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Spring Market Data: 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).

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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.

Month

# of Homes Sold Median Price of Homes Sold
MAR 2011 13 $645,000
APR 2011 15 $651,000
MAY 2011 13 $765,000
JUN 2011 27 $812,500

Source: MLSPIN Total Sold Market Statistics

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.

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