The Real Estate market here in the Valley continues to be strong and telling more of the same story. High demand, low inventory, prices holding and increasing in many areas.
The June numbers show single-family home sales and the median price in the Pioneer Valley combing all three counties are up 20% over June of last year with the exception of Franklin County, which was down slightly, going from 60 sales in 2020 to 54 in 2021. Affecting this decrease is the low supply of homes for sale. At the end of June 2020, there were 140 single-family homes for sale and only 66 at the end of June in 2021. A significant drop. It is also affecting pending sales. 78 homes were under agreement in June of 2021, whereas there were 87 in 2020. Little change in new listings. There were 92 new listings for June 2020, 91 in 2021.
The median price went from $236,750 to $291,096 in 2021. A 23% increase. The list-to-sale price went from 94.4% in 2020 to 106.3% in 2021 in Franklin Co. The days on the market (from the list to pending date) 95 days in 2020 to 29 in 2021.
Hampshire County's picture is slightly different. Sales increased from 99 in 2020 to 135 in 2021, a 36.4% increase. 249 single-family homes available for sale in 2020 down to 138 in 2021. New listings are up from 145 in 2020 to 174 in 2021. Median price is up 23% from $327,000 to $405,000. Pending sales down 7.5% 160 in 2020 to 148 in 2021.
Though inventory is picking up some, it is still is in short supply and is still making an impact on the market
The Massachusetts Association of Realtors and the Realtor Association of the Pioneer Valley are the market data sources.
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