home sales

What's with the Low Inventory of Homes for Sale in Northampton?

LOW INVENTORY OF SINGLE FAMILY HOMES FOR SALE

According the the MLSPIN (Pioneer Valley chapter of MLS), there were 61 single family homes listed for sale between March 1st and May 1st of 2016 alone. Here we are in mid April of 2017, and there are only 45 single family homes on the market in Northampton. Some of these are new construction opportunities, and some are already under agreement. 

Pictured Above, 32 Liberty Street in Northampton, MA

Agents within our office have anecdotes of packed open houses, with multiple offers being submitted and buyers being outbid on the few houses that have come on the market this spring. This article from realestate.boston.com confirms that housing inventory in Massachusetts is at an all-time low.

Whatever the factors are behind the dearth of new single-family listings - the fact is that now is a great time to sell! Buyers are eager to buy, interest rates are still low. So, if you are a seller thinking about possibly selling your home - the first step is to reach out to your agent to find out what our opinion of market value would be. There is no question that the demand is high, and many houses are selling for above asking price in this climate. Contact us today to set up your comparative market analysis!

45 Spaulding Street, Amherst MA

Charming, updated 5 bedroom farmhouse, spacious and beautiful yard with lovely plantings, heated workshop/studio. All of this just a stone's throw from Amherst center! Our listing at 45 Spaulding Street is a gem of a home. Listing agent Scott Rebmann with be hosting an open house this Sunday, September 11th from 12-2 pm. Come take a look! A home this special will not last long!

45 Spaulding Street, Amherst MA

View from the street

Cozy side porch

Updated farmhouse eat-in kitchen

Master bedroom

Adjacent studio/loft

 

Beautifully sited on a nearly 1/2 acre lot, this classic farmhouse has retained its period charm while having today's modern updates. A gorgeous side sunporch welcomes you into the expanded dining room/kitchen area, updated with new cabinets, a farmhouse sink and lovely butler's pantry. Beautiful hardwoods lead you to the living room and a bedroom/office and updated bath round out the main floor. Upstairs are 4 additional bedrooms and a hall bath. The rear deck overlooks the beautiful yard with perennial gardens and fruit trees. There's also a heated studio space with a loft, perfect for the artist, writer, or entrepreneur. Do you want chickens? There's even a newer chicken coop! The updates are numerous...newer slates on the roof with copper flashing, new kitchen/dining room, new upstairs windows, new insulation, new gas boiler and radiators...the list goes on and on. All of this and you're just moments from all of the shopping, dining and entertainment venues of downtown Amherst! Offered at $425,000. 

Spring Real Estate Market Stats

We are in the midst of our Pioneer Valley and Northampton MA area spring real estate market. Since it is widely known that more inventory of houses and condos for sale tend to become available starting in March in the Northampton, MA area -- we Realtors often find ourselves in conversations with friends, family and clients wondering "how is the market?".  To that end, I have included a blog post below from the Massachusetts Association of Realtors (MAR) with statistics to address this widely asked question. 

While it seems home sales are on the rise, inventory has continued to dwindle. This suggests that homeowners are choosing to stay put and make improvements to their existing homes, rather than selling and moving into newer homes, thus leading to less inventory available to new home buyers.
 
For you stats lovers, read on for more info about real estate sales in Massachusetts.
 
 
 

March Closed Home Sales Hit another High for the Month

by Eric Berman - eberman@marealtor.com - 781-839-5507 | Apr 26, 2016

The number of homes for sale still down despite increase in new listings 

added to the market

 

WALTHAM, Mass. - April 26, 2016 - The Massachusetts Association of Realtors® (MAR) reported today that heavy buyer activity in the first quarter pushed March closed home sales to a new high for the month. Median prices were back up after ticking down in February for the first time in nine months. Condominium sales also closed up with median prices essentially flat from 2015.

March Closed Sales:

Single-Family

March 2016

March 2015

%Change

Sales

3,452

2,801

+23.2%

Median Price

$329,505

$320,000

+3.0%

  • Most closed sales in the month of March since 2004
  • Closed sales have been up 14 out of the last 21 months
  • Median prices have been up for the 11 out of the last 12 months
 

Condominium

March 2016

March 2015

%Change

Sales

1,429

1,145

+24.8%

Median Price

$307,900

$307,000

+0.3

  • Most closed sales in the month of March since 2007
  • Closed sales have been up or flat nine of the last 13 months
  • Median prices have been up eight out of the last 12 months

"March has proved again this year that buyer activity in the first quarter of this year and the last few months of last year was very, very strong," said 2016 MAR President Annie Blatz, branch executive at Kinlin Grover Real Estate in Brewster. "We've seen a good increase in the number of new listings added to the market and it's a trend we really need to continue as were still faced with an ongoing shortage of homes."

 Inventory and Days on Market

Single-Family

March 2016

March 2015

%Change

Inventory

15,442

17,729

-12.9%

Months of Supply

3.1

4.4

-29.5%

Days on Market

117

127

-7.9%

New Listings

8,296

6,343

+30.8%

  • 50th straight month of year-over-year inventory decreases 

Condominium

March 2016

March 2015

%Change

Inventory

4,306

4,900

-12.1%

Months of Supply

2.3

3.0

-23.3%

Days on Market

85

98

-13.3%

New Listings

2,971

2,551

+16.5%

  • 63rd straight month of year-over-year inventory decreases

About the Massachusetts Association of Realtors®: 

Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 22,000+ members.  The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.  

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