The month of July showed positive signs in the real estate market. It was one of our best months as well as the company. I am receiving the same positive news from my colleagues and the latest statistics clearly show we are in a very good market across the Pioneer Valley region.
The statistics is comparing July 2013 vs. July 2012:
Pioneer Valley Region sales were up 17.7%
Median price climbed 8.9%
Franklin County sales were up 12.8%
Median price climbed 16.2%
Hampshire County sales were up 19.8%
Median price dropped 1.9%
Inventory of available property is down about 10% across the pioneer valley region. The days on market fell 28% from 132 days in July, 2012 to 95 days in July 2013. When you see this begin to happen there is a chance property values will start to increase. The more populated areas will experience this change before those that are listed in the hilltowns.
Mortgage rates for 30 year was 3.49 last year and now they are 4.31% which is quite an increase and can make a big difference when qualifying for a loan.
The information above is provided by the Realtor Association of Pioneer Valley, Inc.