Is Winchester, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Winchester has remained a Seller's Market.
Key Takeaway
Winchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Winchester, VA
How much do homes in Winchester, VA cost?
Median Sold Price
$375,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Winchester have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Winchester was $375,000 in May 2024, up 7.4% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200.5K | $220K | +9.7% |
| 2 Bedrooms | $249.9K | $255.7K | +2.3% |
| 3 Bedrooms | $322.3K | $345K | +7.0% |
| 4 Bedrooms | $449.9K | $492.5K | +9.5% |
| 5+ Bedrooms | $580K | $631K | +8.8% |
Summary: Winchester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Gainesboro | $374.9K | $429K | +14.4% |
| Red Bud | $350K | $385K | +10.0% |
| Winchester | $342K | $374.8K | +9.6% |
| Winchester | $349.2K | $375K | +7.4% |
| Stonewall | $377K | $400K | +6.1% |
Housing Supply in Winchester, VA
How many homes are available in Winchester, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 333 | 356 | +6.9% |
Summary: The Winchester real estate market had 356 homes for sale in May 2024, a 6.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 49 | 44 | -10.2% |
| 3 Bedrooms | 153 | 166 | +8.5% |
| 4 Bedrooms | 102 | 103 | +1.0% |
| 5+ Bedrooms | 29 | 42 | +44.8% |
Summary: The Winchester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 10.2%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 44.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 66 | -17.5% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Winchester, you could pay more than the asking price. 37.9% of homes here sold above asking price last month.
Summary: A total of 66 homes were sold or pending in Winchester in May 2024, down by 17.5% month-over-month. Of the 66 sold homes, 35% were sold under asking, 27% were sold at asking, and 38% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 25 Days | +11.3% |
Summary: Homes in Winchester had an average of 25 days on market in May 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 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 May 2024, 66 homes were sold in Winchester; 79% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
