Hot Times for Condos!

Everyone has heard by now that the real estate market is as hot as the weather this summer! The demand for condominiums, including townhouses, detached single-family, duplex, and high-rise and mid-rise apartment-styles is especially high. This is partly due to the lack of supply of single-family homes for sale but also because condominiums offer the easy life-style that is attractive to first-time buyers, down-sizers, and anyone who wants to enjoy the benefits of home-ownership without a lot of the work.

The Regency at Stow, still under construction, is sold out!

New communities that are being built for active adults/55+ are selling out faster than they can be completed. The Regency at Stow, a 66 unit development is sold out. Highcrest at Meadow Walk near the Whole Foods in Sudbury is also moving fast with 13 units already under contract. There have also been resales at Mohoney Farms and Dudley Brook in Sudbury; and at WestRidge in Hudson. 

SOLD at WestRidge - Single family condo - $595,000

As the supply of non-age restricted condominiums continues to remain low, prices are continuing to rise!

Year-to-date, the median sale price of $454,950 for all styles of condominiums in Middlesex County is up 7.05% over last year and the average price of $510,365.42 increased by 5.60%.

Good news for sellers but tough times for buyers who need to be prepared to step up and in many cases be willing to compete, especially for units that are completely updated and move-in ready. For buyers who are willing to do some updating on their own, competition is a bit less fierce.

If you are looking for easy living in a great location near Concord, Acton, and Sudbury, here is an excellent opportunity at Deer Hedge Run in Maynard that's listed for $290,000 with 3 finished levels plus a full basement, 2016 furnace and a/c, an eat-in kitchen, open-concept living/dining room, and parking directly in front of the unit. Click for details.

             

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Sudbury Home Sales and Price Up in Q3

Sudbury Market Report

Sudbury Real Estate - Local Housing Market Update October 2014

Current Inventory: There are 86 single-family houses for sale in Sudbury; up from 70 last year on 10/20.  Current list prices in Sudbury range from $299,000 to $2,499,900. The median list price is $749,500; last year at this time it was $941,450. The average price in Sudbury is $852,109; last year it was $1,057,317. Click here to see homes for sale in Sudbury.

More homes for sale along with lower prices and mortgage interest rates (which dropped last week) should make things a bit easier for home buyers including sellers who will buy another home after they sell.

Sudbury - Under Contract in 3 Days!

Pending Sales:  More sales went pending during September 2014 than during the previous September. The median list price for sales pending was $739,000. Actual sale prices for these houses will be available after closing in the next month or two.

September Closed Sales: There were fewer closed sales in Sudbury during September 2014 with lower median and average sale prices than during September 2013. MORE...

Price Adjustments: In any market houses that are not priced correctly will not sell. There were 42 price changes/reductions on 38 single-family properties in Sudbury during the past month ending on 10/20.

Third Quarter 2014:  Sales and prices were up over last year for the third quarter in Sudbury. There were 97 single-family homes sold. The median sale price was $739,000; the average sale price was $769,066 MORE..

Condominiums/Townhouses: There are 14 townhouse condominium units for sale in Sudbury. Prices range from $365,000 to $838,000; the median list price for a townhouse in Sudbury is $674,168. The majority of the condominium townhouses that are for sale in Sudbury are in active adult/over 55/senior age restricted communities including the new townhomes at Dudley Brook Preserve off of Tall Pines Drive, and Mahoney Farms at 30 Nobscot Road.

New Construction: Buyers are entitled (and you deserve) to have your own buyer agent represent you when you purchase new construction. However, your agent/broker MUST accompany you to the sales office the first time you visit. As tempting as it is to just pop in and look around, if you do that, you will have to buy from the agent at the office and as nice as that agent may be, remember they work for the builder and not you! Having your own agent on your side will help you get the best deal.

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May Real Estate Update- News & Information for Buyers, Sellers, Renters

Here is a link to my "May Real Estate Update":


http://realtytimes.com/138/MarilynGMessenger

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month's issue includes:
"Five Key Areas to Pay Attention to When Buying a Home";
"Green Your Home with Cost-Saving Remodeling Tax Credits";
"Common Buyer Fears";
"Top 10 Tips for Staging a Home";
"Seniors Looking to Downsize, Seek Opportunities to Socialize in Urban Living Areas,";

Plus a roundup of April real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!