The Voice for Real Estate: Home Prices Peak

Nationwide, existing-home sales in June are on pace to hit 5.5 million by the end of 2015 and the national median price reached its highest level ever, surpassing the previous peak in 2006. That’s the top story in NAR’s news video, The Voice for Real Estate, for the week of July 27.  [click to play the video] The Berkshire Market Watch report will be released on Monday, August 3rd, but preliminary figures show that locally, January-June residential sales were higher this year compared to last up 4% to 480 transactions YTD. Although the number of sales was higher, the residential dollar volume transacted was down from $133.3 million to $123.8 million this year so far.  The north and central residential market was stronger than 2014, but south county continued to lag over last year’s sales rates and numbers.

In Berkshire County, Condo sales were robust this year, with double digit gains over last year. Over $10 million in closings has been transacted in condo sales alone this year so far, up 18% from last year.  The multifamily market did slow but land was up.  Here are the basic figures broken down by region and property type for January-June sales of this year, compared to the same time last year.

Residential
Number Sold Sold Volume Median Sale Price
Region 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif
Central 207 233 12 41,620,500 41,620,811 0 162,500 153,000 -6
North 79 88 11 14,306,274 15,949,799 11 132,000 135,000 2
South 174 159 -8 77,439,250 66,243,719 -14 282,500 314,500 11
Residential Totals: 460 480 4 133,366,024 123,814,329 -7 183,250 178,000 -2
MultiFamily
Number Sold Sold Volume Median Sale Price
Region 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif
Central 22 25 13 2,636,000 3,137,200 19 116,750 126,000 7
North 27 18 -33 3,106,850 1,732,900 -44 100,000 90,000 -11
South 4 5 25 652,500 1,195,000 83 176,250 250,000 41
MultiFamily Totals: 53 48 -9 6,395,350 6,065,100 -5 113,000 112,500 0
Lots/Land
Number Sold Sold Volume Median Sale Price
Region 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif
Central 10 13 30 854,500 913,000 6 42,000 50,000 19
North 8 13 62 414,900 778,400 87 20,000 67,500 237
South 28 17 -39 2,405,400 2,662,575 10 66,250 77,500 16
Lots/Land Totals: 46 43 -6 3,674,800 4,353,975 18 42,000 67,500 60
Condominium
Number Sold Sold Volume Median Sale Price
Region 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif
Central 12 19 58 2,785,100 3,604,400 29 209,450 165,000 -26
North 2 5 150 414,000 1,041,400 151 207,000 155,000 -33
South 19 21 10 5,444,200 5,626,650 3 230,000 170,000 -35
Condominium Totals: 33 45 36 8,643,300 10,272,450 18 223,900 165,900 -25
All
Number Sold Sold Volume Median Sale Price
Region 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif 1/14-6/14 1/15-6/15 % dif
Grand 592 616 4 152,079,474 144,505,854 -5 165,000 163,650 -1
Totals