Shelburne Falls, MA

The housing market in ZIP Code 01370 is currently Cooling. The pending ratio has increased over the past year, yet overall inventory has also doubled. The median listing price has seen a notable year-over-year decrease, and price reductions are occurring on more than one-fifth of listings, indicating a shift in market dynamics.

Active listings have doubled year-over-year, reaching 8 properties, despite a lack of new listings in the most recent month. The median listing price has declined by 11.8% over the past year, now standing at $485,000. While the median days on market have decreased by 17.0% year-over-year to 44 days, indicating some transactional velocity, the share of price-reduced listings has risen to 21.1%. The pending ratio currently stands at 0.38, representing a 25.0% increase year-over-year, which suggests some sustained buyer interest relative to active inventory.

With the pending ratio increasing year-over-year alongside a doubling of active listings, the market is exhibiting characteristics of Cooling. While properties are moving off-market at a slightly faster pace than previously, the significant year-over-year decline in median listing price and the prevalence of price reductions suggest that sellers are adjusting expectations. This environment indicates increased options for prospective buyers and a need for greater price discipline among sellers to secure transactions.

The average listing price of $484,738 is nearly identical to the median listing price of $485,000, indicating a relatively uniform distribution of property values without a significant high-end skew. The median price per square foot is $234, representing a substantial 25.9% year-over-year decrease.