Monday, June 09, 2014

Sudbury Real Estate Market Update - Sale Prices Up in May!

Sudbury MA - Sale Pending
Overall, the Sudbury market is similar to many of the desirable suburbs that are commutable
distances from Boston, Cambridge, and Waltham.

There are fewer single-family homes for sale that last year at this time. The number of closed sales both in May and year-to-date through May 31 is also less than in 2013 for the same time periods. Median sale prices are for closed sales were higher higher, and the luxury properties market is thriving again as is the 55+ condominium market.

Lower supply meant to increased competition among buyers and it was not unusual to see houses have accepted offers within a day or two; many receiving multiple offers/bidding wars. I am starting to see some closed sales with sale prices above asking. Keep in mind, it generally takes about 60 days to close from the time of an offer; the buying decisions for these houses were made a couple of months ago at the peak of the Spring market.

As busy as the market has been, there were still very single-family home sellers who had to reduce their list prices because their houses were not selling.

Here is the link to more details on my Trulia blog. Contact me at 508-596-3501 to discuss how the market effects your decision to buy or sell a house in Sudbury. Search for homes or request a market valuation for your home at www.marilynmesenger.com.



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