November single-family home sales down in Pioneer Valley, prices up; Hampshire County sales up, prices down Reply

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

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

Pioneer Valley single-family home sales were down 7.3% overall in November, while median single-family home prices inched up .6% when compared to the same period last year, according to data released by the REALTOR® Association of Pioneer Valley.  Hampshire County was the only county in the Pioneer Valley with an improvement in number of sales, but a decrease in median prices.

Single-family home sales fell from 398 transactions to 369 transactions in November 2012 and November 2013, respectfully.  Median single-family home prices inched up from $178,950 to $180,000.

Here are the numbers by Pioneer Valley County:

County

Sales change

Median Price Change

Number of units sold

Franklin

Down 32.7%

Up 1.6%

35

Hampden

Down 6.1%

Up 2.6%

248

Hampshire

Up 4.9%

Down 12.3%

86

The number of single-family home sales in Franklin County fell from 52 in November 2012 to 35 in November 2013 for the largest decrease in home sales among the three Pioneer Valley counties.   During the same period, median single-family home prices rose from $160,000 to $$162,500.

Single-family home sales dropped to 248 units in November from the 264 units that sold during the same period last year in Hampden County.  Median single-family home prices rose to $165,700 from $161,500, however.

While Franklin County and Hampden County saw drops in sales and increases in prices, Hampshire County saw an increase in the number of sales and a decrease in median home prices.    The number of single-family home sales rose in November to 86 units from 82 units sold during the same period last year.  Median single-family home prices fell from $260,000 in November 2012 to $228,000 in November 2013.

RAPV also claimed that inventory was down 1.9% in November when compared to the same period last year, from 2,351 single-family homes to 2,307 single-family homes.    At the current rate of sale, however, there were 6.3 months of supply in November, which was up from last year when there were 5.9 months of supply in November.

Pending single-family home sales were also down 6.7% during the month of November when compared to the same period last year.

Meanwhile, the Federal Reserve announced today that it will begin its tapering of its Quantitative Easing program, the monthly bond purchasing program that has kept interest rates at record lows.  According to news reports, the FED has reduced its monthly bond purchases from $85 billion to $75 billion.

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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