Let's take a closer look at the recent market. In this article I will focus on single family homes. There were 7 closed sales in December, 12 in January, 8 in February and 7 in March. Holyoke has averaged approximately 12-15 sales per month historically. As you can see the market was a bit slow but not terrible. In the year 2013 we saw 151 sales at an average sale price of $171,341 which was a 7% increase over 2012. The average days on market was 122, down from 147 the prior year. All signs of an improving market.
In the last 6 months there have been 60 sales at an average sale price of $155,261, in an average of 122 days. Even though the average sale price is less, I do not think that it is representative of the market as a whole. I can base this assumption on the 27 homes that are currently pending sales, that have an average list price of $186,696. This is showing that more higher priced homes are selling.
So far in the first 10 days of April there have been 12 new listings, bringing the total homes on the market to 65. During the slow period a few years ago we had as many as 110 homes on the market. A healthy number is probably around 75 active listings and a days on market of less than 100.
For those thinking of entering the real estate market there are a number of steps to take to prepare your home for the market. This spring looks promising, contact one of our agents for more information and help with buying or selling your next home. Click here for a free market analysis. to see how much your home is worth.