Amherst, MA

The housing market in this ZIP code is currently demonstrating accelerated dynamics, characterized by a significant year-over-year increase in pending listings and new listings, despite a decline in median listing price. The pending ratio of 0.73 indicates strong recent activity relative to available inventory.

Over the past year, new listings have surged by 300.0%, and active listings have risen by 82.1%, substantially increasing available inventory. Concurrently, pending listings have shown robust growth, increasing by 51.1% year-over-year. The median listing price has declined by 13.9% year-over-year, while the median price per square foot has risen by 10.2% over the same period. Median days on market increased by 16.3% year-over-year to 50 days, and the share of price-reduced listings saw a modest 2.6% year-over-year increase, reaching 11.7% currently.

The substantial year-over-year increase in new listings and active listings, coupled with a high pending ratio, suggests a market with increasing supply being met with robust absorption. While the median listing price has experienced a year-over-year decrease, the significant growth in pending listings indicates a competitive environment for available homes. The slight increase in median days on market and price-reduced share suggests that while demand is strong, buyers are exercising some price discipline.

The average listing price of $647,940 significantly exceeds the median listing price of $590,000, indicating a notable presence of higher-value properties within the market. The median price per square foot of $321 provides a baseline, with luxury segments likely commanding a premium above this figure, influencing the average listing price trajectory that has decreased by 16.7% over the past year.