Chicopee, MA

The housing market in this ZIP Code is currently very competitive, characterized by a low supply of homes and a quick sales pace, despite some price adjustments.

The most recent data indicates a significant increase in active listings year-over-year at 200.0%, while new listings have decreased by 50.0% over the same period. The median listing price shows a modest year-over-year decline of 1.0% and a month-over-month decrease of 1.6%. Median days on market have surged by 853.9% year-over-year, reaching 31 days. The pending ratio stands at 1.67, representing a 16.7% year-over-year increase, signaling strong buyer interest relative to available inventory. The median price per square foot has risen by 7.4% year-over-year, reaching $241.

The substantial year-over-year increase in the pending ratio, coupled with a significant decline in new listings, suggests a market where buyers face considerable competition for available properties. The rapid pace of sales, as indicated by the low median days on market, further restricts buyer negotiating leverage. While median listing prices have seen slight declines, the upward movement in median price per square foot suggests that price discipline remains firm for properties that convert to sale.

The average listing price of $232,850 is only slightly above the median listing price of $228,675, with a spread of $4,175. This narrow differential indicates a relatively uniform market without a distinct luxury segment driving price disparities. The median $/sqft of $241 further supports this observation, suggesting a consistent valuation across properties in this ZIP Code.