Welcome to the Market Conditions report for Sudbury MA. The number of single-family homes available in Sudbury is almost exactly the same as it was on this day last year - 136 vs. 137 and even though the median and the average list price are down - current median: $749,900 vs. $759,000 on 4/11/06; the current average is $898,354 vs. $955,909 last year, it's taking longer to sell - the current average days on market is 173 up from 125 one year ago.

The two price ranges with the most inventory are $500,000 to $599,999 with 25 to choose from; and in the 1 million to 1.4 million range there are 23 homes available.

As market time has increased, prices are adjusting although not significantly. During the past three months 66 homes have had 88 price adjustments. The average price adjustment was -3.92%.

Some good news for sellers: of the 136 homes listed 17 have accepted offers waiting for contingencies to clear, and there are 22 sales pending. The average time on the market for sales pending is 173 days.

Additionally, the number of closed sales during the last three months is up substantially from the same period last year - 41 vs. only 24 in 2006. And both median and average sale prices were up - 2007 median: $685,000 vs. $620,000 in 2006; the average sale price was $776,536 vs. $719,762 however it took longer for these homes to sell - 234 days vs. 140 days.

So, it was worth waiting right? Well, maybe...whether sellers really made more money depends on their individual circumstances. Sellers who already moved to their new homes carried the cost of owning two homes for an additional three-plus months. Those who had to sell before they could buy may have missed out opportunities to buy at a lower price because they were waiting to sell for more...there are always trade-offs.

While the supply is leveling off demand appears to be increasing - agents in the area are getting busy again! Listings are getting more showings, there have been a few sales within days and even some instances of multiple offers in Sudbury and some of the nearby towns. Buyers who wait much longer may end up missing out!

To find out what homes are available in Sudbury and the towns west of Boston, visit www.marilynmessenger.com your on-line source for real estate listings, news and information or call Marilyn Messenger at 508-596-3501 for personal real estate services.

Data source: MLSPIN (Multiple Listing Service Property Information Network.)

Marilyn Messenger, a broker associated with William Raveis Real Estate in Sudbury MA, has been providing buyer and seller representation since 1993. Contact Marilyn at 508-596-3501 to start planning your next move.