Business & Tech
May Home Sales, Prices Up in Winchester Compared to 2012
Winchester and Massachusetts home sales increased in May compared to the same time last year.
[Editor's Note: Information from a Warren Group press statement was used in this report.]
This article was posted by Mark Ouellette. It was reported and written by Mark Ouellette.
Home sales in Winchester increased in May compared to 2012, and overall home sales are also ahead of last year's pace.
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There were 21 homes sold in Winchester in May 2012, while 27 were sold in May this year. That represents a nearly 29 percent increase, according to data compiled by The Warren Group.
However, Winchester condominium sales were stagnant, with nine condos sold in May this year compared to nine sold in May 2012. Year-to-date condo sales are also largely unchanged, with 30 condos sold in 2012 compared to 31 this year.
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Total home sales in 2013 are higher than in 2012. In Winchester 76 homes have been sold this year, compared to 59 during the same period of 2012.
While home sales may be up, so too are home sale prices in Winchester. The median sales price this May was $779,900, up more than 11 percent from the 2012 average of $700,000. Year-to-date home prices are also up more than 11 percent over last year.
Home sales across Massachusetts have increased 8.5 percent, with 4,775 single-family homes sold this May. This is a change in the trend in state.
“We knew the buyers were out there in the late winter/early spring and now we’re seeing the results of that activity,” said 2013 Massachusetts Association of Realtors President Kimberly Allard-Moccia, a broker in Braintree, in a Warren Group press statement. “With each month of sales and price increases, we should begin to see the number of homes for sale start to increase, which is good for the market.”
Home sales should continue to increase as Massachusetts enters the prime selling season, said Timothy M. Warren Jr., CEO of The Warren Group which publishes Banker & Tradesman, in the statement. Real estate prices have also increased.
"The rise in prices has been a result of tight inventory," Warren said in the statement. "It's concerning to see prices rise at this rapid rate. Pent-up demand for homes from buyers who postponed their purchase plans is driving up prices. Consumers are rushing to buy before prices and interest rates get too high."
Here is additional statewide data provided by The Warren Group:
- In May, 4,820 single-family homes were sold in Massachusetts, up from 4,540 during the same month last year.
- May is the first month since January that sales volume went up year-over-year. However, year-to-date sales have decreased slightly.
- A total of 16,068 homes have been sold this year, down from 16,098 sold during the same period in 2012.
- The median price for single-family homes sold in May increased nearly 12 percent to $324,500 from $290,000 in 2012.
- Year-to-date, the median sale price of a single-family home in Massachusetts is $300,000, which represents an 11 percent increase from the $270,000 median home price during the same period last year.
Winchester 2012 2013 Change
May sales 21 27 28.57 percent
Year to date sales 59 76 28.81 percent
May median sale price $700,000 $779,900 11.41 percent
YTD median sale price $730,000 $816,250 11.82 percent
Massachusetts 2012 2013 Change
May sales 4,540 4,820 6.17 percent
Year to date sales 16,098 16,068 -0.19 percent
May median sale price $290,000 $324,500 11.90 percent
YTD median sale price $270,000 $300,000 11.11 percent
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