Sudbury MA Real Estate Update - 2013 Sales & Prices Up!

2013 was a good year for selling a house in Sudbury MA. Both the median sale price and the number of single-family homes sold were higher than in 2012. Although the median price was still lower than in 2005 when the housing market peaked, there were more homes sold.

Even in the hottest market, correct pricing matters and there were lots of price reductions during 2013 and there were also a number of "expired listings", houses that did not sell during their listing contract period. There are generally three reasons why houses do not sell, and pricing is number one. Home buyers search by price and if a property is not priced correctly in will not be exposed to the right buyers.

Current inventory and list prices in Sudbury are lower than they were last year at this time. Only 44 single-family houses for sale; the lowest I've ever seen! And home buyers are out there. I visited six public open houses yesterday to preview listings (a buyer agent should actually see the houses!) and gage market activity. Buyers are definitely out there! Anyone thinking about selling, now is the time to put your house on the market for sale. Don't wait for everyone else. "The early bird catches the worm!"

                      Click on the slide show for details.

Contact me if you would like more information about the market, the buying or selling process, or to request a valuation report for your home in Sudbury, Wayland or any of the towns west of Boston. 

If you are thinking about buying a house, having your own buyer agent represent you is especially important when the market is so tight. As a buyer agent/broker, I will personally (in addition to automated systems) make sure you know about houses that come on the market right away and that you are prepared to move forward when you find home that's right for you.

-------------------------------------

www.marilynmessenger.com  - find a home; request a home valuation report; information to start planning your move. 

Luxury Homes Market Update

The Keeping Current Matters blog recently published a post titled “Luxury Market Surges” that includes an InfoGraphic (based on data from the National Association of Realtors and the Wall Street Journal) showing that the number of homes sold for $1 million-plus year-to-date has increased substantially over 2011. Varying by region, the overall increase for million dollar-plus homes nationally was 44.1 percent. For homes sold with a mortgage, the increase for $1 million+ homes was 28%; compared with 8.5% for homes sold for under $1M.

Luxury home sales in the Northeast increased 27.6 percent. Sales in the towns west of Boston certainly helped fuel the increase in the Northeast. Year-to-date, sales of luxury homes in Weston increased by 50 percent -- 87 up from 58; in Wayland there have been 23 sales this year up from 13 in 2011 – a 77 percent increase! Sales in Concord were up from 38 in 2011 to 55 in 2012, an increase of 45 percent. The number of estate home sales in Sudbury remained steady with 23 sold, one more than for the same period in 2011.

The median price for the luxury market in Weston, Wayland, Sudbury and Concord also increased. While there are still lots of excellent opportunities for move-up buyers and people who are moving to the area, the number for sale continues to decrease, so list prices have also increased from last year. Click here to see what homes are for sale. Request additional information or ask a question. 

About the author: Marilyn Messenger is licensed real estate broker with Andrew Mitchell and Company in Concord MA. She has been selling luxury properties in the towns west of Boston since 1993. As member of the Institute for Luxury Homes Marketing; a Certified Residential Specialist, and Accredited Buyer Representative, Marilyn has the knowledge and experience to provide the efficient and cost effective services her clients expect. Visit www.marilynmessenger.com for more information.