Blog :: 12-2011
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).
Heading 3So, 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.
|# of Homes Sold||Median Price of Homes Sold|
Source: MLSPIN Total Sold Market Statistics
Bottom LineOur 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.
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.
Shanahan Real Estate Group's Rebecca Brennan-Laird contributed this post about the One Shining Night event to benefit Winchester Hospital. Each year, Shanahan Real Estate Group attends this really fun and festive event where we dress up, meet friends and support a very worthy and local cause. Thanks, Rebecca! Shanahan Real Estate Group of Winchester, MA was a proud sponsor of the Winchester Hospital One Shining Night Gala held on December 3rd at the Westin Waterfront in Boston. It was a beautiful night with everyone dressed in formal attire and raising money for a great cause. The MC opened with a real estate joke, which we particularly enjoyed, and we danced the night away to an amazing band. It was a wonderful way to support the hospital and all they do while enjoying an evening with clients, friends and colleagues. It is an event we sponsor every year and are very proud to be a part of.
Shanahan Real Estate Group and FAN would like to take a minute to thank everyone for a very successful First Annual Turkey Trot for Kids. We had about 100 runners participate this year! We would especially like to thank our sponsors who helped in donating goods and services to this event, specifically Dunkin Donuts, Starbucks, Stop and Shop and Peterson Party Center. We would also like to extend a big Thank You to all of the runners and their parents for participating in this great event. With all of your contributions, we were able to make a substantial donation to the Bridget Brigade Foundation and have some fun on Thanksgiving morning.