Chicopee, MA

The Chicopee housing market currently exhibits very competitive conditions, driven by a strong pending ratio and significant year-over-year growth in pending listings. While some metrics suggest a stabilization in pricing, the overall competitive landscape indicates sustained demand.

The most recent data indicates a median listing price of $342,400, reflecting a modest month-over-month decline of 1.9% but a year-over-year increase of 3.7%. Active listings have shown a year-over-year increase of 9.4%, reaching 18, alongside a notable 27.3% year-over-year rise in new listings to 28. Median days on market have extended significantly to 27, an 87.9% increase over the past year. However, the price-reduced share has decreased by 18.0% over the past year, currently at 5.1%. The pending ratio stands at 2.14, a substantial year-over-year increase of 179.9%, with 38 pending listings.

The substantial pending ratio of 2.14, coupled with a significant year-over-year increase in pending listings, suggests that inventory is under considerable pressure. This environment indicates that buyers are facing a fast-paced market. While the increase in median days on market might suggest some easing, the strong pending activity points to limited room for price discipline on the part of sellers.

The average listing price of $361,293 is moderately higher than the median listing price of $342,400, indicating a segment of properties listed above the median. However, the median price per square foot across all listings is $232, demonstrating a year-over-year decrease of 6.5%.