September condo sales are up in Massachusetts, but Pioneer Valley condo market still struggling Reply

Condominium sales were up in September 10.4% compared with last year, according to the Massachusetts Association of REALTORS® (MAR). The organization stated that there were 134 more condo units sold in September 2012 than in September last year. However, Pioneer Valley condo sales figures remain basically flat.

Last year, MAR reported, there were a total of 1,292 condo units sold in the month of September. In September 2012, 1,426 condo units sold. Condo sales have seen improvements in year-over-year numbers for 14 out of the last 15 months.

Condominium median prices are also up 2.9% over last year. In September 2011, the median sale price for a condo in Massachusetts was $272,000. This past September, the median sale price was $280,000. MAR stated that September marked the 7th straight month of year-over-year increases in median prices.

The REALTOR® Association of Pioneer Valley did not release condo sales data for September, but according sales data from MLSPIN, the multiple listing service, the number of condo sales dropped in the Pioneer Valley from 65 units sold in 2011 to 58 units sold in 2012. However, there was a modest climb in September condo median prices, from $136,000 in 2011 to $140,000 in 2012.

As expected, most September condo sales in the Pioneer Valley were in Hampden County. In 2011, 41 condo units sold with a median price of $124,250. These numbers were down a hair in 2012 with 40 condo units sold with a median sales price of $119,000.

In Hampshire County, the 15 condo units that sold in September 2012 was down from the 22 units that sold during the same period in 2011, but there was also a modest climb in median sale prices from $170,000 to $171,500.

Franklin County saw the least number of condominiums sold, but the largest increase in median sales price. In September 2011, there were 4 condo units sold with a median sales price of $122,000. This year, there were 3 condo units sold with a median sales price of $130,000.

Although condo sales still seem to be struggling in the Pioneer Valley when compared to the state as a whole, the fact that condo sales figures are up in the commonwealth is a good indication that better times are ahead.

Click here for a look at Pioneer Valley single-family sales figures for September.

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 or email me.

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