Monday, August 24, 2009
Sudbury MA - Opportunities Abound in Luxury Market
News for buyers continues to be better than for sellers in Sudbury. Overall inventory is up from last year at this time - 136 current listings compared with 115 last year; the median list price is the same; the average list price is slightly higher; and the average number of days on the market is just about the same. However the $900K to $999,900 has fewer homes available – only 5 compared with 11 last year at this time. Recent activity shows there are 16 single-family homes with accepted offers and 16 with sales pending.
Current prices for single-family houses in Sudbury range from $259,900 to $3,700,000. The median list price is $879,400; the list average price is $1,117,545. Opportunities abound in the luxury home market with 44 homes for sale between one million and two million dollars. The number of closed sales for July was down from July 2008 as were median and average sale prices; 20 sold vs. 32 in June 2008; the June 2009 median sale price was $481,750 vs. $640,750; the average was also down - $620,643 from $755,727. The average time on the market was 147 days – just about the same as July 2008.
Given the increase in the number of homes on the market and the decrease in the number of homes sold, sellers need to rethink their pricing strategies if they want to move on. If not, perhaps they should consider going off the market so that serious sellers and buyers can get together. Correct pricing is crucial; all the pretty pictures and videos in the world will not attract buyers if the home is not priced correctly. Lowering the price after the fact will only net less money and add even more frustration to the process.
Interest rates are low and there are lots of great choices for buyers! 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. To get market information for any other town e-mail marilynmessenger@realtor.com.
Data Source: MLSPIN 8/18/2009
Current prices for single-family houses in Sudbury range from $259,900 to $3,700,000. The median list price is $879,400; the list average price is $1,117,545. Opportunities abound in the luxury home market with 44 homes for sale between one million and two million dollars. The number of closed sales for July was down from July 2008 as were median and average sale prices; 20 sold vs. 32 in June 2008; the June 2009 median sale price was $481,750 vs. $640,750; the average was also down - $620,643 from $755,727. The average time on the market was 147 days – just about the same as July 2008.
Given the increase in the number of homes on the market and the decrease in the number of homes sold, sellers need to rethink their pricing strategies if they want to move on. If not, perhaps they should consider going off the market so that serious sellers and buyers can get together. Correct pricing is crucial; all the pretty pictures and videos in the world will not attract buyers if the home is not priced correctly. Lowering the price after the fact will only net less money and add even more frustration to the process.
Interest rates are low and there are lots of great choices for buyers! 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. To get market information for any other town e-mail marilynmessenger@realtor.com.
Data Source: MLSPIN 8/18/2009
Labels: home selling, homes for sale, Luxury homes, Maynard, MLS, real estate, Stow, Sudbury MA, Sudbury real estate, Wayland, Weston
