According to MLS statistics more single family homes were sold in 2016 than in any year since I started keeping records in 1994. We had 199 sales in 2016. Back in 2005 and 2003 there were 198 sales in Holyoke. In 2015 there were 184 sales of single family homes. We had a low of 113 sales in 2008, which was the beginning of the downturn in the market.
The average sale price in 2016 was $178,717, which was practically the same as the $178,229 average sale price of 2015.
There has been a lot of talk in the national media about real estate sales and values. Here in Holyoke and in most of the area communities, the market does not necessarily follow the national market or even the market in the rest of Massachusetts. I think that is OK.
We have not yet regained the losses sustained in the econimic recession. Values were right around $200,000 in 2006 to 2008. We still have 12% more to make up. I think values are right around where they should be. Home prices were just way too high in 2008. Now, hopefully, we can experience a nice, slow sustained growth, which is much more healthy for the real estate market.
The year of 2017 will probably have a few less sales, but prices should remain the same with maybe a small increase. A healty market is much better than a hot market.