Belchertown, MA

The housing market in this ZIP code is currently in an accelerated phase, characterized by significant year-over-year growth in inventory and a strong increase in the pending ratio. While median listing price growth has seen a modest deceleration month-over-month, the overall trend points to sustained upward pressure on prices.

Active listings have expanded substantially, increasing by 123.5% over the past year, while new listings have also seen a considerable rise of 150.0% year-over-year. The pending ratio stands at 0.50, representing a notable 26.5% increase compared to the prior year, indicating a healthy absorption of available properties. The median listing price has increased by 7.9% year-over-year, despite a slight -0.4% month-over-month adjustment. Median days on market have decreased by -8.1% year-over-year to 40 days, suggesting a quicker pace of transactions. Median price per square foot has also seen an 11.1% increase over the past year.

The accelerated pace of inventory absorption, evidenced by the elevated pending ratio and reduced days on market, suggests that purchasers face a competitive environment. While new and active listings have increased, the strong demand indicated by the pending ratio implies continued pressure for buyers to act decisively. For sellers, the market dynamics currently favor price discipline, with properties moving relatively quickly and sustained year-over-year price appreciation.

The average listing price of $683,236 is notably higher than the median listing price of $579,900, indicating a significant luxury segment within the market. This segment appears to be outperforming, with the average listing price showing a 21.2% year-over-year increase, substantially exceeding the 7.9% growth in the median listing price. The median price per square foot currently stands at $275.