Wednesday, April 03, 2013

Sudbury Housing Market Update - Prices Rise as Inventory Shrinks

Sudbury Real Estate - Local Housing Market Update



Click here for the latest report from the Greater Boston Association of Realtors. including data for condominiums in Sudbury.
 
Single-Family Homes: Both the number of single-family homes sold and the median sale price during February were higher in Sudbury than in previous years. Year to date (as of 2/28) there have been 25 closed sales for single-family homes in Sudbury - a 47.1% increase over the same period last year.
Current 4/2/13 - The number of homes for sale has dropped by 40% since last year - there are 84 single-family homes for sale and of those, 18 already have accepted offers. Last year on 4/2 there

were 141 for sale. Current list prices range from $269,900 to $3,495,000.The median list price is $889,000 compared with $769,000 last year.


Overall, there is a 4 month supply of single-family homes for sale compared with 8 months last year. Supply varies by price. Luxury property buyers still have many excellent options in Sudbury. There are currently 23 estate homes for sale between $1,000,000 and $1,499,999 and only 2 have - this is an almost 9 month supply. There are 8 listings between 1.5 million and $999,999.
Condominiums (townhouse and garden apartment style) - Contrary to the single-family market, the supply of condominiums has increased by 100% - there are 32 for sale compared with 16 last year, however, of the 32, 14 already have accepted offers. The increase is mostly due to the new construction townhouses at Landham Crossing, Mahoney Farms, and Grouse Hill. There are also 3 resale townhouses at Springhouse Pond, 2 of which have accepted offers and are being shown for backup. List prices for condos in Sudbury range from $230,000 for an apartment-style at Northwoods, to $825,000. The median price is $687,450.

While condo living is easier and really tempting after all the snow this winter, it is different than owning your own single-family home. There are many things to consider. If you are considering a condo, including new construction, know that you are entitled to have your own buyer agent /broker represent you. If you want someone on your side, and who wouldn't, contact me before you visit the site; visiting the site first could cost you.
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Get the latest market reports for Wayland, Sudbury, Maynard, Stow and Acton MA at www.marilynmessenger.com or call 508-596-3501 if you are looking for a knowledgeable, experienced, educated and caring real estate broker and buyer agent to help you buy or sell a home.
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