Sudbury Real Estate Market Update - Happy Buyers & Sellers in May!

Lots of happy home buyers in Sudbury this month! Whether it was low interest rates, lower prices, pent-up demand from lack of inventory, or people realizing that there may never be a better time to buy, people who want to live in Sudbury stepped up and decided to make offers that sellers were willing to accept. After a challenging winter, homeowners who wanted to sell were finally able to put their houses on the market and inventory levels are close to what they were last year at this time; of the 151 homes currently listed for sale, 40 came on the market during May. Thirty-one of the 151 properties have accepted offers and are being shown for back-up waiting for contingencies to clear. There are also 22 sales pending.


List prices for active/unsold listings range from $174,900 to $2,795,000. The median list price is 799,450 and the average is $915,477. The median list price at this time last year was $869,000 and the average was $1,013,727. There have been 34 price adjustments on 31 properties so far in May.

So far, there have been 12 closed sales in May and 2 more are anticipated to close by month's end bringing the total number of closed sales to 14 compared to eight last May. The median sale price for the 12 that have closed in May is 645,000; the average is $716,433; will see how much that last 2 sales affect these prices. There were 8 closed sales during May of 2010; the median sale price was$695,500; the average was $798,500.