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Shelton-based luxury brokerage William Raveis Real Estate has planted its flag in Massachusetts’ Pioneer Valley region along the Connecticut River with the purchase of a local firm with offices in Northampton and Amherst.

The company announce Monday it had bought Jones Group Realtors for an undisclosed sum.

“Our alliance with one of the most respected firms in the Pioneer Valley is a big step forward in our expansion plan,” Chris Raveis, William Raveis’ president of residential sales, said in a statement that called the deal “a win-win for all agents and customers.”

The 65-year-old firm lists 50 agents on its website. Jones Group President and CEO Jerry Jones will be joining William Raveis along with his agents, but in a leadership role as a strategic growth coach and sales manager.

“As I got to know Chris and the team, I felt a strong connection. The company offers its agents outstanding marketing and technology resources, individualized career training, an extensive referral network, and a robust luxury program. Our team is thrilled to be part of an award-winning family company,” Jones said in a statement provided by William Raveis.

It’s just the latest high-profile instance of a smaller independent brokerage being absorbed by a much larger player in recent months, as the Massachusetts residential real estate sector continues to be squeezed by a severely depressed listing market creating opportunities for the state’s biggest brokerage brands to expand.

The Realtor Association of the Pioneer Valley reported that the number of homes for sale in the entire three-county area was down 36.1 percent year-over-year in September, to just 626 single-family houses and condominiums.

According to The Warren Group, publisher of The Commercial Record, combined condominium and single-family sales in the Pioneer Valley were down 19.4 percent year-to-date in September over 2022, and off 22.2 percent from 2019.