Sudbury MA Market Conditions - Sales down, Inventory Up, Time to Buy!

Welcome to the Sudbury MA real estate market update.

Better news for buyers than sellers in Sudbury. Overall inventory is up from last year at this time - 149 current listings compared with 125 last year; so it's not surprising that time on the market is up also - 170 days vs. 156 last year. However, there are fewer homes available - between $500K and $700K; and from $900K to $999,900. Recent activity shows there are 21 single-family homes with accepted offers and 20 with sales pending.

Current prices for single-family houses in Sudbury range from $269,900 to $3,700,000. The median list price is $895,000 up from $845,000 on 7/13/08; the list average price is $895,000 up from $1,049,552 last year. Two bedroom homes start at $199,000; three bedroom homes start at $269,900 and four bedroom homes start at $430,000. Opportunities abound in the luxury home market with 31 homes for sale between $1,000,000 and $1,499,999.

The number of closed sales for June was down from June 2008 as were median and average sale prices; 23 sold vs. 33 in June 2008; the June 2009 median sale price was $612,500 vs. $685,000; the average was also down - $691,370 from $742,289. Year to date sales were also down from the first six months of 2008 - 63 vs. 74; however it is worth noting that it took 18% less time to sell a home this year; and both the median and average sale price was up - y-t-d median was $612,000; the average was $697,065.

Given the increase MORE