Agawam, MA

The market in this ZIP is currently very competitive, characterized by strong demand relative to supply, significantly reduced marketing times, and upward pressure on prices per square foot despite a decline in overall median listing prices. The pending ratio indicates a robust environment for sellers.

Median listing price has seen a notable decrease of 11.3% month-over-month and 19.8% year-over-year. However, active listings have increased by 56.5% year-over-year, and new listings have surged by 200.0% over the past year. The median days on market have dramatically fallen by 48.5% year-over-year to just 17 days, reflecting rapid absorption of available properties. The pending ratio has more than doubled, increasing by 203.6% over the past year to 2.17, underscoring intense buyer interest. Median price per square foot has risen by 11.2% year-over-year, suggesting underlying value appreciation.

The rapid reduction in median days on market, coupled with a significant surge in the pending ratio, indicates that sellers currently have substantial leverage in pricing and terms. Buyers face intense competition, necessitating swift decision-making. The increasing median price per square foot suggests that while overall listing prices may fluctuate, the value of space is appreciating, placing pressure on buyers to act decisively.

The average listing price is $336,462, which is higher than the median listing price of $329,975, indicating the presence of higher-priced properties influencing the average. The median price per square foot stands at $251.