2008 Year-End Figures Pioneer Valley Real Estate

Single Family Home Sales in the Pioneer Vally fared well in 2008 compared to the National average.Though the number of sales dropped 19% from 2007.
The Median Price only dropped 4.8%

Pioneer Valley

2007 . 2008

Closed Sales (Units) 4,891 ............ 3,963

Average Sales Price $236,124.......$222,193

Median Sales Price $210,000......$199,900.

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The following is the break down by County

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Franklin County

Sales volume drop 21.2% * Median price drops 8.8%

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2007 . 2008

Closed Sales (Units) 520 ............ 410

Average Sales Price $226,245.......$210,980
Median Sales Price $200,000......$182,500.

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Hampshire County

Sales volume drop 22.2% * Median price down 6.7%

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2007 . 2008

Closed Sales (Units) 1,804 ............ 843
Average Sales Price $297,363.......$281,359
Median Sales Price $268,000......$250,000.

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Hampden County
Sales volume drop 17.6% * Median price drops 4.2%

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2007 . 2008

Closed Sales (Units) 3,287 ............ 2,710
Average Sales Price $217,491.......$205,485
Median Sales Price $192,000......$184,000.

Happy New Year!

If a new home is in your plans for the New Year or if you are thinking of selling your home this year there is good news........... The interest rates are at record lows. There are programs for 1st time buyers and plenty of local banks and lending institutions willing to lend.
Be careful not to be confused and disoriented by the National News. Remember REAL ESTATE IS LOCAL. What is going on in Franklin County is different than the National average. Keep posted for the year in figures. They should be out soon. I think you will be pleasantly surprised!