Southwick, MA

The market in ZIP 01077 exhibits accelerated conditions, characterized by notable increases in active listings and a strengthening pending ratio over the past year. While the median listing price experienced a recent month-over-month decline, its annual growth remains positive, supported by a healthy average listing price. The market continues to absorb available inventory at an increased pace.

Active listings have significantly expanded, registering a substantial 420.0% increase over the past year, reaching 26 units. New listings also rose by 50.0% year-over-year to 12. Median days on market extended by 115.8% annually, now standing at 41 days, indicating a slower pace of transaction compared to the prior year. The pending ratio improved by 21.5% year-over-year, now at 0.62, with 16 pending listings against 26 active listings. Despite a month-over-month decrease of 9.4% in the median listing price to $575,000, the annual change remains positive at 3.6%. The average listing price also shows a 2.1% annual increase, currently at $605,458. The median price per square foot saw a modest annual decline of 3.0%, settling at $272.

The increasing pending ratio and robust annual growth in active listings suggest a market where new inventory is being absorbed at an accelerating rate. While inventory has grown significantly, the sustained pending activity indicates that pricing remains largely disciplined, even with a longer median days on market. This implies a competitive environment for properties that meet buyer expectations, with some room for negotiation given the rise in available homes and a slight increase in properties with price reductions, currently at 19.5%.

The average listing price of $605,458 exceeds the median listing price of $575,000, suggesting a segment of higher-priced properties influencing the overall market valuation. The median price per square foot currently stands at $272.