Every month, the Realtor Association both local and State releases the monthly single-family and condo sales report. Among other statistics it covers the number of sales and the median price compared to the previous year. It is presented by county and the entire Pioneer Valley as a whole, covering all three counties.
The percentage posted can differ significantly from month to month. As a result, it may give a misleading picture of the market, especially in Franklin County, where the number of homes that sell in any given month is modest. For example, in February, the numbers show that Franklin County saw a 51% increase in single-family home that sold compared to February 2020, and in March, a decrease of 35%. What that translates to is there were 41 sold in 2020 compared to 27 in February 2021 and 37 in March 2020, whereas 24 sold in 2021.
There are other factors at play that can affect these numbers. One major factor is the dwindling number of homes for sale. At the end of March 2020, Franklin County had 153 single-family homes for sale. At the end of March 2021, there as only 46 for the entire county.
The supply of homes for sale will continue to be a factor in home sales. The number of new listings in Franklin County in March 2021 was 45, whereas there were 62 in 2020.
For the next few months, the home sale numbers will also be affected by COVID especially in the early days of the pandemic when everything came to a screeching halt. For the next few months, we should keep this in mind when looking at the sales numbers.
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