Why homes are remaining on the market for longer than usual in the Pioneer Valley
Jan 03, 2025
SOUTH HADLEY, Mass. (WWLP) - As we begin a new year, homes are remaining on the market for longer than usual here in the Pioneer Valley. 22News is working for you on what's behind this trend.
This trend is due to a combination of factors, including a surge in home prices and a selective buyer pool.Despite pending sales being up nearly 36 percent last November, the Pioneer Valley is seeing homes remain on the market for an average of 40 days, according to the Realtor Association of Pioneer Valley. The average median price for a single family home stands at $350,000.
"I think that buyers want to stay within a certain budget and a comfortable budget, and I think that homes hitting the market now, there are plenty of buyers out there, but the buyers want to make sure that they're going to be able to afford what they're buying. And so I think they're a little more selective," said Owner of ERA M. Connie LaPlante Real Estate,S teven LaPlante.
He says the months of January and February tend to be the slowest months for listings. Right now, there's roughly around 700 single homes available for sale in the pioneer valley, which is 14 percent lower than a year ago at this time.
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