As we look at the September MarketWatch report for Berkshire County Massachusetts, closed sale volume year-to-date is up by 7.8% totaling over $380.5 million dollars. This is a jump of 31.5% in the dollar volume of closed sales compared to the same period in 2019. September sales were robust, up double digits countywide, with $79 million dollars transacted for 178 closed single family homes. The pending sales count in September rose significantly over last year with 389 homes currently under contract. Year to date sales rose a total of 8% with 1094 home sales valued at $380.5 million dollars.
Residential single-family homes available for sale continue to fall, with only 460 homes on the market countywide; a decrease of almost 50% compared to September of 2019, when there were 884 homes on the market. This reflects 2.1 months of inventory countywide. Anything under seven months of inventory is considered a sellers’ market, with the understanding that property condition, pricing and location all are factors in individual results. Full September Report (PDF) with town summaries and monthly tracking compared to last year.
Inventory by Region:
Both the northern and central residential markets have seen a falling inventory rate that has put significant pressure on buyers in those markets. Both are reporting only 1.6 months of inventory, which is significantly lower than last year – which was also historically low. South County reports show 2.6 months of inventory, down from 9.1 months in 2019. This is a significant shift in the southern Berkshire market, which is rarely under 10 months.
Northern Berkshire sales continued at a snappy pace with 28 sales in September and a year to date total of 235 residential single-family homes trans acted which represents a 16% increase over last year. The dollar volume of transactions in the northern Berkshire market has continued to rise as well, with over $55million dollars in transactions year-to-date up from $43 million dollars in transactions last year. Median sale prices continue to rise, now recorded at $209,500 which is a 6% increase from the same time last year. Full North County Report
In the central Berkshire region, sales have slowed compared to last year, with only 67 residential homes sold in September, down compared to 88 last year. Despite falling sales, median sales prices continue to drive upward at $243,500. There is a great deal of demand without the availability of homes to sell and this is causing a significant pressure on the market. It is encouraging to note that pending sales are up almost 45% compared to last year, with 171 central Berkshire homes currently under contract. Full Central County Report
South County sales continued to rocket ahead of rates last year with 91 sales in September and a total of 442 home sales in the first nine months of the year. This is a jump of 41% up from 314 home sales during the same time in 2019. The dollar volume of sales also continues to rise, with $218 million dollars transacted in 2020 year to date, up from $134 million dollars in 2019. Southern Berkshire was the only region that saw a slight shift downward of median sales prices by -1% , currently running at $445,000 on average. Year-to-date, median prices have risen by almost 15%. Full South County Report
Full September Report (PDF) with town summaries and monthly tracking compared to last year.
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