SPRINGFIELD, Mass. (WWLP) – Home sales in Massachusetts are on the rise. According to Sears Real Estate, the eastern part of the state saw an increase in house sales.
But western Massachusetts received their fair share as well, with sellers seeing nearly an 11 percent jump in sales prices.
Home sales in Massachusetts hit an all-time high in November, with more than 5,100 sales recorded. That’s a 1.2 percent increase from last year.
The median single-family sale price increased more than 5.5 percent, about $20,000, from the previous year.
Sears Real Estate credits the state’s low unemployment rate for the boost.
“We have low interest rates. A 30-year fixed-rate mortgage would be around 4 percent,” Kevin Sears explained. “So, having people that are employed, having low interest rates, it’s really driving a demand for housing.”
In the Pioneer Valley, all three counties saw an increase in housing sales of 0.6 percent. The median price rose 13.5 percent, from $188,000 to more than $213,000. The number of days a house was listed dropped nearly 14 percent.
Sears Real Estate said that if you’re contemplating on selling your home, now is a perfect time; the market currently has more buyers than sellers.