Friday, June 15, 2012

Sudbury MA - Home Sales and Prices Continue Upward!

Currently there are 161 single family homes for sale in Sudbury; last year at this time there were 157. Forty of the 161 active listings already have accepted offers and are being shown only for backup offers until contingencies have been fulfilled.
List prices in Sudbury range from $154,900 to $2,795,000. The good news for buyers, and for sellers who plan to either move up or down-size in Sudbury, is that median and average list prices are lower than last year at this time. The median is $729,900; the average is $859,179. The median last year at this time was $795,000; the average was $905,375.
Homes that are priced correctly are selling quickly however, there were also 37 price reductions on 33 properties during the past 3 months; the average change was -5.37%. This is important for homeowners who plan to sell to keep in mind when deciding on the list price.
Sales Pending: There were 33 single family properties that went pending in May, up from 25 in May 2011 and also up from 20 this past April. These pending sales will close in the next month or two and sale prices will be known upon closing.

Closed Sales May: There were 23 closed single family home sales in May, up from 14 in May 2011. The median sale price was up - $723,000 compared with $627,500 in May 2011. The average sale price was also up - $728,622; the average in May 2011 was $627,500.
Year-to-date Sales (1/1/2012 - 5/31/2012): Year to date sales and prices continue to increase over last year. There have been 74 closed sales in 2012, up from 48 for the same period in 2011. And sale prices are also up. The median sale price in Sudbury through 5/31 was $673,200; up from $568,500 for the same period in 2011.

Condominiums/Townhouses: – Closed sales of condos in Sudbury were also up in May and year-to-date over last year for the same period. There were 4 in May, up from 2 in May 2011, however, median sale prices were lower - $553,750 compared with $597,500 in May 2011. 

If you want to live in Sudbury, be prepared to step up when you find a house that fits your needs. Get pre-approved for a mortgage before you visit any houses so you know exactly what you can afford. Decide what the trade-offs are (location, size, and condition) and connect with an experienced buyer broker/agent who can navigate you through this busy market!

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