SPRINGFIELD, Mass. (WWLP) – The Realtor Association of the Pioneer Valley has released its report on the housing market in November. Home closings have decreased however, they’re still selling for more money compared to November 2020.
Closing sales in November this year were down 0.4% over November 2020 with 546 homes sold in Franklin, Hampden and Hampshire Counties. The median sale price for homes was $286,750, which is about 9.4% higher than last year of $262,000.
The inventory of available homes for sale in November were down 44.1% with 477 on the market versus 854 homes on the market in November 2020.
- Closed Sales: 546
- Median Price: $286,750
- Closed Sales: 580
- Median Price: $297,485
Homes are being grabbed quicker as well. The average time on the market dropped by 13.3% year-over-year, down to just 33 days.
A 30-year mortgage averaged at 3.07% with an average .7 points for the last week of November. According to the report, a 30-year mortgage averaged 2.77% with an average .7 points in November 2020.