Real Estate Market In Winchester MA

Low Housing Inventory Means a Great Time to Sell in Winchester!

It's a great time to sell! Better Homes and Gardens The Shanahan Group's Nic Gatto explains why.

 

Low Inventory = Great Time to get Top Dollar for your House

The Winchester real estate market had a very good year in 2014 with average home values rising 6.3% from their 2013 levels, according to Zillow.com. Interest rates remain at record lows, with the average rate for a 30-year fixed rate mortgage currently at 3.86%. Qualified buyers are currently waiting on the sidelines to swoop in and purchase, even over-pay for homes. Winchester’s top rated school system, along with its close proximity and easy commuter rail access to Boston, has potential buyers lining up.

Right now only twelve of twenty-eight total properties for sale in Winchester are priced under $1Million. You don’t have to be Alan Greenspan to understand the principals of supply and demand, it is a very simple concept.

When there are only a few homes for sale and many qualified buyers, prices will inevitably rise. This places homeowners in a great position to sell their homes for the most money possible. 

Historically, sellers have placed their properties on the market at the start of spring, as that is the time of year buyers begin looking for new homes. Low inventory has thrown conventional thinking out the window. The laws of supply and demand dictate that getting your home on the market now is your best bet to get top dollar. In the past six months, sixty-seven properties have sold under 1 million dollars in Winchester, over 46% of them sold over asking price - and over 67% had an accepted offer that resulted in a sale in less than 30 days! If you have been considering selling your home, don’t hesitate. Now may be the best time in years to get top dollar for your home.

According to a recent report on WCVB.com, 2015 will be the biggest year in home sales in ten years. They state many reasons - from continuing low interest rates to pent up buyer demand, and the strength of the overall economy. Another factor indicated is that home owners’ equity has increased nearly 20% in Massachusetts and New Hampshire since 2011. This provides a lot of flexibility to home owners.

The Redfin Research Center in late December 2014 stated that the percentage of buyers who feel now is a good time to purchase a home, is up 6% from only this past summer. Furthermore, those buyers surveyed identified some of the top home characteristics they are looking for. The top two being-36% chose short commutes and close proximity to amenities (such as coffee shops), and 21.2% stated a highly rated school district as most crucial to their move. Winchester offers buyers both of these characteristics, therefore illustrating why Winchester is such a hot market.

 

My family has been in the real estate business since the 1940’s in the greater Boston area. I represent the third generation of real estate experts helping people buy and sell real estate. I am well-acquainted with Winchester. I grew up in town, and currently live here with my wife and our three children.

As in most professions, teamwork is essential in providing the best service, which is why you should choose Better Homes and Gardens Real Estate The Shanahan Group. We bring the highest level of professionalism and service to our clients. We have helped people buy and sell property in Winchester with a collected value over $47 Million in 2014.

Call or email me today to get your home in the “just sold” category for 2015. 

Nic Gatto

Price Reduced to $599,000 - Open House - 10/21 - 1-2:30pm at 124 Arlington Street, Winchester

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Just reduced. There is no better value on Winchester's Westside than 124 Arlington Street. Check it out at tomorrow's open house from 1-2:30pm.

Best Value for Winchester's Westside

Charming Custom Westside Cape in desirable Ambrose School neighborhood. Four spacious bedrooms with two bedrooms on each floor or room for office, High ceilings and pretty paneled fireplace Living Room. Family Room off kitchen has wood stove and lovely views of private garden and patio. Potential to develop additional gardens with attractive tiered yard.Great floor plan and ease of living in this attractive home.

Nationwide Open House Sunday: An Opportunity for Buyers

NAR OH Weekend 2012

Shanahan Real Estate Group will have open houses today from 1-3PM.

This weekend, Shanahan Real Estate Group is participating in Nationwide Open House Weekend. This is the third annual event, organized locally by the Massachusetts Association of Realtors (MAR).

About National Open House Weekend

Since its first year, Shanahan Real Estate Group has participated and coordinated all of our open houses to ensure that buyers had a very clear day and time to see as many of our listings as possible. While open houses are only one component to a successful marketing plan, most buyers utilize open houses as a first step in the home buying process.
From the Massachusetts Association of Realtors: "This third annual event gives buyers at all levels a stress-free way to see a wide range of homes for sale and learn more about home ownership. This includes learning about the buying process and the local real estate market to information on the local community. REALTORS are also a good source of information on housing issues at the local, state and federal levels that may impact current and future home owners. For sellers, the weekend will provide additional exposure of their homes to interested buyers."

Who goes to open houses?

68% of buyers in Massachusetts take advantage of visiting an open house as part of their home search process. Nationally, only 45% of buyers do. Home buyers in the northeastern United States visit open houses more frequently than any other region in the country. 94% of all buyers felt going to an open house was either very useful (56%) or somewhat useful (38%). 79% of sellers in Massachusetts used an open house to help market their home. Only 58% of sellers nationally used open houses. (The data is from the 2011 Massachusetts Profile of Home Buyers & Sellers, compiled by the National Association of Realtors (NAR), on behalf of the Massachusetts Association of REALTORS (MAR)). Open Houses Today Our listings at 1 Ivy Circle, 12 Plymouth Rd, 161 Cambridge St, 98 Wildwood St and The Ledges Unit 57 will all be Open today (4/29) from 1-3PM. For more information and a list of all open houses in Winchester today, visit our website. And as always, there is a very friendly and knowledgable agent in our office ready to answer any questions that you might have about a specific property, the local market or about the process of buying a home in general. Stop in or call us anytime!

One Ivy Circle: A Colonial filled with tradition and renovations.

One Ivy Circle, Winchester

1 Ivy Circle, Winchester: A Colonial filled with tradition and renovations

Shanahan Real Estate Group and Paula Sughrue present 1 Ivy Circle, Winchester MA

The spring market is upon us and the inventory in Winchester is growing. New to the market is this gorgeous, meticulously maintained home nestled on a private cul-de-sac in the Flats. This spacious home boasts of a state of the art kitchen, master suite, first floor washer and dryer, finished basement and central air system. The bright eat in kitchen offers hardwood floors, granite countertops, recessed lighting and brand new stainless steel appliances. The living room includes two custom built-ins and a brick fireplace while the dining area offers classic styling accented by crisp wainscoting panels. The first-floor also offers a room off of the kitchen that could be used as a home office or den. The second floor offers four bedrooms, including a master suite with a walk-in closet. The finished lower level is ideal for family relaxation with a fireplace and brand new wall-to-wall carpeting. For relaxed outdoor living, this home also offers a brick patio with professional landscaping which includes a sprinkler system. This home is in move-in condition. Its walk to town and elementary school location contributes to its charm. Come see what this home has to offer!
Paula Russo Sughrue

1 Ivy Circle, Winchester: A Colonial filled with tradition and renovations

Real Estate at the End of the Year

While we are all running last minute errands, attending holiday parties and decorating our homes, the real estate market continues. It is a slower pace than earlier in the year, but there are serious home buyers and sellers in the market. Here are some interesting facts and insights from Shanahan Real Estate Group about the end of the year real estate market in Winchester. 1. Last year, between November 15th through December 31st, 29 homes went under agreement in Winchester. The median sales price for this time period was $819,000, about $50,000 above Winchesters typical median sales price. 2. Today in town, there are 81 homes on the market with a median price of $699,900. Last year at this time, it was a very similar picture with the same median price and 85 homes on the market. 3. While there may be fewer buyers in the market in these last few weeks, those buyers that are active are very serious and tend to be more motivated about making a purchase. 4. It is true that buyer demand is generally higher in the spring market, but with this demand comes more competition from other sellers also listing their homes at this time. If your home is on the market today, you are competing with fewer listings than in other times of the year, particularly the spring market. 5. We find that the holiday season is a time where many families begin thinking about their home and their future needs, while enjoying some downtime from work and school. Many of our friends and neighbors stop by the office, call or email after the New Year to talk about the market in town and what their plans might be. If your plans for the New Year might involve a move, let us know. We love what we do and are always happy to talk real estate! Look for our blog next week with insights into the early winter market. In the meantime, enjoy these festive holiday weeks with family and friends.

Kid's Turkey Trot

Calling all kids ages 3-9!!!

turkey trot logo

First Annual Turkey Trot

Shanahan Real Estate Group has teamed up with the Family Action Network of Winchester (FAN) to kick off ourfirst annual Kids Turkey Trot on Thanksgiving morning at Lincoln School. All proceeds from the race will go to benefitthe Bridget Brigade Foundation. Several years ago, John & Dianne Dobbins lost their first child, Bridget Marie, to cancer before she turned 2.The couple and their three children started The Bridget Brigade with a toy drive for sick children as a way to honor Bridgets life. It was so successful that the group has grown and is now branching out to help sick kids and their families in many other ways too.

Please join us for some fun on Thanksgiving morning for a great cause!

Click here to register.

Winchester joins the fight to end Alzheimer's

Shanahan Real EstateGroup joins the town of Winchester in the fightto end Alzheimer's.

Our Town of Winchester

Its amazing how a good thought materialized into the founding local chapter of the Alzheimers Association. This is exactly what a group of residents from Winchester did. Jon McCafferty and Donna von Halle were the catalyst in organizing and recruiting team captains. On Sunday, September 25th over 100 residents from our town joined in the Walk to End Alzheimers held in Boston along the Charles River. As one of the team captains, I asked my fellow associates to join me in this most worthy cause. The Shanahan Real Estate Group stepped right up and joined into the raising of donations, adding moral support, and walking the walk! Our team raised $1,600. In all, there were over 100 walkers from this founding Winchester chapter. The spirit of giving in time and donations and support of our families made this a very rewarding day for all of us. Our Shanahan Real Estate Group was also able to keep our office open for business on the Sunday of the walk and also host open houses for some of our listings. What a great office to associate with. Borrowing a statement from a recent Boston Globe article, one in every 8 people over age 65 will have this devastating disease. - Mary Price, Shanahan Real Estate Group Thank you to Shanahan Real Estate Group's Mary Price for contributing this blog and spearheading the efforts from our office for the walk.

July Sales Data: Our Perspective

As part of Shanahan Real Estate Group's continuing effort to interpret recent market data for our local area, Felicity Tuttle provides the following insight: According to the Greater Boston Real Estate Board's online letter "On the Home Front," the news is that the sales of homes this June was lower than last year. This is not surprising when we remember that last year's federal tax credit boosted June 2010 sales over the June sales of the four previous years, thus our June 2011 numbers are still strong. It is also not surprising that, due to the absence of the tax credit, year-to-date sales of single family homes and condominiums is lower this year than last. Solidly good news from GBREB is that "pending sales of detached homes and condos rose for a second consecutive month over year-ago levels,an indication that the slowly improving job market in Gr. Boston, combined with stronger home price affordability and steady financial gains on Wall Street have provided an increasing number of home buyers with the confidence to move forward with a home purchase. In the detached single-family home market, pending sales jumped 19 percent over last June, making it the largest annual increase in monthly pending home sales since April 2010, when pending sales rose 29 percent." Again, this increase is particularly significant because the June sales last year "hit a five-year high as consumers rushed to beat the expiration of the federal home buyer tax credit." Better pending numbers this June in spite of the absence of any external incentive is a very positive sign. One factor GBREB noted as influencing this trend is the "improving job market in Gr. Boston," data which, if it continues, should bring more buyers "off the fence." I would suggest that several other factors have also been positive influences: the continued good interest rates by themselves have not been sufficiently helpful to stimulate the market, but the interest rates coupled with the fairly level and realistic pricing, (e.g. reduction in housing market volatility) together have provided more buyer impetus to put homes under agreement. Buyers are doing their own research, consulting with their agents for more data, and moving forward with caution but conviction. All of this is good news. To learn more about Felicity or her career in real estate, see her agent page.

"So, how's the market in Winchester?"

So, hows the market?

Shanahan Real Estate Group- Sale Pending Sign

Another Property Under Agreement with Shanahan Real Estate Group

We get asked this question a lot, whether on a listing appointment, showing a house to buyers or even at the supermarket. We thought we would use this forum to answer this question, as well as others we hear from buyers, sellers and friends in the course of our day at Shanahan Real Estate Group. The answer to this question is not that simple and has been changing over the course of the year so far. Springtime is usually a very busy period for the real estate market, with lots of new listings and an equal number of eager buyers. This year, we have had a surprisingly low inventory of homes for sale in Winchester. You may have seen the article in The Winchester Star recently, titled Sellers Wanted. There are buyers who have been looking in town for a long time, and are just waiting for the right house. While our data shows continued activity across most price ranges, homes that are priced right and are in great condition are the ones that sell the fastest. When a buyer finds a home, they are hesitant, waiting to make sure that we have really hit bottom, as far as prices are concerned. As optimistic Realtors, we believe that we have seen the bottom of the market in Winchester and, while no one expects any dramatic increases in value, home prices remain steady. Our community has been fortunate to have weathered the recent economic times with property values holding steady, with single digit percentage changes in value from years past.

Looking forward

We expect to see our conservative real estate market continue, with reasonably priced homes that are in good condition selling quickly. Gone are the days where a buyer walks into a home and exclaims I love this house! Lets make an offer!. Buyers are much more cautious and educated in the local market, reviewing sales data with their agents and touring the home several times, before finalizing their decision. We encourage both buyers and sellers to have this level of education and comfort with the local real estate market. Our agents are educated on a continuing basis about OUR market- Winchester and our neighboring communities. While we are bombarded with real estate headlines and trends (often negative) , its important to remember the old saying: all real estate is local. The national real estate market is very different from that in Boston and Winchester is a totally different story altogether. Our agents know the market HERE and we are always happy to talk about it.

So, hows the market? Ask one of us- we know.