As I’ve mentioned before in my blog, Winchester doesn’t have many multi family homes, so if you’re not familiar with the area, don’t be surprised that so few of them sell.

Single Family Homes – 132 Days
Condos – 147 Days
Multi Family Homes – 134 Days

Let’s compare these figures to what was happening in the city in early December. This will help us compare the fall market (reflected in the December figures) versus the winter market which is what’s showing in today’s latest stats.

The biggest changes we see is the average sales prices of properties in Winchester. The average price of a single family house in Winchester has dropped over $61,000 while the average sales price of a condo in the city has risen by over $69,000.

Also the absorption rates (the amount of months it would take for the amount of demand in the market to buy up all of the existing properties in no more were to come available for sale) are much longer, but this is normally just a reflection of the time of year. Between the holidays and bad weather, we normally see housing inventory taking longer to sell in the winter.

It is now officially spring, so stay tuned to my next blog post about Winchester where we’ll start to see the effects of the spring market.

Winchester’s housing inventory is primarily made up of single family homes. As you can see from the chart above, both the single family homes and condos in the city are still selling in an average time frame and the real estate market for these properties is pretty much at equalibrium. Winchester doesn’t have many multi family homes (at least those that haven’t been converted into condos during the past few years). Unlike most of the surrounding communities where multi family homes sell for more than single family homes, the reverse is true in Winchester and the numbers are showing us that it’s still a buyers’ market for multi family homes in 01890.