Ending the week on positive real estate news!
According to the Realtor Association of the Pioneer Valley the median price of homes sold in the Pioneer Valley rose 2.5% in the first quarter of 2013, from 163,950 in the first quarter of 2012 to 168,000 this year.
The number of homes sold rose just 0.6 percent, from 790 in the first three months of 2012 to 795 in the same period this year. The inventory of available residential property fell 15%, from 2636 single-family listings at the end of March 2012 to 2240 at the end of last month.
Homes also sold more quickly. Average days on market fell from 170 accumulated days per home last year to 145 days for 2013.
Listings under agreement fell 12.9%. There were 1163 homes under agreement at the end of March 2012 and 1013 at the end of March 2013.
Franklin County Stats:
Sales fell 30.3% from 89 homes to 62, reflecting small housing market in the mostly rural county. Median prices rose 10.8% from 162,000 to 179,500.
It is still early in the year to predict what the future is going to bring but I am seeing a low inventory on the horizon.
This information is provided by the Realtor Association of Pioneer Valley