The number of available distressed listings are down, and the number of pending distressed properties have fallen 25% since the beginning of the year. The shift in the Winchester / Frederick County real estate market is in the right direction. It's moving slowly, but that tells me that bargain hunters still have opportunities if they move now.
The Winchester, VA real estate market continues to show signs of improvement.
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