June Market Watch Report

As we begin July, we were anxious to look back at the June sales data to gauge market trends.  As you know, the market has been incredibly busy after the quarantine requirements began lifting.  The June2020_Residential_Market_Update (PDF) has both a comparison of June 2020 compared to 2019, and a year-to-date comparison for perspective during these unusual times.

Without a doubt we are lacking in residential inventory countywide, down almost 42% from the same time last year. Pending sales are through the roof, going into July with an increase of almost 53% in the number of pending sales reported and the pending dollar volume up 120%.  The number of residential sales in June is almost the same as June of 2019, without such market pressures.  It should be noted that the dollar volume is steadily increasing due to the market pressure from a lack of inventory of homes for sale.  Year-to-date we are up overall 3% in closed residential sale volume but still lagging 5% in the number of sales. To assist you in further understanding the intricacies of your market, we have created not only the monthly Berkshire County comparison, but have created three regional updates as well as a special condo edition.