SPRINGFIELD, Mass. (WWLP) – The Realtor Association of the Pioneer Valley has released its report on the housing market in July. Home closings have decreased however, they’re still selling for more money.
Closing sales in July this year were down 13% over July 2020 with 588 homes sold in Franklin, Hampden and Hampshire Counties. The median sale price for those homes was $305,000, which is about 19.3% higher than last year.
The inventory of available homes for sale in July were down 38.9% with 605 on the market versus 990 homes on the market in July 2020.
Homes are being grabbed quicker as well. The average time on the market dropped by 50-percent year-over-year, down to just 27 days.
A 30-year mortgage averaged at 2.87 percent with an average .7 points for the last week of July. According to the report, a 30-year mortgage averaged 3.02 with an average .8 points in June 2020.