Happy New Year and welcome to the Sudbury MA real estate market conditions report 2011.
Overall there are 89 single family homes for sale in Sudbury; last year at this time there were 84.Â A breakdown by price range shows that inventory has increased in some and decreased in others. The price range with the largest increase of homes available is $500,000 to $599,999 - there are 9 compared with a year ago.
The range with the highest number homes for sale continues to be the $1 million to $1,500,000 - there are 14 luxury homes in this price range; last year there were 23; however, the $900,000 to $999,999 has increased to 10 from 6 last year. This is due to downward price adjustments for home that were not positioned competitively for the market.
Recent activity shows there are 5 properties with accepted offers that are still considered "active" listings and are being shown for backup offers until contingencies are met. There are 9 with sales pending.
Â Current list prices for single family homes range from $174,000 to $4,500,000; the median price is $895,000; last year at this time it was $936,999.50. The average list price is $1,046,698 compared with $1,111,608. The average time on the market is 231 days down from 262 days last year. As with inventory, time on the market varies by price range.
The number of closed sales, as well as median and average sale prices of single family homes in Sudbury were all higher in 2010 than in 2009. There were 164 homes sold in 2010; the median sale price was $633,750; the average was $706,406.Â There were 148 homes sold in 2009; the median sale price was $586,000; the average sale price was $650,226. Â Sales of luxury properties of over one million were up substantially from 2009; there were 26 compared with 10 in 2009.
Closed sales were also up during the month of December 2010, there were 14 closed sales compared with only 7 the previous month. The median sale price was $707,500; the average was $658,429.
Looking for easy living? There are currently 23 luxury townhouses with prices ranging from $494,900 to $745,000 for sale in Sudbury. Most are new construction and age restricted/adult only developments however there is some new construction that are not age restricted. The number of condominiums/townhouses sold in 2010 was up substantially over 2009; 33 compared with 22. The median sale price was $535,000; the average sale price was $517,310.
Â Interest rates are still the lowest in decades, so it's a great time for buyers and sellers to make a move. 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.
Â To get market information for any other town or to ask a question e-mail email@example.com. Facebook users, you can now search for homes without leaving FB; just visit and "like" www.facebook.com/livingwestofBoston.
Data source: MLSPIN (Multiple Listing Service Property Information Network)