Hampshire County single-family home sales up 7.4%, median home prices up 16.4%; Pioneer Valley home sales dip 2.1%, median prices up 4% Reply

Call Michael Seward at 413-531-7129 if you plan on buying or selling a home in the Pioneer Valley

Call Michael Seward at 413-531-7129 if you plan on buying or selling a home in the Pioneer Valley

Hampshire County single-family home sales and median single-family home prices outperformed Franklin County and Hampden County in the month of August when compared to the same period last year, according to data released from the REALTOR® Association of Pioneer Valley.

While August single-family homes sales were down in the Pioneer Valley, they were up 7.4% in Hampshire County.  Median single-family home prices were also up 16.4% when compared to the same period last year, rising from $232,000 in August 2012 to $270,000 in August 2013. 

The year-over-year comparisons outperformed the same for rest of the Pioneer Valley.  Single-family home sales dipped 2.1% during the month of August in the Pioneer Valley overall, but median home prices climbed 4% when compared to the same period last year. 

There were eleven less Pioneer Valley single-family home sales in August when compared to the same period last year.  Last year there were 514 single-family homes sold throughout the Pioneer Valley during the month of August and 503 single-family homes sold last August.  However, Pioneer Valley median single-family home prices rose 4% in August 2013 when compared to the same period last year, rising from $200,000 to $208,000, respectively. 

Here is the breakdown of year-over-year comparisons by county:

County

Sales Change

Median Price Change

Closed Units

Franklin

Down 14.1%

Down 4.3%

55

Hampden

Down 3.8%

Up 1.7%

303

Hampshire

Up 7.4%

Up 16.4%

145

Franklin County saw the biggest drop in the number of single-family homes sold in August when compared to the same period last year at 14.1%, from 64 units sold to 55 units sold.  It was also the only Pioneer Valley county that saw a decrease in median single-home prices at 4.3% with median prices dipping from $209,500 to $200,500. 

The Pioneer Valley most populous county saw a 3.8% decrease in single-family home sales in August, Hampden County also saw median single-family home prices rise slightly at 1.7%.  There were 315 single-family homes sold in August 2012 and 303 single-family homes sold in August 2013.  Single-family median prices rose to $175,000 in August from $172,100 in August of last year.

The fact that there were less sales and higher median prices in August is likely a reflection of the fact that inventory was down 6.2%, from 3,093 single-family listings to 2,901 listings. 

Another factor is the rise of interest rates. At the end of August last year, interest rates were at 3.59% with an average of .7 points whereas at the end of August this year, they were at 4.51% with an average of .7 points, according to FreddieMac.com. 

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.  Michael Seward is a Certified Residential Specialist, a Certified Buyers Agent, A Certified Loss Mitigation Specialist, a Certified New Homes Specialist, and Green designee of the National Association of REALTORS®.

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