Longmeadow, MA

The housing market in this ZIP code is currently Very Competitive. The pending ratio at 0.91, up 60.6% year-over-year, indicates robust demand relative to supply. While the median listing price shows a recent monthly decrease of 4.7%, it has appreciated significantly by 12.7% over the past year. Active listings have risen by 60.0% year-over-year, reaching 32, yet strong absorption rates persist.

The market maintains a Very Competitive posture. The pending ratio has surged to 0.91, representing a substantial 60.6% increase over the past year, reflecting intensified buyer activity. Median listing price trends show a notable 12.7% increase year-over-year, despite a month-over-month contraction of 4.7% in the most recent period. Active listings have seen a considerable year-over-year expansion of 60.0%, now totaling 32 units, yet the elevated pending ratio suggests these new listings are being absorbed quickly. Median days on market increased by 16.7% year-over-year, reaching 35 days, while the share of price-reduced listings is 18.2%, up 3.4% over the past year, potentially indicating some calibration in pricing expectations at certain segments.

The current market dynamics suggest that buyers face a competitive environment, characterized by a high pending ratio of 0.91. This indicates limited available inventory relative to the pace of transactions, placing pressure on the speed of decision-making. While the year-over-year increase in active listings suggests some expansion of choice, the strong pending activity implies that buyers may encounter multiple offers or need to act decisively. Sellers, in turn, benefit from this demand, which contributes to maintaining price discipline and supporting the overall market velocity.

The average listing price of $712,484 surpasses the median listing price of $664,500, indicating a meaningful presence of higher-priced inventory within the market. The median price per square foot currently stands at $266, having increased 2.7% over the past year, with properties offering a median of 2,441 square feet.