Sellers 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

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

"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.