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Market Stats - A Busy Summer Sets Up an Active Fall Market

 

its been a busy summer in Real Estate, setting us up for a very active fall market. Continuing the wave from July, business did not let up in August.  No summer break for our realtors - the number of new listings surpassed July’s number in Winchester, Arlington, Melrose and Medford, and accepted offers during the month also remained the same or increased.  Homes are turning over quickly, and as a result there were fewer listings on the market by the end of the month than at the end of July.  Prices also remained steady compared to the previous months.

 

So does this mean it’s a seller’s market? With inventory low and demand high well-priced homes in popular towns and cities like ours are moving extremely quickly.  Plus with historically low interest rates we are seeing highly motivated buyers, from those looking to get out of renting and into homeownership, to those wanting to upsize and gain some more space for home working and schooling.  If you have been thinking about making a move, talk to one of our experienced agents. They can give you a complimentary market analysis to establish the true value of your home, and advise you on the next steps to getting you into a new place this fall.  Get in touch today.

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    Coming Soon - Winchester Home With Plenty of Space for Today's Living

    If you are looking for a home with space for work, school and play, Katie Tully may have the one for you!  12 Wolcott Road in Winchester is a gracious 1930s colonial that has been thoughtfully updated throughout. The first floor features an office & second potential workspace, essential for today's living, along with sunny living room, formal dining room, and spacious eat-in kitchen with island, wet bar and direct access to the deck.  

     

    The second floor was recently reconfigured to add a large master closet & expanded master bath to the two additional bedrooms & the updated family bath. The third level includes a fourth bedroom & great bonus space. If all this is not enough, the finished family room in the lower level provides more finished space for a playroom, gym or media area.  Relax outside on the deck or patio, or access the Fells for a hike by the path across the street. Don’t miss this turn-key home close to Winchester center.

     

    12 Wolcott Road Winchester will be available for showings from September 9th.  Contact Katie Tully to arrange your private viewing.

     

     

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      Homes With Private Docks That Will Really Float Your Boat

      Whether it's ocean or lake, time spent on the water is time well spent!  Sotheby's International Realty has put together this stunning collection of homes that truly personify this old adage, with private docks that make the most of their enviable locations.  From the Atlantic coast to Californian lakeshores, indulge your nautical side with a browse through these beautiful homes.

      And if that gives you a taste for waterfront living, you can search for waterfront homes or lakeside homes near you - contact one of our experienced agents to help with your house hunt!

       

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        Welcome to the Club | Golf Course Homes Near and Far

        Golf fans take note!  We've brought together some of the most prestigious golf course homes from all over the country, with breathtaking views across the fairways and greens.  But you don't need to travel far to experience the luxury of golf course living - 43 Arlington Street in Winchester overlooks the third green at Winchester Country Club - perfect for the avid golfer!  

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          5 Homes Inspired by Your Favorite Glass of Summer Wine

          Now this is a design trend we can get behind!  Sotheby's International Realty has collated a selection of homes from across the globe that take their design inspiration from your favorite glass of summer wine.  

          Looking for some vineyard inspiration closer to home? We suggest sipping a glass of cool Pinot Grigio on the patio of 2 Mill Street, Woburn, or sharing a Cabernet Sauvignon by the fire at 73 Sullivan St in Charlestown.  Cheers!

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            Good Sport | 6 Homes with Impressive Athletic Facilities

            Anyone for tennis?  Or basketball, horseback riding, or climbing? These stunning homes from our colleagues at Sotheby's International Realty have the most amazing sports and athletic facilities - check out the NBA-inspired basketball court!  If sports is your thing, we have homes that can get you access to the best facilities - like 76 North Border Road, Winchester with it's direct access to the Fells for walking or biking, and 8 Cleek Court, North Reading situated on the golf course.  Talk to one of our experienced agents to find the perfect home for your sporting ambitions!

             

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              5 Simple Improvements to Get Your Home Ready for Sale

              Maybe you started out 2020 with a thought of upgrading your home or downsizing to suit your lifestyle, but then events got in the way.  Now you are seeing reports that the housing market is very active and your moving plans have come back to the forefront - especially if your circumstances have changed and you have different needs (home office anyone??).  But how do you make sure your home is primed and ready for sale, without spending time and money on unnecessary updates that won’t get you a return on your investment?  We asked our agents to give us the top 5 things they would recommend to sellers that will have the greatest impact for potential buyers.

              1. Curb Appeal

              Pictured - 3-5 Ridge Street, Winchester

              You don’t get a second chance to make a first impression, so make sure the front of your home gives potential buyers a good feeling from the off.  “Having your windows washed is one of the easiest things you can do to improve your curb appeal” says Erica Carson.  In addition, address any peeling paint on your front door, repair window and door screens, and wash or sweep your front steps.  If you have flower beds or window boxes, make sure they are free of weeds and dead blooms, and cover with a fresh layer of mulch.  Mow the lawn if you have one. 

              2. Declutter

              Pictured - 164 1st Street, Melrose

              “Paring down a seller’s personal belongings to highlight the space and features of a property is an inexpensive way to show the property in its best light. And helps prep for the seller’s move!” says Katie Tully.  As well as the obvious clearing away of general clutter, take a long hard look at your bookshelves, closets, bathroom cabinets, and toy storage.  Purchase some plastic storage crates and put away anything you don’t need for a few weeks while your home is being shown.  Also, consider removing or paring down any personal photos or pictures on your walls - again, buyers want to be able to picture themselves in the home, and a lot of personal items can make that hard for them.

              3. Paint

              Pictured - 40 Englewood Road, Winchester

              Neutral wall colors make it easier for buyers to picture themselves and their belongings in a home.  Consider repainting any bold or dark colors with a popular neutral (greys and creams work well) to brighten up a space and depersonalize it.  “Painting over dark colored walls or wood paneling with a light color can really refresh a room” advises Anne Spry.   If you already have a neutral palette, take a good look around your home and look for chipped or dirty paintwork that needs to be touched up.  This is the sort of detail that you may not notice but a buyer surely will.

              4. Flooring

              Pictured - 73 Sullivan Street, Boston

              If you have carpet in your home that has seen better days, check if there is hardwood underneath.  Exposed hardwood is popular with buyers as it gives a neutral look and is easier to clean.   If you don’t, it is money well spent to replace old or worn carpet with a new, neutral colored version.  The same goes for tile - make sure you clean the grout to give a fresh look, and replace any cracked tiles, or use a rug to bring a contemporary look to an older style of flooring.  “New flooring is important, especially in a kitchen - having your wood floors refinished or replacing old tile is a worthwhile investment”  advises Naomi DeLairre.

              5. Stairs

               Pictured - 145 Main Street, Westford

              Here’s a pro-tip from Lesley Smith that can make a quick impact with buyers - paint your stair treads!  An often overlooked feature, stairs are an area that can make a good or bad first impression - often they are the first thing you see as you walk into a home.  If your treads are worn or dirty, having them repainted, varnished or installing a runner can make a huge difference to the overall look of a home, says Lesley.

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                Market Update - July Listing Activity

                As you already know from our previous blog, our office enjoyed a very active and successful July, but now we turn our attention to what is happening in the market in general.  Overall we are seeing a slight slowdown in real estate activity compared to a very busy June in most towns and cities around us.  With the exception of Melrose and Stoneham, we have seen fewer new listings and the number of homes going under agreement is down across the board.  

                  
                 

                  

                However, if we compare the numbers to last July, we can see a dramatic uptick in activity across all areas.  Stoneham and Reading have seen double the number of new listings compared to July 2019, showing just how different this summer has been.  Winchester, Arlington and Medford also recorded an increase in homes listed and offers accepted.  

                Some good news for buyers too - there were more active listings at the end of July than the previous month.  A reflection, perhaps, of the increased confidence and activity in the housing market.

                  

                 

                  

                Want to know more about how these stats affect your moving plans?  Get in touch with one of our experienced agents.  They can give you more detailed information about the market related to your own unique circumstances.  And check out our latest listings - your dream home could be already waiting for you!

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                  July - Our Busiest Month of the Year!

                  Yes, you read that correctly - July, traditionally the start of the quieter summer period, was our busiest month yet!  Our agents have been working flat out on behalf of buyers and sellers, listing and selling property not just in our usual areas of Winchester, Arlington, Melrose and Medford, but as far afield as Marshfield and Manchester-by-the-Sea!  This month alone, we listed 16 homes, 9 of which already have accepted offers. This figure makes us #1 in Winchester for listings this month, far ahead of our closest competitors.  In total we put 19 homes under agreement in July - our best month this year so far, and certainly more than we would typically expect in July.  6 homes were sold this month, with an average sale price of $1,033,650.

                  If you are thinking of moving this year, now is the time to talk to one of our experienced agents.  They can answer any questions you have about the market, getting ready for sale, and what it takes to find the right home for you.  Buying or selling, they are ready and willing to help get you moving!  Register with us to be notified as soon as a new listing matching your needs goes live.  Also, take a peek at our latest listings - your perfect home could already be waiting for you!

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