Welcome to the Sudbury MA real estate market update. Overall inventory is up from last year at this time - 138 current listings compared with 107 last year. Prices for single family homes In Sudbury range from $199,000 to $3,700,000. The median list price is higher than last year at this time - $839,450 compared with $785,000; the average list price is also a bit higher - $1,086,580 compared with $1,010,198; and the average number of days on the market is also higher - 187 days up from 145 days.

The price ranges with the most significant increase of homes for sale are: one million to $1,499,999 - there are 28 compared with 19 last year; and $800,000 to $899,999 - there are 13 compared with 4 a year ago; good opportunities for buyers in those ranges. For people looking in between $700 and $799,999 there are only 9 homes for sale compared with 15 last year - fewer choices generally lead to more competition and higher prices.

Recent activity shows there are 18 single-family homes with accepted offers and 13 with sales pending.

The number of closed sales for September was up from September 2008 and median and average sale prices were both lower; 15 sold vs. 11 in September 2008; the September 2009 median sale price was $665,000 vs. $897,000; the average was $669,900 down from $998,909; and it took longer for homes to sell - average time on the market for September 2009 was 173 days and 65 days in September 2008.

Given the increase in the number of homes on the market, anyone who wants to sell needs to think carefully about pricing their property correctly for the current market. Correct pricing is crucial; all the pretty pictures and videos in the world will not attract buyers if the home is not priced correctly. Lowering the price after the fact will only net less money and add even more frustration to the process.

Interest rates are low and there are lots of great choices for buyers! Visit www.MarilynMessenger.com for the latest local market condition reports for Sudbury, Wayland, Weston, Maynard and Stow MA, complete MLS home search, news and information to help you plan your next move. To get market information for any other town e-mail marilynmessenger@realtor.com.

Data Source: MLSPIN (Multiple Listing Service Property Information Network)