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Pioneer Valley Real Estate Sales

Home sales rose 8.9 percent across the region last month, according to statistics released Tuesday by the Realtor Association of Pioneer Valley. 

The number of homes sold rose from 459 in August 2011 to 500 in August 2012. 

But the median sales price fell 3.5 percent from $210,000 in August 2011 to $202,750 in August 2012. 

Kevin P. Sears, an owner and broker at Sears Real Estate in Springfield and a former president of the Massachusetts Realtor Association, said a slow economy and a large number of homes that have been foreclosed upon by mortgage lenders is keeping prices down.  Foreclosure auctions don't count in statistics kept by the Realtor Association of Pioneer Valley. But he said most end up getting sold through the multiple listing service soon after foreclosure, often at 60 cents or 70 cents on the dollar. "The good news is we are seeing old inventory cleared off," he said. "But we haven't hit that point yet where we see the prices following the rest of the trends." 

On a month-to-month basis , sales were up 16.3 percent from the 430 homes sold in July. The median price rose 6.7 percent from $190,000 in July.

In Hampshire County, sales rose 3.9 percent from 127 to 132. The median price fell 12.8 percent from $269,000 to $234,500. 

In Franklin County, the number of homes sold fell 3.1 percent from 64 to 62. The median sales price rose 2.4 percent from $204,500 to $209,500.

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