Home Sales Rise in Sudbury, Middlesex County

Sudbury homes sales in February 2013 were up from the same month in 2012, but Middlesex County home sales overall rose ever so slightly for the month, according to a recent report by The Warren Group, publisher of Banker & Tradesman.

Middlesex County saw 487 home sales in February, which was an increase of just more than 1 percent from the 481 homes sold in February 2012. Sudbury specifically, however, saw 13 sold homes in February, up from 10 sold in February 2012.

With January and February numbers in, Sudbury sales were up 42 percent year-to-date, from 19 homes sold in the first two months of 2012 to 27 homes in the same period in 2013.

The median sale price in Sudbury is also up significantly, 65 percent from February 2012 to February 2013, from $442,00 to $731,000. Middlesex County's median home price was up in February 2013 compared to February 2012 also — from $330,000 to $360,000.

Throughout the entire state, home sales dropped 5 percent in February compared to a year ago. It was the first drop since December 2011.

"Two factors caused this modest drop in February: low inventory and a comparison with a strong previous year of sales," said Timothy M. Warren Jr., CEO of The Warren Group. "Even so, I'm still hopeful for a strong spring market. As more sellers list their homes in the spring, activity will pick back up."

Median sale prices are up across Massachusetts, which Warren connected to low inventory.

"With such low inventory, we're seeing bidding wars — homes selling above the asking price," Warren said. "As prices rise, more sellers will begin to list their property which in turn pumps up sales volume."