Do Presidential Elections Impact Real Estate in Western Massachusetts and Beyond?

The simple answer is yes, but probably not in the way you think. Real estate transactions tend to taper off in an election year as people wait to see the results before they feel comfortable making a large decision like buying or selling real estate. During an election year, many people are watching to see how the candidates might help to reduce interest rates, improve the lack of inventory, and add affordable housing.

The amount of impact varies depending on which expert opinion you read and can also be very geographic in nature.

Many people do not understand that the President does not have immediate control over interest rates and must have the cooperation of the Senate and Congress to make any large changes that impact housing. Matt Myre of BiggerPockets did some analyzing on this topic and wrote: “It turns out that I could not find much evidence suggesting that the housing market moves in one way or another based on election years. The stock market tends to react. Bond yields sometimes. But not housing.” Source article.

With the consent of the Senate, the President does have the power to appoint members of the Federal Reserve, but the Federal Reserve is an independent agency. Keep in mind that the central bank has the power to raise, lower, or maintain interest rates without approval from the legislative or executive branches. Therefore, a president cannot do anything to prevent the Fed from raising rates.

What is the takeaway here? Well, do your research, but there doesn’t seem to be any historical proof that an election or a new President significantly impacts the real estate market. As I always say, the right time to buy or sell real estate is when you want or need to buy or sell real estate.

So, the impact that an election year has on the real estate market is circumstantial and based on people’s opinions, but not statistically proven in any large way.

As always, if you have any real estate questions, I am always here to help!

Lesley Lambert, Western Massachusetts REALTOR with Park Square Realty, 413-575-3611 or realestate.lesleylambert@gmail.com

Adorable! #westernma #westfield #realestate (Photo credit: LesleyLambert)

The average sale price of homes sold by Park Square this year to date has increased to $197,214. Last year in the same period, our average sale price was $173,739, so we are up $23,475.

In 2013, the average days on market for single family homes that have gone under agreement is down to 53 days, with many homes going under agreement in a matter of days and weeks.

The market has turned dramatically among all the price ranges which you can see with the list of Park Square listings below that are presently under agreement:

Single Family Homes

Status Address Price __

UAG 84 Spencer Street Agawam, MA $179,000

UAG 56 Emerson Road Agawam, MA $189,900

UAG 57 Hastings Street Agawam, $204,900

UAG 34 Corey Street Agawam, MA $225,000

UAG 7 Marla Agawam, MA : $278,000

UAG 15 Allison Lane Agawam, $299,900

UAG 20 Lenox Circle East Longmeadow, $315,000

UAG 59 Lynch Drive Holyoke, MA $169,900

UAG 2 Lynn Ann Drive Holyoke, MA $250,000

UAG 22 Fuller Ludlow, MA $129,900

UAG 124 Woodland Circle Ludlow, MA $369,900

UAG 71 New State Road Montgomery, $210,000

UAG 99 Richview Ave South Hadley, $157,900

UAG 3 Beach Road Southwick, $117,900

UAG 61 Long Pond Rd Tyngsborough, MA $238,500

UAG 31 Sunnyside Street West Springfield, MA $124,900

UAG 131 Queen Avenue West Springfield, MA $169,900

UAG 76 Greystone Ave West Springfield, MA $174,900

UAG 70 Nonotuck Road West Springfield, MA $248,900

UAG 22 Havenhurst Road West Springfield, MA $284,900

UAG 6 Madison Street Westfield, MA $113,000

UAG 7 Springdale Street Westfield, MA $144,900

UAG 46 Western Circle Westfield, MA $169,900

UAG 114 Joseph Avenue Westfield, MA $179,900

UAG 29 Joseph Ave Westfield, MA $183,500

UAG 120 Roosevelt Ave Westfield, MA $183,500

UAG 308 Northwest Road Westfield, $189,500

UAG 95 Honey Pot Road Westfield, $189,700

UAG 63 Robinson Dr Westfield, MA $199,000

UAG 38 Lindbergh Blvd Westfield, MA $199,900

UAG 175 Pontoosic Road Westfield, MA $205,000

UAG 45 Southview Terrace Westfield, MA $224,999

UAG 86 Pine Street Westfield, MA $275,000

UAG 119 Eastwood Dr Westfield, MA $289,900

UAG 83 Pineridge Dr Westfield, MA $374,900

Average Days on Market: 53 Days

Condominium Listings

Status Address List Price

UAG 80 Damon Road U:2207 Northampton, MA $85,000

UAG 52 Rosewood U:52 Southwick, MA $154,900

UAG 80 Brush Hill Ave. U:71 West Springfield, MA $89,900

UAG 324 Russell Road U:#103 Westfield, MA $59,900

UAG 362 Granville Road U:215 Westfield, MA $147,900

Average Days on Market: 64 Days

Multi-Family Listings

Status Address List Price

UAG 57 Northampton St Easthampton, $174,900

UAG 2 Pine Street Huntington, MA $199,000

UAG 23-25 Maple Ave. Northampton, $399,900

UAG 487-489 Kings Highway West Springfield, $149,900

UAG 17 Curtis Street Westfield, MA $99,900

UAG 10 Conner Avenue Westfield, $153,000

UAG 29 Woodmont Street Westfield, MA $172,000

UAG 5 Fowler Street Westfield, $179,900

Average Days on Market: 27 Days

If you are thinking of making a move, now may be the right time! We have buyers who have not been able to find the right home because there isn’t enough inventory out there. I specialize in marketing and selling residential real estate and would love to interview for the position of your real estate agent! Lesley Lambert, Park Square Realty 413-575-3611

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