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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.