Pioneer Valley single-family home sales continue to improve; Median home prices down Reply

The REALTOR® of the Pioneer Valley (RAPV) has reported that single-family home sales jumped 8.9% with median prices dipping 3.5%. These figures compare single-family sales figures with a year ago.

Here is the breakdown by county.

County       Sales Median Sales Price  No. of Units Sold
Hampshire     Up 3.9%      Down 12.8%          132
Franklin  Down 3.1%         Up 2.4%           62
Hampden    Up 14.2%      Down 2.4%          306

The August 2012 single-family home median sale price for the Pioneer Valley was $202, 750, down from $210,000.  Hampshire County saw the biggest decline, from $269,000 in August 2011 to $234,500 this year.  Median sales prices in Hampden County dipped from $177,750 to $173,550.  Franklin County was the only county in the Pioneer Valley that realized an increase in median prices, from $204,500 to $209,500.

Increases in single-family listings going under-agreement in the Pioneer Valley are slowly catching up to the state as a whole.

RAPV reported that single-family listings going under-agreement rose 3.1% when compared to a year ago.  This is the 9th straight month of improved year over year comparisons.   Statewide, however, The Massachusetts Association of REALTORS® (MAR) reported that pending transactions were up, for the 16th straight month, 27.87% in August.

Similarly, MAR reported that pending condominium sales are up 30.73% when compared to a year ago.  RAPV did not release numbers for pending condominium transactions.

Although median prices are down, a Reuters poll indicated that economists are optimistic that they will improve about 2% to 2.5% over the next couple of years.  They state that a weak job market and tight lending requirements continue to contribute to the struggling recovery.

If you are planning on buying or selling a home in the Pioneer Valley, make your first call to Michael Seward at 413-531-7129.

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