November was another strong month in Real Estate here in the Valley. The sale of single family homes was up 11.3%, and the median price up 13.5% in all three counties combined compared to November of 2019. Franklin County saw a 37% increase in sales. The median price remained virtually the same, though year to date, it's up 7.2% from $226,750 in 2019 to $243,000 in 2020.
The lack of inventory continues to be a player in the marketplace. At the end of November, there were only 81 single family homes for sale in Franklin County, 108 in 2019. A decrease of 60%, leaving only a 1.5 month supply of single family homes for sale in 2020 compared to the 4.5 month supply in 2019.
New listings were up in Franklin County in November. 53 in 2020, whereas only 41 in 2019. Year to date, though, is down 8.5%—772 in 2019 and 706 in 2020. Original List to sale price was at 99.1% in November 2020, increasing 3.9% over 2019. Year to date in 2020, 96.1%. A 1.9% increase over 2019.
Pending sales for single family homes in Franklin County were up 53% at the end of November 2020 to 63. 41 in 2019. a 53% increase. Days on the market remain low. 43 days in 2020 from 108 at the same time in 2019. 60%decrease. Year to date, 69 days in 2020 compared to 89 in 2019.
Freddie Mac reported interest rates at the end of November 2020 at 2.77, where last year, it was 3.77.
Data source: Realtor Association of Pioneer Valley and the Massachusetts Association of Realtors.
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