Winchester Home, Condo Sales See Price Increase in May

for Winchester in the month of May showed some encouraging signs, even though sales are down.

According to data from the Warren Group, Winchester’s condo sales dropped by about half in May. Through the end of that month, a total of six condos sold, compared to 11 last year.

While the number of condos sold has declined, their price has increased.

The six condos that sold in Winchester this May fetched a median price of $579,500, nearly 70 percent more than the median price of condos sold in Winchester last May ($350,000).

The data for May single-family house sales in Winchester has also seen an increase in price. Sixteen Winchester homes sold in May 2011, down from 26 in May 2010. A total of 54 Winchester homes had sold through the end of May this year, compared to 76 that sold through the end of May 2010.

But similarly to the condos, prices of those single-family home have risen.  The median price of homes sold in May rose from $628,500 to $763,000 year over year, though the year-to-date increase has been smaller. The median price of all single-family homes sold in Winchester this year increased to $753,000 compared to $700,463 through the same date last year.

The Warren Group reported that the median price of Massachusetts homes sold in May increased, while the number of homes sold dipped by more than 25 percent.

“It’s been a tough start to the year as we’ve been comparing sales volume against the height of the homebuyer tax credit. However, lending standards have also become more stringent which is slowing the recovery in the real estate market,” said Timothy M. Warren Jr., CEO of the Warren Group. “I expect that in the second half of the year comparisons with 2010 will turn positive.”