NORTHAMPTON, Mass. (WWLP) – Nationally, home prices increased from last year at a slow rate. However, in western Massachusetts, Hampshire County sales and prices were much higher than in other counties.
In the past year, home sales increased in Hampshire County by 10 percent. That’s much higher than Franklin County’s 3.9 percent increase in sales, and Hampden County’s .6 percent decrease in sales.
22News went to Goggins Real Estate in Northampton to find out why the counties differ so greatly. According to President Patrick Goggins, “The average price in Hampshire County has always been consistently higher than the surrounding counties and I think that’s due a lot to the college influence that comes from the Five College area.”
Goggins said he’s noticing buyers and sellers are being more realistic with their pricing. He’s also finding that due to the economic recession, more people are opting to build additions to their home rather than try to sell it.
He predicts if the economy continues to improve, the housing market will also continue to improve in all western Massachusetts counties.