Median single-family home sales up in the Pioneer Valley, sales down on low inventory Reply

The Pioneer Valley real estate market continues to improve. Call Michael Seward at 413-531-7129 if you plan on buying or selling a home in the Pioneer Valley

The Pioneer Valley real estate market continues to improve. Call Michael Seward at 413-531-7129 if you plan on buying or selling a home in the Pioneer Valley

The REALTOR® Association of Pioneer Valley recently reported that April median single-family home prices were up 12.5% overall in the Pioneer Valley when compared to the same period last year, but the number of single-family home sales were down 12.6%. This was likely due to low inventory earlier in the year. However, the number of Pioneer Valley listings that went under agreement rose 21.5%, which is a good indication that the real estate market continues to improve.

What’s more, according to the Massachusetts Association of REALTORS® (MAR), the number of single-family homes that went under-agreement throughout the commonwealth in April was at its highest point since 2004.

“Buyers came out in force to make offers on the limited number of homes for sale in April,” said 2013 MAR President Kimberly Allard-Moccia. “While the activity is positive, we need more homes on the market to make sure prices don’t spike up too quickly, and as a result, push people out of the market because of the high cost of homes.

Although the Pioneer Valley saw an overall increase in median single-family home prices, only Hampden County contributed to that overall average as both Hampshire County and Franklin County saw a drop. Also,  Franklin County was the only Pioneer Valley county that saw a rise in April single-family home sales.

Here is the April single-family home sales data by county:

County

Sales Change

Median Price Change

Closed Units

Franklin

Up 37.5%

Down 5.9%

33

Hampden

Down 19.2%

Up 13.2%

203

Hampshire

Down 6%

Down 4.3%

62

In Franklin County the number of single-family homes that sold in April 2012 and 2013 rose from 22 to 33, respectively. Median single-family home prices, however, dropped from $168,450 to $158,500 when compared to the same month last year.

There were 203 single-family homes sold in Hampden County during the month of April, which was down from the 251 homes sold during the same month last year. On the other hand, median single-family home prices rose to $167,500 from $148,000.

The number of single-family home sales and single-family home prices were down in Hampshire County during the month of April when compared with the same month last year, but based on the number of properties that are currently under-agreement, that number is expected to improve. The number of single-family homes that sold in Hampshire County dipped to 62 from 66, while median single-family home prices went down from $242,450 to $232,000.

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s