North Adams, MA

The ZIP code is currently experiencing a cooling trend, characterized by an increase in inventory and a decline in the pending ratio, indicating a moderation in market activity despite some price growth.

Active listings have seen a substantial year-over-year increase of 32.4%, alongside a 33.3% rise in new listings over the past year, suggesting an expanding supply. The median days on market has also extended by 26.7% year-over-year, indicating homes are taking longer to find buyers. The pending ratio stands at 0.38, reflecting a significant year-over-year decrease of 9.3%, which points to slowing demand relative to available inventory. While the median listing price has increased by 5.7% year-over-year and 6.9% month-over-month, the median price per square foot has decreased by 2.3% over the past year. The share of price-reduced listings has risen by 5.5% year-over-year to 19.1%.

The notable increase in active and new listings, combined with an extended median days on market and a reduced pending ratio, suggests that negotiating leverage is shifting. The rise in price-reduced listings indicates growing pressure on pricing discipline as inventory expands and the pace of transactions moderates.

The average listing price of $356,709 significantly exceeds the median listing price of $272,500, with a year-over-year increase of 10.1% for the average price, indicating a segment of higher-priced properties in the market. The median price per square foot is $189.