The year-end numbers are quite telling. They show that the higher-end properties significantly contributed to the robust real estate market here in the Valley. Will we see this trend continue in 2021?
The median sales price of single-family homes sold in the Pioneer Valley in 2020 increased overall by 9.2% over 2019, going from $229,000 to $250,000. Franklin County went from $226,500 to $245,000. Hampshire County $291,500 to $319,900. Much of the increase in the median price has to do with the high-end sales.
In Franklin County, the single-family homes that sold between $300,000 - $400,000 in 2020 were 131, whereas, in 2019, only 93 sold. Just as remarkable is those that sold over $400,000, 77 sold in 2020, and only 42 sold in 2019.
However, the single-family homes sold in Franklin County around and under the 2020 median sales price sang a different tune. The sales in the $200,000 - $300,000 range were virtually the same, 262 in 2020 and 260 in 2019. In contrast, homes that sold under $200,000 were 202 in 2020 and 239 in 2019, a sizable decrease and an amount similar to the increase in the higher end of the market.
Indeed, low inventory and interest rates, as well as those selling homes and purchasing up into a higher price range, all had a hand in the activity seen in the high end in 2020. Still, those of us who actively list and sell real estate in Franklin County saw this activity come from many buyers from out of the area looking for primary and secondary homes here in the Valley.
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