Sudbury Real Estate Board

The number of homes sold through the MLS® System of the Sudbury Real Estate Board totaled 169 units in March 2024. This was down by 5.1% (nine sales) from March 2023.

Home sales were 28.9% below the five-year average and 20.2% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 449 units over the first three months of the year. This was an increase of 9.2% from the same period in 2023.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite/single-family benchmark price was $438,400 in March 2024, a modest gain of 3.1% compared to March 2023.

The average price of homes sold in March 2024 was $472,164, a moderate gain of 8.6% from March 2023.

The more comprehensive year-to-date average price was $442,854, increasing by 4.8% from the first three months of 2023.

The dollar value of all home sales in March 2024 was $79.8 million, a modest gain of 3.1% from the same month in 2023.

The number of new listings was down modestly by 2.2% (six listings) from March 2023. There were 263 new residential listings in March 2024. This was the lowest number of new listings added in the month of March in more than 35 years.

New listings were 20.7% below the five-year average and 25.6% below the 10-year average for the month of March.

Active residential listings numbered 416 units on the market at the end of March, essentially unchanged, down just 0.5% (two listings) from the end of March 2023.

Active listings were 0.7% above the five-year average and 48.4% below the 10-year average for the month of March.

Months of inventory numbered 2.5 at the end of March 2024, up from the 2.3 months recorded at the end of March 2023 and below the long-run average of 4.2 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.