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.

Read the full report.  County reports will vary.

 

 

 

Posted by: RAPV | March 27, 2014

President Obama Signs Law Curbing Flood Hikes

NAR-backed legislation limiting how much flood insurance premiums can rise per year was signed into law last week. Premium hikes are limited to 25 percent a year and the federal government must reimburse homeowners who have seen excessive premium hikes. The law also takes aim at inaccurate rate hikes. The entire MA congressional delegation supported the legislation. In a statment, NAR President Steve Brown thanked REALTORS® for their 300,000 letters to lawmakers urging passage.

Posted by: RAPV | March 19, 2014

Congress Passes Bill to Slow Flood Insurance Hikes

NAR-backed legislation that puts the brakes on skyrocketing flood insurance premium hikes passed Congress last week and is expected to be signed by President Obama. The “Homeowner Flood Insurance Affordability Act,” H.R. 3370, generally limits any annual increase to 18 percent on newer homes and 25 percent on some older ones. The bill also charges a temporary assessment to help the Federal Emergency Management Agency (FEMA) improve its financial picture. Summary.

Posted by: RAPV | March 11, 2014

Feb real estate sales for Pioneer Valley (MA)

February 2014 home sales were down for the second straight month.  There were 211 single-family homes sold in February, a 5.8 percent decrease from the 224 sold the same time last year.  Median price closed up for the second straight month.  The median selling price was $170,000 which was up 2.6 percent from $165,750 in February 2013.  Inventory of SF-homes decreased 1.2 percent.  Buyer demands for homes pushed pending sales up 8 percent in February.

Read the complete report.  County numbers will vary. 

Posted by: RAPV | March 6, 2014

Real Estate and Economic Outlook

Dr. Lawrence Yun, NAR Chief Economist and Senior VP of Research, made a presentation at NAR’s New England Regional Committee Conference on Feb 27.  The presentation, Real Estate & Economic Outlook, includes a national overview and data specific to the six New England states. Excellent material.

Posted by: RAPV | January 24, 2014

4 strategies to hit your profitability goals in 2014

Inman News has an interesting article, “Hit production goals in 2014 by ditching least profitable activities” to help you with your 2014 business plans. Four great tips here.

Posted by: RAPV | January 16, 2014

2013 real estate sales for Pioneer Valley (MA)

Single family sales up 2 percent
Median price up 5.3 percent to $188,000
Condo sales up 14.7 percent
Median price dips .2 percent to $147,000
County reports vary.

2013 single family sales report
2013 condo sales report

Organized in 1915, the Realtor Association of Pioneer Valley is a professional trade organization with more than 1,600 members serving Hampden, Hampshire and Franklin counties in the Pioneer Valley of western Massachusetts.

New mortgage lending rules to protect consumers from risky loan products take effect Friday, Jan. 10, 2014.  What does this mean for the market?  Take a look at comments by NAR Pres-Elect Chris Polychron and Consumer Financial Protection Bureau Director Richard Cordray at an event held this week.

November home sales in the Pioneer Valley declined 7.3% compared to November 2012.  The November median price rose 0.6% from $178,950 to $180,000.  Year-to-date (Jan-Nov) sales rose 1.6%.  Year-to-date median price rose 6.2% to $189,000. 

The Massachusetts Association of Realtors reported November sales down 8.9% statewide.  The median price rose 7.3% to $316,500.

Pioneer Valley report.
Statewide report

Posted by: RAPV | December 26, 2013

NAR Economist Details 2013 Housing Trends

According to Lawrence Yun, chief economist for NAR, there were a few surprises in the national housing market in 2013.  Read all about it.

Single family sales rose 2 percent in September – from 395 sales in September 2012 to 403 last month.

The median price rose 10.5 percent from $172,000 to $190,000.

Inventory dropped 4.3 percent.

County reports vary.

Posted by: RAPV | August 12, 2013

July SF sales climb 17.7%. median price up 8.9%

July2013

July 2013 Single Family Sales Report for Pioneer Valley (MA)
- Sales climb 17.7% after a drop in June
- Median price climbs 8.9%. Nineth consecutive monthly increase.
- Inventory down 10%
- County reports vary.

The sale of single family homes in the Pioneer Valley (MA) rose 1.2 percent in May – from 420 units in May of 2012 to 425 last month. The median price jumped 11.6 percent during the same time period – from $178,250 to $199,000.

The report tracks closed sales, dollar volume, average and median price for the Pioneer Valley region, and separately for Franklin, Hampden and Hampshire counties. County reports vary.

Read the entire report here.

‘Good Time to Buy or Sell’ is the lead line in Channel 22′s coverage of the MAR Realtor Day on Beacon Hill held June 6.  The 2 minute story includes comments by MAR President Kimberly Allard-Moccia, RAPV President Brian P. Sears, and Corinne Fitzgerald, Immediate Past President.  Fifteen members and staff traveled to the state house to participate.  Members meet personally with 11 lawmakers and staff of another 4 offices.  Those attending: Carolanne Bright, Cyndie Degan, Corinne Fitzgerald, Shelley Gutowski, Dawn Henry, Lou Mayo, Pat Nolan, Brian Risler, Gerry Roy, Russ Sabadosa, Rick Sawicki, Ben Scranton, Brian Sears, Kevin Sears, and Steve Snow.

Watch the coverage here: http://j.wwlp.com/c72b6

April Single Family Sales in Pioneer Valley

  • Sales drop 12.6%
  • Median price jumps 12.5%
  • Inventory of available property down 12.3%
  • Listings under agreement increase 21.5%

County reports vary.

To read the full report, click here.

March Single Family Sales Report
• Pioneer Valley sales drop 10.3%
• Median price up 1.8% to $178,000
• Inventory down 15%

Detailed report.

Statewide
• SF sales decrease 3.3%
• Median up 7.8% to $269,000
• Inventory drops 29.8%

Posted by: RAPV | April 17, 2013

1st quarter single family sales report

Pioneer Valley (MA) sales report

  • Sales up 0.6 percent
  • Median price climbs 2.5 percent to $168,000
  • Inventory of available property drops 15 percent
  • Days on market tighten
  • Listings under agreement drops 12.9 percent

County reports vary.

Read complete report.

  • Pioneer Valley sales slip 0.9 percent, from 223 in Feb 2012 to 221 in Feb 2013. 
  • Pioneer Valley median price up 7.1 precent to $166,000 from $155,000 in Feb 2012.

Read full report  
Includes inventory, supply, days on market, and listings under agreement.  Includes individual reports for Franklin, Hampden and Hampshire counties.

Posted by: RAPV | February 14, 2013

January sales and median price up in Pioneer Valley

Pioneer Valley (MA)

  • Sales of single family homes rose 15.6 percent – from 238 in January 2012 to 275 in January 2013.
  • The median price rose 1.6 percent from $160,400 in January 2012 to $163,000 in January 2013.

Reports vary for Franklin, Hampden, Hampshire counties.

Read the complete sales report which includes inventory, supply, days on market, and listings under agreement.

2012 Real Estate Sales Report – Pioneer Valley

  • Sales of single family homes rose 17.6 percent when compared to the 2011 figures (from 3,868 to 4,551 homes)
  • SF median price was $178,500, down 0.8 percent from $180,000 in 2011
  • Condo sales up 5.6 percent (591 to 625 units)
  • Condo median price up 0.5 percent from $147,000 to $147,500

RAPV SF report
RAPV Condo report
Both reports include a breakout of Hampden, Hampshire and Franklin counties.

  • The Massachusetts Association of Realtors report SF sales up 21 percent (from 38,146 to 46,312 homes) and median price up 1.0 percent (from $295,000 to $298,000).  Condo sales jump 22 percent (from 14,758 to 18,045) and price rose 4 percent from $270,000 to $282,000. 

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