Here's what's going on in the Sudbury MA real estate market. Overall single family inventory is up from last year at this time - 110 current listings compared with 100 last year. Prices for single family homes In Sudbury range from $189,000 to $3,298,000. The median list price is lower than last year at this time - $884,950 compared with $922,000; the average list price is also lower - $1,119,407 compared with $1,138,898; and the average number of days on the market is also higher - 210 days up from 187 days.
The price ranges with the most significant increase of homes for sale are: $800,000 to $899,999 - there are 11 compared with 3 a year ago; and $600,000 to $699,999 - there are 10 compared with 5 last year; so good opportunities for buyers in those ranges.
Recent activity shows there are 18 single-family homes with accepted offers and 13 with sales pending. There were 13 closed sales in October, only one less than in October 2008. Five of the homes sold in October were between $450,000 and $499,000 with an average time on the market of 63 days compared an average of 125 for all ranges Overall, both the median and average sale price was lower than in October 2008- the median was $467,000; average was $528,008.
With the tax credit extension and expansion, buyers who may have thought Sudbury prices were too high for them, may want to take another look. Three bedroom homes start at $289,000; four bedrooms start at $369,500; and five bedrooms start at $569,900 for a traditional Colonial style home. New construction in Sudbury starts are $819,900.
Anyone who wants to sell their home in Sudbury 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)
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