The month of July resulted in a robust real estate market for Franklin County! Compared to July of last year Franklin County beat the Pioneer Valley region with sales up by 15.4%.
Pioneer Valley - Key Real Estate Points:
Sales - Up 5.3 percent from 586 in July 2016 to 617 in July 2017.
Median Price - Down 1 percent from $222,250 in July 2016 to $220,000 in July 2017.
Inventory of available property - Inventory fell 28.4 percent from 2,536 single family listings at the end of July 2016, to 1,817 single family listings at the end of July 2017.
Supply - At the end of July 2016 there were 5.4 months of supply at the current rate of sale. At the end of July 2017 there were 3.7 months of supply at current rate of sale.
Days on Market - The average days on market dropped 36.3 percent from 99 days in July 2016 to 63 days in July 2017.
Pending Sales - Listings which are pending (under agreement to sell) are up 24.6 percent from 505 in July 2016 to 629 in July 2017.
Mortgage Rates - 30-year fixed-rate mortgage (FRM) averaged 3.9 percent with an average 0.5 points for the week ending July 28, 2017 . Last year at this time the 30-year FRM averaged 3.4 percent with an average 0.5 points. (Source: www.FreddieMac.com)
Check out the charts for detailed comparisons provided by Realtor Association of Pioneer Valley and Massachusetts Association of Realtors.