Marilyn Messenger - Sudbury, Wayland, Maynard...

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Always get the latest news and events for Sudbury, Maynard, Wayland and the nearby towns west of Boston MA at http://www.marilynmessenger.com

Welcome to the Stow MA (01778) real estate market conditions. Stow is doing well in the current market. Inventory is down- 35 single family homes for sale compared with 50 at this time last year.

Year-to-date, there are been 9 closed sales are up 33% from last year; and both median and average sale prices were up. The 2009 median sale price to y-t-d is $490,000; median last year was $388,500. The average 2009 y-t-d is $549,062; last year it was $430,483 for the same period. There are currently 4 homes with sales pending.

Current list prices for single-family homes in Stow range from $225,000 to $1,295,000; 3 bedroom homes range from $299,000 to $409,000; 4 bedroom homes start at $445,000; and new homes with 8 rooms, 4 bedrooms, and 2.5 baths start at $549,000.

So has the Stow market started to turn around? Well, lower prices and lower interest rates are both good for buyers, however, fewer choices give sellers a bit of an edge and will eventually put upward pressure on price. For now, I would say were still a ways from being a balanced market since most buyers look at more than one town and are likely to find areas where there are more homes available. In any case, don't believe the headlines - all real estate is local and especially in Massachusetts conditions can vary greatly from town to town, and often it's right down to the particular price range.

To find out about available homes in Stow MA visit www.marilynmessenger.com where you'll find complete MLS listings with addresses and maps, along with local market information and news.

Data source: MLSPIN - Multiple Lising Service Property Informatoin Network.

Here's what's going on in Sudbury MA. There were six closed sales in Sudbury during February; exactly the same number as in February 2008. The median sale price was $355,750; the average was $376,750 - both higher than last year, but prices that most people find surprising for Sudbury where there are so many higher priced homes for sale. Obviously, some first-time buyers saw some good opportunities to get into Sudbury and went for it!

Year to date, the number of closed sales are down from the same period in 2008 - 18 compared with 23; the median sale price was higher - $560,0000 up from $512,450; the average sale price was lower - $575,878 down from $655,612. Activity is getting stronger - there are 12 single-family homes with offers accepted, and 8 with sales pending.

Including the 12 homes with accepted offers, there are 111 single-family homes for sale; last year at this time there were 106. The median list price is $929,000; the average is $1,172,789; both up approximately 100K from last year.

The price ranges that have increased inventory are compared with last year at this time are: $400K to 499,900 - 8 on the market up from just 3; 1 million to $1,499,900 - 23 up from 15; and there are nine homes listed between 2 million and 2,499,900; last year there were no homes for sale in that range.

Inventory in most other prices ranges has decreased. There are only 6 homes for sale between $600,000 and $699,999 down from 12 one year ago. Between 800k and $899,999 there are 3 compared with 13 last year. While sellers may not be able to net as much as they would like to, the market is less favorable toward buyers in these price ranges than it has been recently.

Visit www.MarilynMessenger.com for the latest local market condition reports for Sudbury, Wayland, Weston, Maynard and Stow MA, complete MLS home search, news and information to help you plan your next move. Market information for any other town e-mail marilynmessenger@realtor.com

Data source: MLSPIN (Multiple Listing Service Property Information Network.)

Whether it's the new tax credit, lower interest rates, lower prices, or just pent-up demand, it looks like first-time buyers are seeing the excellent values in Maynard and single-family homes under 300K are selling quickly. Year-to -date sales are up tri-fold from last year - 10 compared with 3; and there are currently 9 homes with sales pending and 8 homes with offers accepted waiting for contingencies to clear.

The condo/townhouse market is also starting to move. Again, there are some good values, but fewer on the market - 22 compared with 40 at this time last year; and there are 3 sales pending. Prices range from the 170s for apartment-style condos; $199,900 to $289,000 for townhouse re-sales at desirable Deer Hedge Run, Oak Ridge, and Apple Ridge, where there are only 3 available compared with 13 last March; and new construction townhomes starting at $329,000.

Those who waited may buy for a lower price, but they may have missed out on some good choices as there are only 34 single-family homes, including the eight that already have accepted offers, compared with 59 for sale at this time last year; a lot of sellers are still holding off going on the market. Less supply will eventually will eventually put upward pressure on price. If you're interested in becoming a home-owner in Maynard, be prepared to step-up or you may miss out!

To find out what homes are available in Maynard and the nearby towns west of Boston, visit www.marilynmessenger.com your on-line source for real estate listings, news and information or call Marilyn Messenger at 508-596-3501 for personal real estate services.

*Data Source - MLSPIN (Multiple Listing Service Property Information Network.)

The Boston Globe reported more gloomy information about the real estate market in today and yesterday's newspaper. The article talked about January sales. Isn't "news" supposed to be what's going on today? Isn't that why they call it "news"?

While informaton about closed sales in January might be interesting, especially if the news is bad, what does it tell anyone on February 25? The real estate market is what your money can buy today - the houses sold in January aren't there anymore, so really who cares? You can't buy stock today at yesterday's prices... Further, the actual buying decisions were make at least a month or two prior, before the bailouts, etc.

In Sudbury MA, year-to-date, sales are up and both the median and average sales price are up from last year as well, not by much but they've certainly not fallen by 20%. And inventory is up only slighty - some price ranges have more inventory, but most have fewer homes for sale than last year at this time.

In Maynard MA there are only 29 single family homes for sale compared with 55 one year ago. Year-to-date sales are up. The townhouse market is also moving again - I put two under agreement in February, one of which has already closed. The number of townhouses available today is also substanitally less last year - only 22 compared with 37. Sellers are still not getting the prices they want but buyers are also having to pay more than they want.

The point is that supply and demand are what determines the market. What sold, or didn't sell, in January is not news! All real estate is local and in the towns west of Boston, it's not even the town, but the price-point within the town.The public needs to know what's going on today and should be careful about making assumptions based on outdated information. It's our job as professionals to make sure they know today's news!

Marilyn Messenger,CRS, ABR, GRI of RE/MAX Landmark is a market conditions reporter for Realty Times, Active Rain, and various other blogs and sites. The latest market information for Sudbury, Wayland, Weston, Maynard, and Stow MA can be found at www.marilynmessenger.com.