Belchertown sees increase in single-family home and condo sales in 2012, decrease in new single-family building permits Reply

The town of Belchertown saw an increase in the number of single-family sales and a slight increase in median home prices in 2012, but there was also a decrease in new building permits.   The Belchertown condo market also saw an increase in the number of sales.

According to data collected from MLS Property Information Network (MLSPIN), there were 14 more single-family homes sold in Belchertown in 2012 than in 2011, rising from 118 to 132 home sales.  Median home sale prices inched up from $249K to $252,500.

The average price per square foot for a Belchertown single-family home rose from $130 per square foot to $131 per square foot.  The average days on market increased slightly in 2012 from 157.38 days to 161.60 days.  The average square footage of a single-family home decreased from 2062.71 sq.ft. to 2017.45 sq.ft. in 2011 and 2012, respectively.

According to the Belchertown Building Inspector Paul Adzima, there was a drop in the number of single-family building permits pulled.  Although Belchertown has historically been one of the fastest growing communities in the commonwealth, the economic collapse was devastating to the town’s building industry.

Prior to the mortgage crisis, Belchertown averaged nearly 100 new single-family building permits per year.  In 2011 and 2012, there were 32 and 17 single-family building permits pulled in 2011 and 2012 respectively.

The chart below shows the number of single-family building permits pulled since 2004.

2012

2011

2010

2009

2008

2007

2006

2005

2004

17

32

64

22

13

54

54

89

100

Although there was a drop in the number of single-family building permits pulled in 2012, there wasn’t a significant drop in land sales.  In 2011 there were 19 building lots sold in Belchertown. In 2012, the number of building lots sold only decreased to 16.

The Belchertown condominium market also saw an increase in sales in 2012, but a decrease in median sales price.  The condo market in Belchertown is dominated by units in complexes that restrict ownership to those aged 55 and older.   There are four 55 and older condo complexes in Belchertown: Brook Hollow, Jonquil Estates, Orchard Villas, and Summer Hill Estates.

The 55 and older condominium complex that had the most sales was Summer Hill Estates.  The units sold for as low as $209,000 to $225,000.  It should be noted that he author of this blog sold the unit that sold at the higher end, which was $10,000 more than next highest sale.

There were 14 Belchertown condo sales in 2012 with a median sale price of $178,500K.  In 2011 there were 11 condo sales with a median sale price of $208,900K.

At the time of the publication of this blog post, there were only 65 single-family homes listed for sale in Belchertown.

If you are planning on buying a home in Belchertown and would like to take advantage of the best internet real estate marketing available in the Pioneer Valley, make your first call to Michael Seward at 413-531-7129.

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