SPRINGFIELD, Mass. (WWLP) – The Realtor Association of the Pioneer Valley has released its report on the housing market for April. Home closings have decreased however, they’re still selling for more money compared to April 2021.
There were 415 homes sold in April this year, which is down 4.8% over April 2021 with 395 homes sold in Franklin, Hampden, and Hampshire Counties. The median sale price for homes was $300,000, which is about 11.1% higher than last year of $270,000.
The inventory of available homes for sale in April was down 33.2% with 399 on the market versus 597 homes on the market in March 2021.
The average time on the market dropped by 14.3% year-over-year, down to just 34 days.
A 30-year mortgage averaged at 4.98% with an average .8 points for the last week of April. According to the report, a 30-year mortgage averaged 3.06% with an average .7 points in 2021.