Sudbury MA - Good News for Home-buyers: Homes for Sale Up 40%

Homes for Sale in Sudbury

While the media continues to report about low inventory resulting in fewer sales, the number of single-family houses for sale in Sudbury MA has increased approximated 40% over last year at this time. There are currently 90 single-family homes for sale in Sudbury compared with 64 last year at this time.

Prices for current listings on the market range from $425,000 to $3,750,000. The median list price of $899,450 is lower than last year at this time when the median list price was $922,450.

Luxury home-buyers continue to have the most opportunities in Sudbury.

There are 29 single-family homes on the market listed between $1,000,000 and $1,499,999, and 9 between $1.5 million and $3,750,000. The average time of the market for many of these homes exceeds fourth months; sellers may be ready to make a deal! See all of the properties for sale at www.marilynmessenger.com.

Pending sales are also up from last year at this time. There are currently 47 with sales pending including 34 that have accepted offers and are being shown for backup.

There were 17 closed sales in April; only one more than in April 2014. The median sale price of $640,000 was 3% lower than the median sale price in April 2014. Year-to-date there have been 52 closed sales compared with 36 for the same period in 2014. The Y-T-D (through 4/30) median sale price is $632,500, up 5.6% from the same period in 2014.

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"We were so pleased to have worked with Marilyn for a second time! Marilyn helped us to buy our first home in Sudbury 10 years ago and when we were ready to sell it, we called her again. The process of buying and selling can be overwhelming, but Marilyn helped us to sort through it all. She is a master at organization and coordination of the many parties involved in this process. She was on top of all of the details so that nothing fell through the cracks. There were multiple offers on the house we ended up buying and on our house when we sold it, and Marilyn was invaluable...MORE...  Contact Marilyn

Sudbury MA - Housing Market Still "Hot" in September!

September Closed Sales: The Sudbury market was still "hot" in September; sales and

prices were both higher than in September 2012. There were 23 closed single-family home sales during September in Sudbury compared with 6 in September 2012. The median sale price was $675,000 was up from $566,000 in September 2012.

Year-to-date (through 9/30): Sales and prices for the first nine months of 2013 are up over the same period last year in Sudbury. YTD there have been 203 closed sales in Sudbury compared with 183 in 2012. The median sale price in 2013 was $675,800; it was $639,000 for the first nine months of 2012.
Current: As in most places, there are fewer homes on the market than last year at this time (10/16); there are 66 single-family homes for sale compared with 93 on 10/16/2012. List prices in Sudbury range from $409,00 to $3,495,000. See homes for sales at www.MarilynMessenger.com.
The current median list price in Sudbury is $952,000; last year on 10/16 the median list price in Sudbury was $795,000. As in Wayland, the price range with the most choices is one million to 1.499 million – there are 17 for sale. The average time on the market for these properties is 266 days; some of these sellers may be ready to make a deal; most people do not want to have their homes on the market during the winter months. Buyers, this is time to buy if you want to be in your new home for the holidays!

Condominiums (townhouses and garden-apartment style): There were 5 closed sales of condominiums in Sudbury during September; all were new construction. The median sale price was $707,000.

Current: If you’re ready for easy living, there are 13 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 $714,900. 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. 

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The Rules

The profit potential in single family homes for investment has been a consistently good long-term investment. They offer investors the opportunity of high loan-to-value mortgages at fixed interest rates for 30 years on appreciating assets, tax advantages and reasonable control that other investments don’t offer.
Last year, Warren Buffett said that if he had a way of buying a couple hundred thousand single-family homes, he would load up on them. Blackstone group L.P. (BX) has now purchased over 30,000 homes and American Homes 4 Rent (AMH) has more than 19,000 for rental purposes.
Individual investors actually have an advantage over the institutional investor but if they are not familiar with rental real estate, some basic rules could be very helpful.

1. Invest now to get more in the future.
   Whether it is time, effort or money, the prudent investor is willing to forego immediate gratification for something more at a later date.
2. Real estate is an IDEAL investment.
   IDEAL is an acronym that stands for income, depreciation, equity build-up, appreciation and leverage. 
3. Invest in single family homes in predominantly owner-occupied neighborhoods at or below average price range.
   This strategy should involve homes that will increase in value, rent well and appeal to an owner-occupant in the future who will pay a higher price than an investor.
4. Location, location, location.
   The same homes in different areas will not behave the same. You can improve the condition, modify the terms or adjust the price but the location can’t be changed.
5. Understand your strategy – buy and sell, buy and hold or buy, rent and hold.
   These three distinct strategies involve big differences in acquisition, management and taxation.
6. Know where your profit is coming from before you invest.
   The four contributors to profit are cash flow, appreciation, amortization and tax savings. They don’t contribute equally or the same in all investments.
7. Profit starts with purchase.
   Buying the property below market value builds profit into the investment initially.
8. Risk is directly proportionate to the reward involved.
   An investment that has a high degree of upside also will have considerable downside possible.
9. Avoid functional obsolescence unless you have a plan before you buy.
   The lack of usefulness or desirability of a home that exists when you buy it will still be there when you sell it. Unless it can be cured, it will affect future profit.
10. Good property + good tenant + good management = great investment.
    These are three solid components for a successful investment.
11. Problems left unresolved have a tendency to get worse.
    It is generally cheaper in time or money to fix a problem earlier rather than later.

If you’d like more information about the opportunities in our market, contact me.
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About the author: Marilyn Messenger, a broker associate with Andrew Mitchell and Company, Concord has been representing buyers and sellers in Wayland, Sudbury, Maynard, Stow and the towns west of Boston for 20 years. She is an area expert and combines personal service with cutting-edge technology and negotiating systems to maximize results and minimize stress throughout the home-buying and/or selling process. Visit: www.marilynmesenger.com to see homes for sale.
Connect with Marilyn Messenger on Google+

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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