October 2017 Single Family Sales Report Pioneer Valley sales up 20.6% Median price up 6% to $205,550

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1 News Release REALTOR ASSOCIATION OF PIONEER VALLEY, INC. The Western New England Center for Real Estate Services 221 Industry Avenue Springfield, MA phone toll-free fax Ben Scranton, RCE, e-pro Chief Executive Officer, 2017 Single Family Sales Report Pioneer Valley sales up 20.6% Median price up 6% to $205,550 Springfield, MA November 16, 2017 The REALTOR Association of Pioneer Valley reported today that single-family home sales in were up 20.6 percent compared to the same time last year. The median price was up 6 percent to $205,550. County reports vary. Pioneer Valley Franklin County Sales up 20.6% Median price up 6% Sales down 13.1% Median price down 13.1% Closed Sales (units) Closed Sales (units) Median Sales price $194,000 $205,550 Median Sales Price $199,000 $173,000 Hampden County Hampshire County Sales up 24.4% Median price up 3.6% Sales up 24.4% Median price up 1.9% Closed Sales (units) Closed Sales (units) Median Sales price $178,500 $185,000 Median Sales Price $265,000 $270,131 Source: 10K Research. Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of November 16, For editorial comment contact: Richard Sawicki, 2017 President Lou Mayo, Immediate Past President Ed Alford, President Elect Franklin County: Corinne Fitzgerald, Past President of the Massachusetts Association of Realtors or Hampshire County: Richard Sawicki, President, Mission To champion private property rights and advocate for our members Proper use of the trademark term REALTOR as stated in the Associated Press Stylebook is to capitalize the first letter R in the word with the trademark at the end of the word, such as Realtor All caps is also acceptable, such as REALTOR. REALTOR is a registered trademark which identifies a professional in the real estate industry who subscribes to a strict Code of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS. Report run on November 16, 2017 k:\newsreleases\2017statistics\2017

2 News Release REALTOR ASSOCIATION OF PIONEER VALLEY, INC. The Western New England Center for Real Estate Services 221 Industry Avenue Springfield, MA phone toll-free fax Key Points Pioneer Valley Single-Family Homes Sales Up 20.6 percent from 432 in 2016 to 521 in Median Price Up 6 percent from $194,000 in 2016 to $205,550 in Inventory of available property Inventory fell 24.7 percent from 2,303 single family listings at the end of 2016, to 1,734 single family listings at the end of Supply The supply of single-family properties on the market at the current rate of sale dropped 28.9 percent. At the end of 2016 there were 4.9 months of supply at the current rate of sale. At the end of 2017 there were 3.5 months of supply at current rate of sale. Days on Market The average days on market dropped 21.2 percent from 81 days in 2016 to 64 days in Pending Sales Listings which are pending (under agreement to sell) are up 21.1 percent from 475 in 2016 to 575 in Mortgage Rates 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.5 points for the week ending November 16, Last year at this time, the 30-year FRM averaged 3.94 percent with an average 0.5 points. (Source: About the REALTOR Association of Pioneer Valley: Organized in 1915, the REALTOR Association of Pioneer Valley is a professional trade organization with more than 1,800 members. The term REALTOR is registered as the exclusive designation of members of the National Association of REALTORS who subscribe to a strict code of ethics and enjoy continuing education programs. Report run on November 16, 2017 k:\newsreleases\2017statistics\november.2017

3 Local Market Update 2017 REALTOR Association of Pioneer Valley % + 5.3% Year-Over-Year Change in Closed Sales All Properties Year-Over-Year Change in Median Sales Price All Properties % Year-Over-Year Change in Inventory of Homes All Properties / / Pending Sales % 5,244 5, % Closed Sales % 4,889 5, % Median Sales Price* $194,000 $205, % $208, % Inventory of Homes for Sale 2,303 1, % Months Supply of Inventory % Cumulative Days on Market Until Sale % % Percent of Original List Price Received* 94.8% 95.9% + 1.2% 94.4% 95.7% + 1.4% New Listings % 7,209 7, % / / Pending Sales % % Closed Sales % % Median Sales Price* $165,000 $152, % $152,000 $160, % Inventory of Homes for Sale % Months Supply of Inventory % Cumulative Days on Market Until Sale % % Percent of Original List Price Received* 95.7% 96.7% + 1.1% 95.6% 95.7% + 0.1% New Listings % % Median Sales Price BASED ON A ROLLING 12-MONTH AVERAGE Entire State REALTOR Association of Pioneer Valley b a Entire State REALTOR Association of Pioneer Valley b a $100, A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point. All data from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS, Inc. and MLS Property Information Network, Inc. Provided by MAR. Report 2017 ShowingTime.

4 Local Market Update 2017 Franklin County Pending Sales % % Closed Sales % % Median Sales Price* $199,000 $173, % $204, % Inventory of Homes for Sale % Months Supply of Inventory % Cumulative Days on Market Until Sale % % Percent of Original List Price Received* 95.3% 94.7% - 0.6% 93.1% 94.1% + 1.1% New Listings % % Pending Sales % % Closed Sales % Median Sales Price* $0 $114, $135,400 $192, % Inventory of Homes for Sale % Months Supply of Inventory % Cumulative Days on Market Until Sale % Percent of Original List Price Received* 0.0% 98.3% % 94.5% + 0.5% New Listings % % Median Sales Price Franklin County Median Sales Price Franklin County $100,000 All data from the Berkshire County MLS, Cape Cod & Islands Association of REALTORS, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by ShowingTime 10K.

5 Local Market Update 2017 Hampden County Pending Sales % 3,541 3, % Closed Sales % 3,317 3, % Median Sales Price* $178,500 $185, % $180,000 $189, % Inventory of Homes for Sale 1,380 1, % Months Supply of Inventory % Cumulative Days on Market Until Sale % % Percent of Original List Price Received* 95.4% 96.5% + 1.2% 94.5% 96.1% + 1.7% New Listings % 4,751 4, % Pending Sales % % Closed Sales % % Median Sales Price* $147,000 $132, % $135,000 $135, % Inventory of Homes for Sale % Months Supply of Inventory % Cumulative Days on Market Until Sale % % Percent of Original List Price Received* 94.4% 95.7% + 1.4% 94.9% 95.0% + 0.1% New Listings % % Median Sales Price Hampden County Median Sales Price Hampden County $100,000 All data from the Berkshire County MLS, Cape Cod & Islands Association of REALTORS, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by ShowingTime 10K.

6 Local Market Update 2017 Hampshire County Pending Sales % 1,161 1, % Closed Sales % 1,096 1, % Median Sales Price* $265,000 $270, % $264,450 $272, % Inventory of Homes for Sale % Months Supply of Inventory % Cumulative Days on Market Until Sale % % Percent of Original List Price Received* 92.8% 95.3% + 2.7% 94.8% 95.3% + 0.5% New Listings % 1,649 1, % Pending Sales % % Closed Sales % % Median Sales Price* $171,900 $227, % $182,750 $209, % Inventory of Homes for Sale % Months Supply of Inventory % Cumulative Days on Market Until Sale % % Percent of Original List Price Received* 98.5% 97.9% - 0.6% 97.1% 96.8% - 0.3% New Listings % % Median Sales Price Hampshire County Median Sales Price Hampshire County $375,000 $325,000 $275,000 $225,000 All data from the Berkshire County MLS, Cape Cod & Islands Association of REALTORS, Inc. and MLS Property Information Network, Inc. Provided by MAR. Powered by ShowingTime 10K.