Winchester, MA Home Sales Down, Prices Up First Half of 2014

Single-family home sales in Winchester, Massachusetts dipped during the first half of 2014 while the median price of a single-family home increased, according to data compiled by the Massachusetts Association of Realtors. 

The median price of a single-family home in Winchester, MA increased 6.7 percent through June compared to the first six months of 2013. The median price stood at $910,500, up from $853,000. Prices also increased 6.7 percent in June to $905,000 compared to $848,000 in June 2013. In June, single-family properties sold for 99.8 percent of the original list price. 

Single-family home sales declined from 87 during the first half of 2013 to 86 during the same period this year, a 1.1 percent decline. Single-family sales dropped 27.3 percent in June, from 33 in June 2013 to 24 homes sold in June 2014. Pending home sales in June increased 12.5 percent to 27 pending sales compared to 24 the previous June. 

Single-family inventory declined from 43 homes on the real estate market in June 2013 to 37 homes for sale in June 2014, a 14 percent decline. The months supply of inventory decreased to 2.0 months, a 21.5 percent decline from 2.6 months in June 2013. On a positive note for buyers, new single-family listings increased 26.9 percent to 33 new properties compared to 26 new listings in June 2013. The average number of days on the market declined 26.5 percent in June.

During the first six months of the year, the median price of a condominium in Winchester stood at $443,500, a 13.7 percent increase from $390,000 after the first six months of 2013. There were just 32 condos sold compared to 43 units sold January through June 2013. The median condo price jumped 23.2 percent in June to $483,750 compared to $392,500 in June 2013; however, there were only six condominiums sold in June, a decline of 62.5 percent compared to the 16 units that changed owners in June 2013.

Condominium inventory remained the same in June, with 16 units on the market this year and June 2013, but new condos for sale declined 46.7 percent. There were 15 new units listed in June 2013 compared to eight units in June 2014. The months supply of inventory increased 15.5 percent in June to 2.7 months.  

The limited number of condominiums for sale certainly led to bidding wars in June. Home buyers paid, on average, 101.7 percent of the original list price for Winchester condos. Through the first six months of the year, condos sold for 98.8 percent of the original list price.

The average number of days that condos remained on the market declined 37.2 percent in June.