First quarter real estate sales in 2022 slowed over the sales pace in 2021, but only slightly. The central region of the county is the only area that has consistent growth in all property types over the previous year’s first quarter sales pace. The lack of inventory continues to hinder sales, and we anticipate that rising interest rates will have a future effect as well. That said, there have been no reports that buyer demand is slowing. Overall residential sales slowed by 2% comparing the 1st quarter this year to last year – with a 5% decrease in both north and south county and an increase of 2% in central county. While condominium sales rose 19% this quarter over the first quarter of 2021, land sales slowed by 25%. Land transactions in the south and north part of the county fell dramatically, yet the central land market remained stable. Sales of multifamily properties fell in north and south county but continued a strong upward trajectory over the last several years in the central market. The total number of all real estate transactions sold during the 1st quarter of 2021 topped 459 while this year fell to 443 sales. in the first quarter, the Berkshire real estate market transacted over $158 million dollars in sales, up from $155 last year at the same time. Click here for the full 12 page PDF report to print or share!
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