The REALTOR® Association of Pioneer Valley (RAPV) released their 2011 single-family sales report. When compared with 2010, 2011 saw a decline in sales of 3.8%, while median prices dropped 4%. However, median sales prices in the Pioneer Valley are down 13% from 2006.
In 2010, there were 4,020 single-family homes sold in the Pioneer Valley. That number dropped to 3,868. The total single-family sales volume of the Pioneer Valley dropped from $843,691, 791 to $807,233,310, with average sales prices slipping from $209,874 to $208, 693, respectively. The median sales price dropped $7,500 from $187,500 in 2010 to $180,000 in 2011.
Although the overall numbers are down across the Pioneer Valley, the real estate market in Hampshire County improved with increases in closed units, closed sales volume, average sale price, and median sales price.
Sold single-family homes increased in Hampshire County from 882 in 2010 to 909 in 2011 with an increase in sales volume from $233,665,172 to $253,284,768. The average sales price for a single family home rose from $264,926 in 2010 to $279,641 in 2011. Median sales prices increased by only $1,000, however, from $244,000 to $245,000.
Hampden County and Franklin County saw a 5.1% and 9.1% decline, respectively, in single-family units sold. Median sales prices also dropped 5.7% in Hampden County, while dropping 4.7% in Franklin County.
RAPV also reported that the average 30-year fixed-rate mortgage was 3.9% on December 29, 2011, which is down from 4.86% on December 29, 2010. The average days that a single-family home stayed on the market in the Pioneer Valley rose 10.4% from 125 days in 2010 to 138 days in 2011.