The condo market continues to be very strong as condos in the Valley are in high demand. Much of the interest is coming from retirees and soon to be retirees, especially the single-level units.
The Realtor Association of the Pioneer Valley reports a decrease in sales in September 2020 over 2019 by 3.7 and 8% year to date. Pending sales are up 22.4%. However, there was an increase of condos listed in September 2020, a 12.2 % increase over September 2019, and a 99.3% list to the sale price. There is only a 1.7 supply—a 44.1% drop in inventory from last year.
Franklin County has such a limited supply of condo available. There were only 3 condos for sale at the end of September, while last year, there were 11, a 72.7% decrease. The supply is super low, only a 1.1 month supply. There was also a drop in the days on the market by 38.6% to 30 days. The list to sale price is 100.1% in September and 96.7% year to date. This is in part is because of the lack of inventory.
Hampshire County is quite different. There are more condos in general. There were 21 new listings in September 2020, a 12.5% drop over 2019. Closed sales remained at 23, though down 19% year to date. Pending sales are up 22.7% in September but down 13.2% year over year. List to sale price is hovering at 98.5%.
While the median price in Franklin County was up in September, the year to date is $179,000. Hampshire County's median price has been close to and remains at $230,000.
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