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.
Blog :: 07-2011
Shanahan Real Estate Group presents 3 Fletcher, Winchester MA
This pristine, updated Victorian was built in l886 as a country retreat for the W.J. Mendum Family of Boston. It is beautifully updated for today's living, featuring a new kitchen with maple cabinets, granite countertops and stainless steel appliances. This home also has a newer main bath, sparkling wood floors, front porch and a truly welcoming foyer. Central air conditioning is on the first and second floors, and the interior is freshly painted. With its old world charm in place, this home even includes a 2nd floor day porch! Move-in ready! Steps to beach and tennis. Walk to schools, train and shopping! Welcome Home!
View the listing and additional information for 3 Fletcher, Winchester MA
To reach Mary or learn more about her career in real estate, please visit her Agent page.
Our agents at Shanahan Real Estate Group are really active in Winchester and our neighboring communities. Below is a contribution from Paula Sughrue, one of our agents and a Winchester native, on some fun summer activities in town. Enjoy! With summer in full swing and the kids home from school there are many community activities offered in Winchester, Massachusetts that are worth checking out. Here are just a few that I would highly recommend:
The Winchester Farmer's Market is an enjoyable community activity that takes place every Saturday from 9:30 AM - 12:30 PM, May thru October, on the Town Common. The Farmer's Market provides Winchester residents and neighboring communities an opportunity to buy locally grown food from farmers, handmade food providers, artisans, local businesses and non-profits. The market also aims to educate the community about the nutritional and environmental implications of the food we eat. This topic is near and dear to my heart since I am constantly trying to provide my four children with healthy food options. It's not an easy task since TV commercials and colorful labels on cereals and other unhealthy food products constantly attract their attention. The Farmer's Market is a small step my family can take into buying and learning the benefits of nutritious, locally grown food. There is also entertainment so be sure to bring a blanket to relax and enjoy. For more information on the Winchester Farmer's Market visit www.winchesterfarmersmarket.org.
CONCERTS ON THE COMMON
Concerts on the Common in Winchester is a free activity offered throughout the summer and are held on Wednesday nights from 7:00 - 9:00 PM on the Town Common. There is a schedule posted on Winchester Patch. I recommend you print this and hang it on your fridge; your kids will remind you when its Wednesday because they will not want to miss out! The concerts are a chance for families to picnic on the green grass and enjoy a variety of musical acts. There is usually lots of dancing for the young ones that the musicians encourage. My family has thoroughly enjoyed the concerts over the years. These are just a couple of the many community activities that Winchester, Massachusetts has to offer. You will get more enjoyment from the town if you immerse yourself into the community events. You will learn more about this historic town, strengthen relationships with friends and lay the groundwork for your children to feel connected to the town that will play a large part in their early years. My husband and I feel so blessed to have grown up in Winchester and can only hope that our children will share some of the same great memories we experienced as kids. To learn more about Paula or to contact her, please visit her bio page. Thanks, Paula!
At Shanahan Real Estate Group, we feel it's important to not only present and analyze market data but to pair that with our experience to provide a comprehensive picture of our Winchester market. Below is our perspective on recent spring sales data. If you are interested in discussing the market in Winchester or one of our neighboring communities, contact one of our agents- we love what we do, and always happy to talk real estate! Winchester Spring Market- Our Perspective Massachusetts Association of Realtors (MAR) reported last week May sales were down from the same time last year, while median prices for single-family homes were up both year-over-year and month-to-month. If you read this data from any of our major news sources, things seem really bad in real estate and the economy in general. This data compares sales data from May 2011 to May 2010, at the peak of the artificial stimulus created by the Homebuyers Tax Credit. We believe that these comparisons are not a good measure of our real estate market today. In fact, the May 2009 sales data is much more in line with last months sales data (Source: MLSPIN Total Sold Market Statistics). So, how does the Winchester market compare on these same metrics? As we discussed in our blog recently, its been a conservative spring market, with buyers being more cautious about value and taking time to do their due diligence. There are many buyers looking in Winchester, and well-priced homes in good condition are selling- and sometimes in multiple offers. Our sales data reflects this, with relatively flat volume through May but slowly increasing home prices. The big story is something we have been discussing in our office and with our clients- we call the late spring market. In May and through June, we have experienced a flurry of buyer and seller activity. This is confirmed in Junes sold data, both in terms of number of homes sold and median sale prices.
The Bottom Line
Our Winchester market is stable and it continues to stabilize from the turbulence of recent years, both in the number of homes sold and their selling prices. Junes sold data shows a fundamental strength in the market, with many willing and able buyers looking for a well-priced home in good condition in our town. While we dont anticipate any wild upswings in sales volume, we do think that our Winchester market is stable and the coming months will continue in our conservative but active pattern of sales.