Find a Home - MLS listings with addresses and maps
Welcome to the market conditions report for Sudbury MA (01776). Here's what's going on: there are current 127 active single-family home listings and of those 22 already have accepted offers waiting for contingencies to clear, so really there are only 105 that are fully available. Average time on the market for current listings is 160 days - last year at this time it was 142. There are also 30 single-family homes with sales pending.
Overall, the number of homes for sale has decreased substantially - 127 compared with 169 last year at this time. An analysis by price-range shows that the largest decreases are in the following ranges: $500,000 to $599,999 - 17 compared 38 last year; $600 to $699,900 - 9 compared to 17; and $400K to $499,900 - only 7 vs. 13 one year ago. Buyers in those ranges may think about making their move.
The price range with the largest increase is $2,500,000 to $2,499,000 - there are 8 on the market compared with just 2 last year. People in that range who may have ruled out Sudbury because of the lack of inventory, may want to re-consider with inventory on the rise.
List prices in Sudbury range from $225,000 to $2,990,000. The median list price for a single-family home in Sudbury is $839,000 up from $649,000 on 7/16/07 and the average is $1,027,795 up from $820,374 last year at this time. The median list price for the 37 homes with sales pending is $675,000 and the average is $760,035 - final sale prices for these homes will be available as they close in the next month or two.
While year-to-date the number of and the price homes sold was down from last year, June 2008 activity showed some improvement - there 31 sold up from 24 last year. And both the number of sales and the median and average sale price was up substantially from the previous month of May. There were 31 closed sales in June compared with only 8 in May; the median sale prices was $685,000 vs. $587,500; the average sale price was $736,631 compared with $589,938 in May.
Albeit recent sales data are interesting, those houses aren't available anymore and buyers and sellers need to understand what's going on now. Based on the number of homes with accepted offers and also the number of sales pending it appears that people who want to be home owners in Sudbury understand that with supply on the decrease and interest rates on the rise, this is a good time to make their purchasing decisions.
Sellers also have a better understanding of market dynamics and those who are positioning their properties to be attractive in this market are having success. During the past 3 months there have been 90 price adjustments on 70 properties. The average adjustment was -4.54%. Just as all real estate is local, pricing is based on the location, condition, and size of each individual home and every property does not appreciate at exactly the same rate. That is why listing with an experienced broker/agent who has been in the homes in an area is more important than ever.
To find out what homes are available and for daily listing updates in Sudbury and the towns west of Boston, visit www.MarilynMessenger.com or call Marilyn Messenger at 508-596-3501 for personal real estate services.
Data source: MLSPIN (Multiple Listing Service Property Information Network.)
Comments(0)