March Real Estate Update for the Pioneer Valley Region - Sales are Up!

March 2015 Single Family Sales Report

Key Points - Pioneer Valley Single Family Homes

• Sales - Up 14.2  percent from 246 in March 2014 to 281 in March 2015.

• Median Price - Down 2.8 percent from $185,225 in March 2014 to $180,000 in March 2015.

• Inventory is down 6.1 percent from 2,067 single family listings at the end of March 2014 to 1,941 single family listings at the end of March 2015.

• Supply - At the end of March 2014 there 8.4 months of supply at the current rate of sale.  At the end of March 2015 there were 6.9 months of supply at the current rate of sale.

• Days on Market - The average days on market is down 4.5 percent from 156 days in March 2014 to 149 in March 2015.

• A Six-Year View - The median price remains the same from $180,000 in March 2010 to $180,000 in March 2015. 

• Mortgage Rates - 30 year fixed rate mortgage averaged 3.69 percent with an average of 0.6 points for the week ending March 26, 2015.  Last year at this time the 30 year FRM averaged 4.40 percent with an average 0.6 points. (Source: FreddieMac.com)

This information is provide by the Realtor Association of Pioneer Valley.