January Real Estate Market Update - Sales are up!

Pioneer Valley

Sales up 7.6%

Jan 2014 - Number of units closed - 263

Jan 2015 - Number of units closed - 283

Jan 2014 - Average Sales Price - 197,104

Jan 2014 - Average Sales Price - 213,318

Franklin County

Sales up 17.1%

Jan 2014 - Number of units closed - 35

Jan 2015 - Number of units closed - 41

Jan 2014 - Average Sales Price - 164,031

Jan 2015 - Average Sales Price - 214,529

Hampshire County

Sales up 5.7%

Jan 2014 - Number of units closed - 53

Jan 2015 - Number of units closed - 56

Jan 2014 - Average Sales Price - 286,148

Jan 2015 - Average Sales Price - 271,883

Key Points - Pioneer Valley Single Family Homes

Sales - Up 7.6 percent from 263 in January 2014 to 283 in January 2015. 

Median Price - Up 3.4 percent from $179,000 in January 2014 to $185,000 in January 2015.

Inventory is down 3.9 percent from 1,953 single family listings at the end of January 2014 to 1,877 single family listings at the end of January 2015.

Supply - At the end of January 2014 there were 7.4 months of supply at the current rate of sale.  At the end of January 2015 there were 6.6 months of supply at the current rate of sale.

Days on Market - The average days on market is up 13.8 percent from 137 days in January 2014 to 156 in January 2015.

A Six-Year View - The median price is down 2.6 percent from $190,000 in January 2010 to $185,000 in January 2015. 

Mortgage Rates - 30 year fixed rate mortgage averaged 3.66 percent with an average of 0.6 points for the week ending January 29, 2015.  Last year at this time the 30 year FRM averaged 4.32 percent with an average 0.7 points.

How Does the White House Compare to a Typical Home Purchased - Happy President's Day

President’s Day: How does the White House compare to the typical home purchased?

In the spirit of President’s Day we can use data from the 2014 Profile of Home Buyers and Sellers to see how the typical home differs from the White House.

Typical Home Purchased in the U.S.

• 84% of buyers purchased a previously owned home, with 79% of buyers choosing a detached single-family home.
• Looking at first-time and repeat buyers, both also purchased detached single-family homes more often with 75% of first-time buyers and 81% of repeat buyers.
• 50% of all buyers purchased their home in a suburb/subdivision. The typical detached single-family home purchased was 2,000 square feet.
• Homes purchased also had a median of 3 bedrooms, 2 bathrooms, and was built in 1993.
• Of all buyers, the expected length of tenure in the home purchased was 12 years.

The White House

• The White House was built in 1792, and in comparison is located in an urban or central area.
• The White House contains 6 levels, has 132 rooms, including 35 bathrooms.
• It also includes features such as: a tennis court, jogging track, swimming pool, billiard room, movie theatre, and bowling alley.
• While tenure in the median expected tenure in home lasts around 12 years, in the White House the expected tenure is between 4 and 8 years.

Posted in Economist Commentaries, by Brandi Snowden, Research Survey Analyst 

Yearly Real Estate Sales of Single Family Homes since 2003 in Franklin County, Ma of the Pioneer Valley Region

I've been keeping track of single family sales for all Franklin County towns since 2003.  I recently added 2014 and you can see a trend of where real estate sales are headed.   Interesting to see the rise and fall of the market over the past 12 years.  It appears we are now at 2004 to 2005 prices and an increase in values should continue over the next few years.  I do have the breakdown of sales for each town since 2003.  If you are interested in knowing the activity in your specific town, feel free to email me at wanda@mooneyandroberts.com.   

This information is gathered from MLS and does not include private sales.

Affordable and Attractive Ranch For Sale in Shelburne, Mass

This affordable and attractive ranch style home was built in 2012 and located in one of Shelburne's finest areas.   The welcoming interior is light and bright and features an open kitchen, dining and living area with double patio doors that lead to a deck.  It has a great kitchen with plenty of cabinets and countertop space, 2 bedrooms, full bath and all the appliances including washer and dryer are included.  If you need additional living space, the walk out basement can easily be finished to create large area that is perfect for a family room or office area.  This home offers low maintenance living, the interior is handicap accessible and it comes with a high efficiency Veismann boiler.  It has 3.92 wooded acres and located less than 10 minutes from Greenfield and Shelburne Falls.  This one is move in ready, call today for a showing appointment. $179,900

Handsome Center Hall 1780 Colonial for Sale in Heath, Mass

Beautiful antique1780 Center-Hall Colonial with charming and period details throughout.  The interior of this home features an eat-in kitchen with woodstove, dining room, den, parlor, 4 fireplaces, 4 bedrooms, wood floors, attractive woodwork, raised paneling, moldings, pine floors and a walk-up attic.  It is well cared for and tastefully decorated.    It is surrounded by beautiful gardens, stonewalls, patio and mature maples.  This antique gem is listed on the National Historic Register and located in the center of Heath and near many recreational activities. $289,000