(WWLP) – When it comes to housing in western Massachusetts, it’s currently a seller’s market.
According to the March 2021 sales report by the Realtor Association of Pioneer Valley, home prices continue to increase, now up 16.7 percent compared to this time last year. The amount of homes for sale has plunged by 68 percent.
“The boom is that there are more sellers coming on the market right now,” said Carrie Blair, real estate agent for Keller Williams Realty Pioneer Valley. “They’re getting top dollar for their house right now. This is the highest market we have ever seen.”
Blair, said the market has become very competitive for potential home buyers. Recently she had seen as many as 30 offers in for one home.
“People are going through extreme measures to get houses, and it’s not just money,” said Blair. “It’s a little bit of everything. They are waiving inspections, they are doing quick closings or flexible terms. Try to find out what the seller’s motivation is to get the deal.”
Houses are also going fast. According to the report, days on the market for single-family homes went down from 80 days last March, now to 47 days on the market.
Blair’s advice for potential homebuyers: keep saving as much money as possible, and be prepared to give your best offer.