Keep in mind that it takes approximately 30 to 60 days to close a sale. The buying decisions for properties that closed in July were made in April and May at the peak of the Spring market. Summer is a different market.
Year-to-date (through 7/31): Prices for the first seven months of 2013 are up over the same period last year in Sudbury. The median price of $686,000 is up 6.8%% from last year. There were 146 homes sold; only one less than last year. The average time on the market for Y-T-D 2013 is 103 days; 30.3% less than in 2012.
Current: there are 15 units for sale in Sudbury compared with 14 last year at this time. Prices range from $219,900 to $849,000; the median price is $719,900, up from $647,450. The majority of townhouses for sale in Sudbury are new construction. Tip for buyers: you are entitled to have your own buyer agent/broker represent you when you buy new construction, you do not have to go directly to the builder’s agent. In order to have a agent working on your behalf, you must have your agent accompany you to your first visit to the site even if it’s just drive through to look around. Call 508-596-3501 to find out more.
For people who own a home and are not planning to move anytime soon, higher sale prices mean more equity in your property. Maybe you've been trying to refinance or take out an equity line to do some updates but your house wouldn't appraise. Mortgage interest rates are still historically low and this may be your window of opportunity. This is also a good time to consider a vacation home or income property. Prices are going up everywhere so why wait?
About the author: Marilyn Messenger has been representing home buyers and sellers in Sudbury and the towns west of Boston for 20 years. She combines personal attention with mobile technology, marketing and project management systems to maximize efficiency and minimize stress for her buyer and seller clients.
Messenger is a licensed real broker, Certified Residential Specialist (less that 4% or Realtors have achieved the CRS designation), and an Accredited Buyer Representative. She is also a member of the Institute for Luxury Homes Marketing and has served on several professional boards and committees.