Home sales are up in W. Mass.

SPRINGFIELD, Mass. (WWLP) - Some good news for the local real estate market.

When home sales are up that's good for the local economy and 2012 proved to be an excellent year for buyers and sellers in the area.

Brian Sears from the Realtor Association of the Pioneer Valley told 22News every house that sells is an estimated $60,000 dollars that goes right back into the local economy.

He says single family home sales were up nearly 18% from 2011 to 2012, that's great news for the economy.

However, Sears did say there was a 1% drop in the median price of homes.

So for someone trying to sell their home, they may not get as much as they were expecting but for someone looking to buy a home in Springfield.  They're the most affordable they've been in more then a decade.

Right now, it's a win-win for everyone.

"It is still good for both buyers and sellers.  With the lower inventory available that's good for sellers.  With the low prices and low interest rates that's good for buyers," said Kevin Sears, Owner of Sears Real Estate.

Although 2012 was a great year for home sales, Sears did say we're headed in the right direction towards recovery of the home market but we're not there yet.