The number of new listings put on the market in January fell from previous years, and the active inventory count of residential homes for sale is 57% lower than in January of 2020. We are currently reporting an increase in the number of pending listings at the close of January, up 6.7%. The dollar volume of sales under contract in January is noticeably higher, jumping from $24 million to $47 million. Overall, there are 167 residential homes currently under contract, an increase of 31.5% from last year. Closed sales so far this year were up 8% with 108 homes sold in the first month and valued at over $40 million dollars. The dollar volume of sold transactions has increased 12%, up from $36 million in January of 2020. Understandably median sales prices continue to climb, now reporting a countrywide average of $267, 950, up from $238,000 last year. Here is the full PDF report for Residential Sales January 2021 in Berkshire County.
In northern Berkshire, there continues to be a severe inventory shortage of residential homes available for sale. Pending sales going into February are the same as last year, with unmet demand due to lack of inventory. The pending sales dollar volume has continued to increase, up 64% over the same time last year with almost $10 million under agreement compared to $6 million under agreement last year. Closed sales volume continued to rise by 53% to $6.8 million up from $4.5 million. The median sales price has tracked higher as well, jumping 28% from $162,250 to $207,450 this year. PDF Report North Berkshire Residential Sales January 2021
Central Berkshire residential inventory is the lowest in the County with less than one month of homes available for sale. A balanced market is approximately 7 months of inventory to satisfy buyer demand. Going into February, there is a 30% increase in the current number of homes under contract, with 71 sales pending at the end of January 2021, compared to 55 during the same month last year. Closed sales in the central region is up 27% over the previous January, with 57 sales this month compared to 45 last year. This sales pace also reflects a 54% increase in the total dollar volume of closed sales, now topping $15.8 million, up from $10 million last January. The median sale price continues to rise up from $222,000 to $228,000. PDF Report Central Berkshire Residential Sales January 2021
The inventory of residential homes for sale in southern Berkshire is at historically low levels. There is 1.9 months of inventory available in January 2021 compared to over 9 months of inventory last year. Pending sales continue to surge in the southern region, up 63% in January with 62 residential homes currently under contract compared to 38 last year. The jump in the dollar volume of these pending sales is also significant, now tracking at over $54 million dollars compared to $16.6 million last year. Sales in January have slowed due to unmet buyer demand. Median sale price also fell slightly, to $432,675. PDF Report South Berkshire Residential Sales January 2021
Condo sales are tracking the same market dynamics as residential homes are, with a lack of inventory an increase in sales and an increase in those condos under agreement at the end of January. Closed sales were up 57% over last year and the median sales price continues to climb at 216 thousand $500 in January. Full Condo Report January 2021