Real Estate Trends – Winthrop, Massachusetts

Introduction:

Welcome back again for our latest real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward

Today we are highlighting Winthrop, MA in Suffolk County

 Winthrop MA - Winthrop Massachusetts Real Estate

Market Trends in Winthrop, MA – May 2014 and 2015:

The Winthrop, MA market appears to be down slightly since last year.  Both the average listing and average sales prices were down a little bit.  The days on market have gone up a fair amount year over year as well.  Inventory was about the same going from 6 sales in May of 2014 to 7 in May 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Winthrop, MA the average listing price in May 2014 was $394,967.  This was down to $387,514 in May 2015.  That gives a very small 1.89% decrease year over year. 

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Winthrop, MA in May of 2014 was $380,167 and in May 2015 that was down to $377,629.  That gives an even smaller decrease of 0.67%, which is totally meaningless and shows prices are mostly flat.  Taking a quick look at the Median prices we do see that while the offset is pretty small they do differ a little and would have had a 2.6% decline, which is still very small but a little more of a signal than seen with the average prices. 

Average Days on Market:

The final metric we look at are the average days on market, which is the measure of how long it takes for a house to sell in the current market.  For Winthrop, MA the average days on market in May of 2014 were 51.83 and the average days on market for May 2015 were 67.71, for a fairly large 30.64% increase. 

Winthrop, Mass Summary:

The Winthrop, Massachusetts real estate market looks like is has flattened out and maybe declined some since last year.  The very small drops in listing prices and sale prices show things are mostly flat.  However, the fairly significant increase in days on market can be a leading indicator that things could start falling off more.  While there is no guarantee things would move downward if days on market increase it is a strong factor in sellers dropping the listing price which ultimately will lead to lower sale prices as well.    

In summary if you are looking to sell a house in Winthrop, MA now you should expect to get about the same as you would have last year.  However you should also expect it to take longer to sell compared to last year.

 

Do you need to sell your Winthrop, Massachusetts house fast?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Winthrop MA by Sean 2015 via Wikipedia)

 

 

 

 

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