Pioneer Valley single-family home sales and prices up in October 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

Pioneer Valley single-family home sales and median prices were up in the month of October when compared to the same period last year, according to data released by the REALTOR® Association of Pioneer Valley.

Single-family home sales were up from the 404 units sold in October 2012 to 437 units sold in October 2013 for an 8.2% gain, while median prices rose from $174,000 to $185,000 for a 6.3% increase.

What’s more, all three counties of the Pioneer Valley saw improvements in the number of sales and median home prices.  Here is the break down by county:

County

Sales Change

Median Price Change

Closed Units

Franklin

Up 14.6%

Up 15.1%

47

Hampden

Up 7.3%

Up 1%

295

Hampshire

Up 8%

Up 13.1%

95

Franklin County saw the largest increase in both sales and median home prices.  However, this is largely due to the fact that Franklin County usually has the least number of sales when compared to Hampden and Hampshire counties.  The increase in sales was due to only 6 more sales than October of last year, from 41 units to 47 units.    Median single-family home prices rose from $161,000 to $185,250.

Hampden saw 20 more single-family homes sold during the month of October when compared to the same period last year, from 275 units to 295 units.  Median home prices only rose $1700 this year when compared to the same period last year, from $168,200 to $169,900.

Hampshire County saw 7 more homes sold in October 2013 when compared to the same period last year, from 88 units to 95 units.  Median single-family prices rose $28,350 in October when compared to the same period last year, from $216,650 to $245,000.

Other items of note about the Pioneer Valley real estate market as stated by RAPV are:

  • · Single-family inventory in October was down 2.2% from 2,633 units to 2,574 units
  •    Single-family days on market was down in October 23.5%, from 132 days to 101 days.
  •   Single-family  homes that went under agreement climbed 3.2% in October when compared to the same period last year.
  •    Mortgage rates for a 30-year-fixed rose from 3.41% last year to 4.1% when compared to the same period last year.

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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