GREENFIELD, Mass. (WWLP) – 2019 was a great year for the western Massachusetts housing market and that trend is continuing into 2020.
Real estate sales for Hampden County hit $2.1 billion, which is a record, in Franklin County sales were up over 4 percent. More and more people are settling down all across western Massachusetts.
The economy is good, which is driving people to buy homes. In 2019, the median price of the property was close to 8 percent higher than in previous years- there is also a high demand for homes in Franklin County.
Real Estate companies are receiving multiple offers at a time from want to be new residents.
“A lot of people are aging and preferring to age in place, wanting to do renovations to their home rather than to sell so it makes it a little bit harder for first time home buyers because there is a shortage of inventory thus the multiple offers when something does come on the market,” said Judy Larson at Cohn and Company Real Estate.
Cohn and Company added that people can get more for their money in Franklin County compared to Hampshire or Hampden counties, their area can offer bigger houses-and bigger commercial space for less.
In many municipalities, first-time homeowners can find incentives from banks or their city.
Cohn and Company told 22News, this winter has been a great season for the housing market, a mild winter has allowed people to get out of the house and look at houses.