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January Real Estate Market Update - Sales are up!

Pioneer Valley

Sales up 7.6%

Jan 2014 - Number of units closed - 263
Jan 2015 - Number of units closed - 283

Jan 2014 - Average Sales Price - 197,104
Jan 2014 - Average Sales Price - 213,318

Franklin County

Sales up 17.1%

Jan 2014 - Number of units closed - 35
Jan 2015 - Number of units closed - 41

Jan 2014 - Average Sales Price - 164,031
Jan 2015 - Average Sales Price - 214,529

Hampshire County

Sales up 5.7%

Jan 2014 - Number of units closed - 53
Jan 2015 - Number of units closed - 56

Jan 2014 - Average Sales Price - 286,148
Jan 2015 - Average Sales Price - 271,883


Key Points - Pioneer Valley Single Family Homes

Sales - Up 7.6 percent from 263 in January 2014 to 283 in January 2015. 

Median Price - Up 3.4 percent from $179,000 in January 2014 to $185,000 in January 2015.

Inventory is down 3.9 percent from 1,953 single family listings at the end of January 2014 to 1,877 single family listings at the end of January 2015.

Supply - At the end of January 2014 there were 7.4 months of supply at the current rate of sale.  At the end of January 2015 there were 6.6 months of supply at the current rate of sale.

Days on Market - The average days on market is up 13.8 percent from 137 days in January 2014 to 156 in January 2015.

A Six-Year View - The median price is down 2.6 percent from $190,000 in January 2010 to $185,000 in January 2015. 

Mortgage Rates - 30 year fixed rate mortgage averaged 3.66 percent with an average of 0.6 points for the week ending January 29, 2015.  Last year at this time the 30 year FRM averaged 4.32 percent with an average 0.7 points.

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