Holyoke, MA

The market in Holyoke, MA (ZIP 01040) is currently classified as Very Competitive, driven by a significantly elevated pending ratio despite a contraction in available inventory. While pricing signals present a mixed picture, the strong demand indicated by pending activity suggests a market favoring efficient transactions.

The pending ratio stands at 1.43, representing a substantial year-over-year increase of 109.2%. This surge in demand is occurring while active listings have declined by 21.6% year-over-year to 20 units, and new listings have decreased by 25.0% over the past year to 18 units. The median listing price has seen a month-over-month decrease of 7.5% and a year-over-year decrease of 1.3%, settling at $314,500. Median days on market have slightly risen by 2.0% year-over-year to 39 days, and the price-reduced share has seen a modest year-over-year increase of 1.3% to 8.9%. The median price per square foot has also contracted by 2.5% over the past year to $207.

The exceptionally high pending ratio indicates significant pressure on existing inventory, suggesting a rapid pace of transactions. While overall pricing shows some softness year-over-year, the strong demand environment for available properties implies that competitively priced listings are likely to attract substantial interest, limiting the ability of buyers to negotiate on price and terms. Sellers capable of accurately pricing their properties for the current demand environment are likely to achieve more favorable outcomes.

The average listing price of $386,931 significantly exceeds the median listing price of $314,500, indicating a segment of higher-priced properties in the market. The median price per square foot is $207, demonstrating price points within the broader market. The year-over-year increase of 8.6% in the average listing price suggests some upward movement in the upper end of the market, even as the overall median listing price has declined.