SALES - March 2014 home sales dropped 19.3 percent in the 3-county Pioneer Valley area (MA). There were 242 sales this March compared to 300 in March 2013. March capped off a storm-ridden winter which impacted the number of closed sales. The addition of new mortgage financing regulations also had an impact to delay some closings.
MEDIAN PRICE – The median price was $184,750 which was up 4.2 percent from $177,250 in March 2013. This is the third straight month of median price increases.
PENDING SALES - Listings under agrement to sell are up 28 percent, from 385 in March 2013 to 493 in March 2014. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale is usually finalized within one or two months of signing.
INVENTORY of available property for sale increased 4 percent.
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