Hampshire County home prices rise for third consecutive month, median home prices dip slightly Reply

The REALTOR® Association of Pioneer Valley (RAPV) reported that single-family home sales rose 10.3% in the Pioneer Valley in the month of November, but median prices were down 3.4% when compared with the same period last year. Pending transactions also continue to improve regionally and across the commonwealth.

Although November median single-family home prices were down overall in the Pioneer Valley, they inched up slightly .3% in Hampshire County from $259,900 in 2011 to $260,000 in 2012.  With home sale prices rising in September and October, November marks the third straight month of year over year Hampshire County price increases.   Conversely, however, whereas November sales were up in Hampden and Franklin County, sales were down 5.7% in the Hampshire County from 87 units in 2011 to 82 units in 2012.

County      Sales Change Median Price Change        Closed Units
Hampshire      Down 5.7%           Up .3%               82
Hampden        Up 11.1%        Down 2.4%              261
Franklin        Up 44.4%        Down 20.6%               52

Sales were up 11.1% in Hampden County when compared with the same period last year from 235 units sold to 261 units sold. Median prices dropped 2.4% from $165,000 to $161,000.

In Franklin County, sales climbed the most and median sales prices dropped the most.  Sales were up 44.4% in November when compared with the same period last year from 36 units in 2011 to 52 units in 2012. Median single-family home prices also dropped 20.6%, from $208,186 in 2011 to $179,538 in 2012, but RAPV claimed that a $680K sale in 2011 skewed the median sales price statistics for 2011 higher.

Pending home transactions also continue to improve regionally and across the state. The Massachusetts Association of REALTORs (MAR) and the RAPV reported that pending transactions continued to improve in November when compared with the same period last year. RAPV reported that November single-family homes put under-agreement rose 21.2% when compared with the same period last year, from 344 in 2011 to 417 in 2012. MAR reported that pending single-family transactions rose across the state 28.5%, from 3,016 homes in 2011 to 3,866 homes in 2012.

RAPV and MAR are reporting that this is the 12th and 19th month of year over year improvements in pending single-family home transactions in the Pioneer Valley and in Massachusetts, respectively.

“In spite of the election in early November and continual talk since then of the ‘fiscal cliff’, buyers maintained optimism and continued making offers to purchase homes,” said MAR President Trisha McCarthy.

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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