Tuesday, December 27, 2016

RAPV Reports November 2016 Pioneer Valley Sales Up 33.2%

The REALTOR® Association of Pioneer Valley has released a sales report for November 2016 in the Pioneer Valley. Single-family home sales in November were up 33.2% as compared to the same time last year, while the median price was down 2.9 percent to $187,498.

See County breakdown below:

Franklin County

Sales up 44.7 percent
Median price down 2.2 percent to $177,000

Hampden County

Sales up 29.9 percent
Median price remained the same at $175,000

Hampshire County

Sales up 35.2 percent
Median price down 5.8 percent to $249,500

We continue to struggle with not enough homes to sell. Inventory fell 34.3% from 2,837 single family listings at the end of November 2015, to 1,863 this November. Average days on market dropped from 108 days in November 2015 to 92 days in November 2016. Interest rates, however, are climbing. The 30-year fixed-rate mortgage (FRM) averaged 4.03% with an average 0.5 points for the week ending November 23, 2016.

Friday, December 2, 2016

Year to Date Sales Up Despite October Decrease

An article from the Lowell Sun discussed a recent report from the Massachusetts Association of REALTORS® citing year to date single family home sales are up 7.9% despite October declining 5.6% over last year at the same time. As has been the story for all of 2016, there simply aren't enough houses on the market to satisfy buyer demand.

The good news for October is that homes sold quicker this year and sellers on average are getting 96.2% of asking price.

Read the full article here.