By Sandy Carrol

Despite reports in the national news, year-to-date Berkshire real estate sales are showing increases from the previous year.  Overall the market has slowed after highs in June.  Based on August 25 sales statistics, it seems that total number of sales in August will be down from 2009 levels, but dollar volume transacted could be close to the same, with $18.8 million already transacted this month in Berkshire County home sales.

 

The sales statistics comparing the first seven months in 2009 with 2010 (Jan-July) show a positive increase in all of our predictive factors for residential sales:  number of homes on the market (up 10%); dollar volume transacted in residential sales (up 22%); number of homes sold (up 13%); number of homes under agreement (up 11%) and rising median prices (up 8%), for all three regions in Berkshire County.

 

Southern Berkshire is showing the largest improvement over last year from any other location in the county.  Inventory levels are the most constant when comparing July 2009 with 2010.  There was a 5% increase in inventory with 1161 single family homes on the market for sale, but the northern and central regions saw a jump of 20% and 12%, respectively.  While June sales were much higher than the previous year, July sales were down.  Comparing January-July 2009 with 2010, the total number of southern Berkshire homes under contract was up 19%, number sold up 22% and dollar volume transacted up 30% from the previous year.   Median sale price is now at $282,500, up 2% from $275,000.

 

Central Berkshire is showing modest improvement over last year January-July statistics.  Inventory levels at the end of July were up 12% over the previous year, with 932 single family homes on the market for sale. The inventory in central Berkshire represents 36% of the market, yet 44% of the sales, which is a strong indicator of supply not exceeding demand. While June sales were much higher than the previous year, July sales were down.  Comparing January-July 2009 with 2010, the total number of central Berkshire homes under contract was up 4%, number sold up 5% and dollar volume transacted up 13% from the previous year.   Median sale price is now at $170,000, up 6% from $159,900.

 

Northern Berkshire is showing significant improvement over last year January-July statistics.  Inventory levels at the end of July were up 20% over the previous year, with 466 single family homes on the market for sale. Unlike the central and southern Berkshire markets, sales in Northern Berkshire were higher than the previous year in both June and July.  Comparing January-July 2009 with 2010, the total number of northern Berkshire homes under contract was up 18%, number sold up 15% and dollar volume transacted up 18% from the previous year.   Median sale price is now at $140,750, up 1% from $138,750.  While all parts of Berkshire has diverse housing stock in both price and style, northern Berkshire is, on average, the most affordable of the county.