(WWLP) – The Realtor Association of the Pioneer Valley has released its report on the housing market for July.

Home closings have decreased however, they’re still selling for more money compared to July 2021. The median sale price for homes was $325,000, which is about 6% higher than last year of $305,000.

There were 502 homes sold in July this year, which is down 16.1% over July 2021 with 598 homes sold in Franklin, Hampden, and Hampshire Counties.

The inventory of available homes for sale in July was down 9.8% with 710 on the market versus 787 homes on the market in July 2021.

The average time on the market dropped by 10.3% year-over-year, down to just 25 days.

A 30-year mortgage averaged 5.41% with an average .8 points for the last week of July. According to the report, a 30-year mortgage averaged 2.87% with an average .7 points in 2021.