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Sudbury Real Estate - Local Market Conditions (4/21/08)
Find a Home - Complete MLS Listings
Busy Spring in Sudbury! After a late start, the spring market in Sudbury MA is getting busy as the number of homes for sale continues to shrink putting upward pressure on list prices. Currently, there are 116 single-family homes on the market, down 21% from 146 one year ago. Of the 116 active listings 15 already have accepted offers waiting for contingencies to clear, so really there are only 101 that are fully available. There are also 19 single-family homes with sales pending. Additionally, time on the market has also dropped from 182 last year to 166 days – all positive news for sellers who have their properties priced correctly for today’s Sudbury marketplace.
List prices in Sudbury range from $249,900 to $2,950,000. The median list price for a single family home in Sudbury is $809,450 up from $719,900 on 4/21/07 and the average is $955,337 up from $866,319 last year at this time. The median list price for the 19 homes with sales pending is $829,000 and the average is $954,584 – final sale prices for these homes will be available as they close in the next month or two.
Both the number of closed sales and the median and average sale price is year-to-date are down from 2007 for the same period, however, it’s important to understand that the market is what is available today and as I mentioned above, lower inventory is putting upward pressure on pricing and buyers who want to be home-owners in Sudbury are understanding that now is the time.
Sellers also have a better understanding of market dynamics and those who are positioning their properties to be attractive in this market are having success. Just as all real estate is local, pricing is based on the location, condition, and size of each individual home and every property does not appreciate at exactly the same rate. This is why listing with an experienced broker/agent who has been in the homes in an area is more important than ever.
Interest rates are still historically low and the smart buyers are moving! To find out what homes are available in Sudbury and the towns west of Boston, visit www.MarilynMessenger.com or call Marilyn Messenger at 508-596-3501 for personal real estate services.
Data source: MLSPIN (Multiple Listing Service Property Information Network.)
ZIP Code: 01776
Approximate Location Boundaries: Approx. 20 miles west of Boston - surrounding towns are Wayland, Framingham, Concord, Maynard, Hudson, Stow, and Lincoln.
Location Characteristics: 20 miles west of Boston. Graced with natural beauty, Sudbury is an ideal blend of old and new, still rural, yet vibrant. This beautiful New England suburb features lovely residential neighborhoods of charming historical homes and well-designed new construction set on large, meticulously landscaped properties.
Reminders of the town's colonial past are evident at every turn. Old barns, stone walls, gracious farmhouses, and wonderful pre-Revolutionary homes are a common sight. Sudbury is the home of the Wayside Inn/Restaurant, built in 1680 and considered to be one of the oldest inns in the nation. Each fall, the community welcomes visitors to the Colonial Fair.
Fine schools and town facilities combine with a myriad of recreational opportunities and active civic, social, and charitable organizations to keep residents involved. Commuting is convenient via Routes 128 and Interstate 495, and major shopping malls are just 10 minutes from home. Recreational highlights include the National Wildlife Refuge and the Sudbury River area for canoeing, hiking, and cross-country skiing.
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