Sven Andersen RE/MAX Leading Edge- The Andersen Team Direct Phone & Fax 781-625-4249 748 Main Street WinchesterMA01890
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Presented by: Sven Andersen
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Winchester Real Estate June '08 Update 
Active Listings: There are a total of 93 properties actively on the market with the average price of $1,060,923 in Winchester.
Sold/Sale Pending: There are currently 40 properties with sales pending and 89 properties that closed over the last 6 months. The average sold price for Winchester was $948,655 and average days on market was 129 days. The average list price to sold price ratio was 89%, meaning these sellers received on average 89% of what they were asking for their property.
Absorption Rate/Supply: The definition of absorption rate is the number of weeks it takes to sell the current inventory at the present rate of sales. Absorption rates tell us how many months of supply is on the market based on historical data. For our purposes, we are tracking data over the last 6 months. The current supply of homes on the market at this time is 4.3 months. What this means is that if your home is priced accurately based on area/condition/comparative data, you can expect that your home may sell within 4.3 months.
Data based on the last 6 months ending on May 31st, Data provided by the Multiple Listing Services
National Market Update
The National Association of REALTORS® (NAR) report sales gains in several areas across the country compared to the same time a year ago, and are predicting greater demand in the months ahead. Although national sales for pre-existing homes declined 1 percent in April, a recent change in mortgage practices makes it easier for buyers to obtain conventional financing.
According to NAR President Richard Gaylord, Freddie Mac and Fannie Mae will enable buyers to acquire affordable financing, "with down payments of only 5 percent on most mortgages, with 100 percent financing available on some loan products." Gaylord predicts an upturn in sales this summer.
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Average (Mean) Sales Price of Existing Homes by Region
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Date
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U.S.
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Northeast
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Midwest
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South
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West
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2006
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268,200
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299,700
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205,300
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230,000
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371,300
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2007
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266,000
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307,100
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200,500
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225,600
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365,900
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01/08
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245,500
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298,400
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178,800
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206,500
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335,600
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02/08
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242,000
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292,700
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175,100
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204,600
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333,100
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03/08
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247,100
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310,800
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183,200
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209,600
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325,200
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04/08
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248,300
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295,000
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190,300
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214,400
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327,000
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Statistics from the National Association of REALTORS®
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NAR economists believe the changes will heat up the market as buyers have greater financing options available. Lawrence Yun, chief NAR economist, offered even more good news to those in higher priced markets, saying, "a recent notable drop in interest rates on conforming jumbo loans will help consumers in high-cost markets like California and New York."
Freddie Mac reported the national average 30-year, conventional, fixed-rate mortgage dropped to 5.92 percent in April compared to 5.97 percent in March; the rate was 6.18 percent in April 2007. Nationally, total housing inventory at the end of April rose 10.5 percent to 4.55 million existing homes available for sale.
Maximize Curb Appeal!
In a competitive market, sellers should pay attention to details that matter most to buyers. Enhancing your home's curb appeal does a lot to get them in the door.
As people drive from home to home, it's important to make them feel welcome. Trim hedges, mow your lawn, and plant flowers to add color. Walkways should be clear of debris and trees should be pruned to make sure your home shows nicely from the street. Remove parked cars, boats, and RV's from the property.
Remember, you only get one chance to make a first impression!
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RE/MAX Leading Edge- The Andersen Team, 748 Main Street, Winchester, MA, 01890
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