Thursday, June 30, 2011

Sudbury MA - Bright Spot in the Housing Market west of Boston

Sudbury MA is one of the brighter spots in the housing market these days as sales and recent prices have increased over last year. Currently, there are 156 single family homes for sale. Of the 156, 38 (approx. 24%) already have accepted offers, however, there are still many excellent opportunities for home ownership, especially for buyers looking for luxury properties. There are also 21 properties with sales pending. 
Despite the increase in recent sale prices, list prices in for single family homes in Sudbury are lower than last year at this time and range from $175,000 to $2,795,000. The median list price is $796,750 and the average list price is $912,003. Last year at this time list prices ranged from $199,000 to $3,195,000; the median price was $872,450 and the average was $1,008,617. Average time on the market is 153 days; last year it 171 days. As with the number of homes for sale, time on market varies by price range.

Between May 1 and June 15 there were 23 closed sales compared with 18 for the same period in 2010. The median sale price was$630,000 and the average was $699,728; both higher than last year when the median was 588,500 and the average was $647,333. While every house did not appreciate by the same amount, most sellers were happy to sell; and buyers who may have paid more than they may have last year where happy to beat the competition (yes, there were some bidding wars!) and were able to enjoy super low interest rates – a winning situation for all who wanted to move on!

For anyone looking for easy living, there are some excellent condominium/townhouse opportunities in Sudbury. Inventory is up and there have been substantial price reductions for some of the new construction for active adults.

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