Single-family home sales are down locally but prices are up

Local News
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SPRINGFIELD, Mass. (WWLP) – Single-family home sales are down around western Massachusetts, but prices are up.

Hampden and Hampshire counties saw a decrease in single-family home sales in August. However, Franklin County saw an increase in homes being sold.

According to the Realtor Association of Pioneer Valley, home sales in the Pioneer Valley saw an 6.6 percent decrease in sales but the price of homes are up 8.5 percent to $255,000 compared to August 2019.

The available single family homes are down 57 percent from 1,717 homes for sale in August 2019 to 739 homes for sale in August 2020.

Pioneer Valley

  • Sales down 6.6 percent
  • Median price up 8.5 percent to $255,000

Franklin County

  • Sales up 10.0 percent
  • Median price up 9.5 percent to $249,000
  • 77 closed sales

Hampden County

  • Sales down 3.5 percent
  • Median price up 15.9 percent to $244,500
  • 418 closed sales

Hampshire County

  • Sales down 25.5 percent
  • Median price up 5.8 percent to $330,000
  • 117 closed sales

REPORT: August 2020 Home Sales

The interest rates are still low, at around 2.94 percent for a 30-year fixed-rate mortgage. In 2019 at this time the 30-year fixed-rate averaged 3.62 percent for interest rates.

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