As we’re compiling our 2013 year end market watch, we’re asking all REALTORS to report sales, pendings and market status updates as soon as possible so that our report is as fresh and accurate as possible. The report will be released at the end of January. The interim monthly reports produced by the Mass Association and third quarter Market Watch are available online as well.
Want a sneak peak with the sales already reported?
Overall, inventory is down 3% over 2012, the number of sales is up 10% and dollar volume transacted is up 12% countywide. The median sales prices also rose by a modest 2% overall. While central and southern Berkshire reported healthy gains this past year, North county lagged behind 2012 sales rates.
- Residential highlight: So far, we see that residential inventory is down countywide by 4%, and residential sales up are 5%. Central showed the biggest gains, with a 11% increase and south with an 5% increase over the number of sales in 2012. North county unfortunately saw an 8% decrease since sales rates in 2012. This decrease was offset by an exceptionally good year in the multifamily market, and modest gains in the other markets. where 2012 and 2013 sales were identical at 246 units transacted in all property types. The dollar volume transacted of residential sales was up the most in southern Berkshire, with an 11% gain. The median rose a slight 1% overall.
- Multifamily highlights: Inventory is up 5% countywide, and multifamily sales up 8%, thanks to strong sales in Northern Berkshire. The dollar volume transacted increased 39% and the median sales price of multifamily listings in the MLS increased from $85,000 to $118,500 a 39% increase.
- Land highlights: Inventory is down 4% and land sales up a whopping 66%. This reflects an increase of sales from 54 to 90 during the year, and a sales volume rising from 6.7 million in 2012 to over 13 million in 2013. South county sales jumped from 23 to 50 and central Berkshire jumped from 18 sales to 22. This trend is a nice reprieve after a long decrease in land transactions.
- Condo highlights: Inventory is up 2%, condo sales are up 32% and the dollars sold up 57%, rising from $19.2 million to over $30 million. The median condo sales price also rose, from $178,000 to $224,000, primarily due to increases in central Berkshire. Southern Berkshire saw a retraction of median condo prices, down to $197,500 from the median in 2012 of $231,950.