Welcome to the Sudbury MA real estate market conditions report for December 2010.
Overall there are 94 single family homes for sale in Sudbury; exactly the same number as last year at this time, however, 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 10 compared with 3 year ago.
The range with the highest number homes for sale continues to be the $1 million to $1,500,000 - there are 16 luxury homes in this price range; last year there were 24; however, the $900,000 to $999,999 has increased to 11 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 3 properties with accepted offers that are still considered "active" listings and are being shown for backup offers until contingencies are met. There are 17 with sales pending; up from 12 last month.
Current list prices for single family homes range from $174,000 to $4,500,000; the median price is $912,000; last year at this time it was $957,449.50. The average list price is $1,067,929 compared with $1,152,940. The average time on the market is 217 days down from 247 days last year. As with inventory, time on the market varies by price range.
There were 7 closed sales during November 2010 compared with 13 during November 2009. The median sale price was lower - $480,000 vs. $513,000. The average sale price was higher - $590,624 vs. $582,365.
Year to date, as of December 15, there have been 176 single family homes sold in Sudbury; up from 160 for the same period in 2009. Additionally, 11 of the sales pending are anticipated to close by year end, bringing the total number of homes sold in Sudbury for 2010 to 187. There were 165 in 2008; and 220 in 2007 at the peak of the market.
As of 12/15/10, median and average sale prices in were also higher for the year. The 2010 median was $633,750; the average was $698,779.
Looking for easy living? There are currently 21 luxury townhouses 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.
Interest rates are still the lowest in decades, so it's a great time for buyers and sellers to make a move. Visit http://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.
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