Is Winchester, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Winchester was a Seller's Market.
Key Takeaway
Winchester is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Winchester, VA
How much do homes in Winchester, VA cost?
Median Sold Price
$367,247
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Winchester have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in Winchester was $367,247 in March 2024, up 10.1% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240.2K | $200.5K | -16.5% |
| 2 Bedrooms | $248K | $260K | +4.8% |
| 3 Bedrooms | $306.5K | $340K | +10.9% |
| 4 Bedrooms | $420K | $490K | +16.7% |
| 5+ Bedrooms | $561.2K | $609.9K | +8.7% |
Summary: Winchester housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.5%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Stonewall | $358K | $415.2K | +16.0% |
| Winchester | $333.5K | $367.2K | +10.1% |
| Winchester | $345.8K | $369K | +6.7% |
| Red Bud | $353.5K | $375.5K | +6.2% |
| Shawnee | $385K | $386.9K | 0.5% |
Housing Supply in Winchester, VA
How many homes are available in Winchester, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 403 | 451 | +11.9% |
Summary: The Winchester real estate market had 451 homes for sale in March 2024, a 11.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 55 | 62 | +12.7% |
| 3 Bedrooms | 197 | 214 | +8.6% |
| 4 Bedrooms | 111 | 130 | +17.1% |
| 5+ Bedrooms | 39 | 44 | +12.8% |
Summary: The Winchester housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 12.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 | 60 | 0.0% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Winchester, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 60 homes were sold or pending in Winchester in March 2024, the same as the previous month. Of the 60 sold homes, 42% were sold under asking, 33% were sold at asking, and 25% were sold over asking.
Days on Market for Winchester, VA
How long does it take to sell a home in Winchester, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 43 Days | -27.3% |
Summary: Homes in Winchester had an average of 43 days on market in Mar 2024, down by 27.3% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Winchester are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 60 homes were sold in Winchester; 62% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
