Overview of the Sutton, MA Housing Market

After a string of real solid, improving reports, Sutton shows that not all Metrowest is burning brighter for Home Sellers. Home Buyers should take note, Sutton seems to have sputtered a bit, as the number of homes for sale is a little crowded based on market demand. Sutton does tend to be a later spring market, but the numbers are largely all in one direction - down - for home sellers, in this report. It's not much, but it's enough. $/ sq foot is down another $7, and has now fallen $10 in the last two reports. That a pretty steep move. Let's see why:

 

 

The distressed inventory may hold some clues here. Foreclosures are up only slightly (1 unit), but short-sales are up almost double.  Clearly, some folks are hurting and need to get out of Sutton, and are hoping the tighter real estate market will help them out. But with such motivated sellers - who stand to gain nothing no matter what price their home sells at - that's sure to put pressure on prices of both short-sales and non-short sales. With 13 of the 57 homes for sale qualifying as distressed inventory, about 22%, that puts enormous pressure on the market. Sutton may see relief if these homes move off the market, but right now, it's an issue.

 

Sutton, MA Real Estate For Sale and Sold Market Statistics - Raw MLS Data

 

Distressed Inventory is Costing Home Sellers in Sutton

 

• There are 57 homes (vs. 39 in the last Sutton Real Estate Report) listed as For Sale.
• There have been 38 houses sold (vs. 38) in the last 6 months, and 23 homes sold (vs. 20) in the last 3 months.
• There was an Average Market Time of 162 days for just SOLD homes.
• There is an Average Market Time of 163 days (vs. 203) of the homes For Sale.
• The Dollars paid per Square Foot in Sutton, MA is $145 (vs. $152)
• There was an Average Sold Price of $296,118 for sold homes.
• Sutton has 4 properties (vs. 3) advertised as lender owned/foreclosure (typically foreclosure) .
• Sutton has 9 properties advertised (vs. 4) as a shortsale is going to be needed by lender .
• Sutton, MA “Hot Seller Index” (HSI): 68 Last Report: 73

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

Read my Explanation for Massachusetts Home Data Reports.

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About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

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*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.