By Sven Andersen of The Andersen Team at Remax Leading Edge
 
Welcome to the Fall Real Estate Market! Although there is a lot going on with the Patriots, Red Sox, school and local sports activities, the weather is still cooperating and it is a great time to think about real estate!
 
There has been much discussion around town about the state of the current real estate market in Winchester. Although the press is reporting "doom and gloom" in the Massachusetts market, this is not the case in Winchester. Over the last year (Sept 13, 06 to Sept 13, 07) there has been a 30% increase in the number of properties sold in Winchester. The average days on market has decreased slightly by almost a week. Sellers are continuing to receive on average 96% of their asking price, although they are pricing their properties more realistically. Both the average sales price and the average list price have decreased by approximately 10% during this time period versus the same time period a year ago.
 
What this tells us is that the real estate market in Winchester is still strong. People are not getting the prices for their homes that they did a year ago, but more people are buying homes. Sellers are putting their homes on the market at more realistic prices and selling them in a shorter period of time. Sellers are becoming more realistic about what their homes are worth and also know that on the other end, they can buy their next home at a more realistic price.

There are currently 101 SF properties on the market with an average of 156 days on market. There are 7 SF homes currently for sale from $200-500 thousand, 23 homes from $500-700K, 37 homes from $800-$1M, from $1-1.5M there are 16 homes for sale, 10 from 1.5-2M and 8 homes for sale over $2M.   We see an average list price of $878,936 here in town. 

There has been on average a 3 % decrease in list prices for homes as sellers are starting torealize that pricing is critical to get their home sold. Over the past 30 days we have seen 12 homes go under agreement with 5 homes from $500k-600K, 3 from $600k-999K and 4 over $1M dollars. In the past 30 days we have 27 properties SOLD with the greatest number of sales from $5-800K. Weather you are a buyer or seller this is a good time to be in the market.

Please call us at 781-625-4249 should you need additional information or if you require assistance with buying or selling a home in or around Winchester MA.