For all of the details and get town by town information, please view the full 1st Quarter 2017 Market Watch (pdf) for details! Here is a summary:
Strongest Residential Markets YTD
Adams, Lanesboro, Pittsfield, Richmond, Lenox, Lee, Great Barrington, Otis, Sheffield, and West Stockbridge
First quarter sales reflect positive market momentum. The dollar volume of real estate sales is up 3% and the number of transactions sold up over 9%. The number of residential homes, land parcels, condos and commercial properties sold in the first quarter rose compared to sales last year. The multi-family market was stable with the same number of sales as last year. The first quarter of 2016 was very robust, so the growth in 2017 continues a strong upward trend.
|1st Quarter||$ Sold||# Sold||$ Sold||# Sold|
The number of residential sales rose in all regions.
- Northern Berkshire had 42 home sales, 5 up from 41.
- Central Berkshire had 103 home sales, 5 up from 93
- Southern Berkshire had 87 homes sales, 5 up from 81.
The dollar volume transacted also showed positive gain, with sales topping $67 million in the first quarter. In the residential market, there were 232 sales of $55 million, the highest number of homes sold in the 1st quarter for the past 20 years tracked. The dollar volume of single family home sales fell 6% from the previous quarter even though sales hit record highs and were up 2% over last year. Condo and commercial sales have the largest increases in dollar volume sold.
Download the full 1st Quarter 2017 Market Watch (pdf) for details!
Last week we shared that on December 1, 2016 in Massachusetts, when homes built before 1975 are sold, the house must be equipped with smoke detectors with a 10-year life span (and if expired, replaced before permit will be issues)… and if battery powered, be equipped with sealed lithium batteries. The MA Fire Chief issued a letter that clarified that smoke alarms installed prior to December 1, 2016 that met requirements of existing regulations upon installation will continue to meet regulatory requirements of 527 CMR 1.00 and requirements for sale/transfer in accordance with M.G.L. c. 148, s. 26F until the devices are 10 years old or have exceeded the manufacturer’s recommended life. Fire Chief Letter. He also submitted a new consumer fact sheet for your use. Finally, attend the upcoming SOS member meetings to ask questions of our local fire inspectors!