Single-Family Homes Sales Up 25.4 Percent in 2012; December Prices Higher

Single Family Homes

Current (1/11/13):  There are only 65 single-family homes for sale in Sudbury compared with 94 last year at this time. Fewer homes for sale means less competition; making this a good time for homeowners who want to sell to put their homes on the market before everyone else. Some people think waiting will bring a higher price, however, if you’re going to buy another home, waiting may cost you since the price of the home you will buy will also have a higher price tag. Click to see homes for sale in Sudbury.

Prices for single family homes in Sudbury range from $269,000 to $2,199,000. The median list price is $789,000, down from $799,450 last year. The price range with the most homes for sale continues to be $1,000,000 to $1,499,999; there are 14 on the market in this range; last year there were 18. Sudbury continues to have excellent choices for luxury home buyers.

Pending: There are currently 13 properties with sales pending.

Sold December: There were 11 closed sales in December in Sudbury; one less than in December 2011. Median and average sale prices were higher; the median was $669,900, the average was $722,252. The December 2011 median sale price was $623,500 and the average was $677,079.

Sold 2012: Home sales were up 25.4% for the year in Sudbury. There were 227 single-family homes sold compared with 181 in 2011. Median and average prices were lower in 2012. The median sale price was $615,000, the average was $667,721. The 2011 median was $625,000, the average was $684,804.

Price Changes and Expired Listings: Here are the data the media won’t tell you, even though it is in many ways more telling than the number of sales and sold prices. As much as the housing market improved in Sudbury in 2012, homes that were not priced correctly had to adjust their listing prices to attract buyers. There were 271 price adjustments on 164 listings (some houses had to adjust more than once); the average adjustment was -5.91%.

There were also 81 houses that did not sell after being on the market for an average of 231 days. Some of these properties re-listed after their listing contracts expired and eventually sold. 

Pricing is the key to attracting the right buyer in any market. Marketing will get your exposure for your house but price is what exposes it to right audience. Some people think if they don’t ask a high enough price they will leave money on the table. As in many things in real estate, the opposite is true; list to price ratios were 94% of the original asking price, and 96% of the adjusted list price.

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